Vitrian and Koelbel and Company are converting a vacant, former Lowes home improvement store in Louisville into a state-of-the-art, 134,393-square-foot biomanufacturing/advanced manufacturing building.
The project, known as Centennial Valley Innovation Center, is located at 1171 West Dillion Rd., a 15-minute drive from Boulder and 30 minutes outside of Denver. The venture will reposition the former home improvement store into a GMP/advanced manufacturing facility to cater to the Denver/Boulder life science and advanced manufacturing markets.
A fund managed by DRA Advisors LLC provided joint venture equity for the acquisition and conversion of the project. JLL Capital Markets represented the joint venture to raise equity for the project.
The project is located in the Centennial Valley Business Park, a highly-amenitized established life science and advanced manufacturing node, with many retail/restaurants accessible within walking distance. Upon completion of the conversion, 1171 W Dillon Rd will offer the closest dedicated biomanufacturing and advanced manufacturing capable space to Boulder, home to the University of Colorado’s main campus and the largest life science R&D hub in the Intermountain West. The project will be ready for interior buildout within six months.
Boulder County benefits from an existing manufacturing labor pool, providing access to skilled workers. The region is a top five market for research jobs, and the No. 1 market for chemical engineers, No. 4 market for biological scientists, and No. 6 market for biological technicians. Additionally, the proximity to a major research university and hospital system venture arm offers access to grant funding opportunities.
“Vitrian, Koelbel and DRA have deep roots in the Colorado marketplace and in the Centennial Valley in particular,” said Co-Founder of Vitrian Scott Nudelman. “As biomanufacturing and non-pharma advanced manufacturing expands beyond the coastal markets, Boulder County will continue to benefit. We look forward to collaborating with companies and stakeholders in the region, including the Colorado Bioscience Association and Institute, Front Range Community College and non-profit organizations focused on STEM workforce development.”
