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9/01/22
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PMB, in partnership with Montgomery Street Partners, is developing a new 365k sf life sciences project in Boulder County, CO named Coal Creek Innovation Park. Located in Downtown Superior, the innovation park will be the first built purposefully to accommodate life sciences research and development in Boulder County, an area with historically low vacancy and high demand for lab space.
Initial plans call for three office/lab buildings ranging in size from 85k sf to 150k sf and a fourth building with ground-floor retail, amenities and structured parking. The buildings will have 16-ft floor-to-floor heights and flexible infrastructure to accommodate office, lab and R&D uses. Shared lab services will be available to all tenants, including RODI water, dedicated laboratory water, compressed air, glass wash, and a lab waste system.
Coal Creek Innovation Park is purposefully designed with extremely specific and technical needs in mind—from 100% outdoor air return in the lab areas to generator back-up and expanded electrical load capacity. The project will also have a gym with showers, bike rooms, shared conference facilities, and views overlooking the new Creek View Park and the Flatirons beyond.
CBRE’s Nelson Udstuen and Erik Abrahamson are leading leasing efforts.
Coal Creek Innovation Park will build on a wave of development occurring in Downtown Superior, located along the US-36 corridor between Denver and Boulder. The Superior Medical Center and Sport Stable are blocks away, and a slew of residential and mixed-use projects are under construction and scheduled to be completed in 2023.
The project will tap into life sciences talent from across the region. The development is 10 minutes from Boulder and 25 minutes from Denver. Earlier this year, CBRE conducted an analysis of the top U.S. markets for life sciences talent. The Denver/Boulder region was named the 11th best market overall with the number of life sciences researchers increasing 20% from 2015 to 2020. The region led the rankings in one specific metric: Denver/Boulder is home to the greatest absolute number of bioengineers and biomedical engineers in the country. Similarly, Boulder has ranked No. 1 on Bloomberg’s Brain Concentration Index since the index launched in 2016.
Vacancy among Boulder life sciences properties stood at just 0.3% at the end of the second quarter, according to CBRE research. On the demand side, the market has maintained over 1 msf of active life sciences tenant requirements for nearly two years.
The Town of Superior’s Board of Trustees approved the Final Development Plan for Coal Creek Innovation Park this month. Ground could break as early as the second quarter of 2023. The first buildings will be completed in 2024.
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