Koelbel & Co. Breaks Ground at Centennial Valley Business Park
Denver, CO – Denver-based Koelbel and Company has broken ground on a two-story, class A office project at 168 Centennial Parkway in Louisville, Colorado. The 57,700-sq.-ft. speculative building is expected to deliver in Q2 2017.
168 Centennial Parkway will be located in Centennial Valley Business Park. The two-story, 57,700-sq.-ft. class A office project highly-amenitized location will put tenants within walking distance to the McCaslin Boulevard area, which features numerous dining and shopping options. Additionally, the property’s ideal Louisville location offers direct access to U.S. Highway 36 and as well as RTD-route access with Call-N-Ride service. The building is located just five Minutes from Boulder, 30 minutes from Denver and 40 minutes from DIA.
Founded in 1952, Koelbel and Company is the longest operating family-owned real estate development firm in the region. With a slate of developments stretching from Vail and Winter Park to Louisville and Boulder, as well as across the Denver metro, the company’s history and experience have it uniquely positioned to respond to the Colorado real estate market in an intuitive and thoughtful way.
“We think this is the perfect time to deliver a new, quality office building in Centennial Valley. The demand we are seeing from companies in the market looking for creative and unique office space, but who also want an economic advantage when compared to Boulder or the other limited options along the Highway 36 corridor, is at an all-time high,” said President and CEO Buz Koelbel. “Tenants in our building will be able to design and build out the kind of custom space that seems to be required to attract and retain skilled labor these days. Additionally, our proximity to a multitude of amenities and recreational options will further help create the environment today’s employees want.”
Erik Abrahamson and Frank Kelley with CBRE’s Denver office are marketing and leasing the property on behalf of Koelbel. The duo says they have seen significant user interest, particularly from companies in the tech and advanced business services industries.
“We’ve seen a major influx of companies expanding and moving into the Louisville area in recent quarters due to the availability of a highly educated, skilled workforce,” said CBRE’s Abrahamson. “Koelbel and Company is a savvy developer and recognizes the timing is right for a quality spec project in the area.”
Abrahamson also points out 168 Centennial Parkway offers users the opportunity to create a customized office space in a high-profile, class A property at a much more affordable lease rate when compared to similar properties in downtown Denver or Boulder.
“As more companies flock to Louisville, there will be even more demand for office spaces that appeal to the 21st century workforce,” said Abrahamson. “168 Centennial Parkway will allow tenants to create a custom workspace that will fit their specific needs and the needs of employees, and at a much more cost effective rate. In some cases, a company could be looking at a $10 per foot savings when compared to product that’s just a short drive away.”
Rendering courtesy of CBRE