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7/25/24
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ScanlanKemparBard acquired a two-building, 436.5k sf R&D/manufacturing property situated within Atlas Industrial Park in Broomfield, CO. The price was not immediately disclosed.
Strategically located in the heart of the Boulder–US Highway 36 corridor, the property is located at 2555 W. Midway Blvd. It consists of a multi-level, multi-building advanced manufacturing campus with excess land.
Operated for years as a round-the-clock pharmaceutical Good Manufacturing Practices (GMP) manufacturing facility, the pharmaceutical/industrial campus is situated on just over 20 acres. The main building, totaling 411k sf, primarily comprises office, manufacturing processing, packaging, laboratory and climate-controlled warehouse areas. The second floor includes general engineering and office areas, laboratory areas and an employee cafeteria that is accessed via a sky bridge over the roof of the building. The second 25.5k sf building comprises laboratory and office areas. Notably, the buildings collectively feature nearly 12,000 amps of power.
Rick Egitto, CCIM, with Avison Young, and Justin Rayburn with Fountainhead Commercial represented the seller, Mile High Labs. The all-cash buyer was self-represented. According to Egitto, the Denver industrial vacancy rate is temporarily hovering around 8% due to a significant amount of large bay warehouses recently having been delivered into the market
Dixon Hinderaker, Vice President of Acquisitions with ScanlanKemparBard said, “We found the location of the property along US Highway 36 very attractive. Located equidistant to Boulder and Denver, the property allows prospective tenants the ability to leverage a highly skilled labor pool. Furthermore, the property features specialized attributes of climate-controlled warehouses, significant power, clear heights up to 38 feet, and the ability to accommodate outside storage space for prospective tenants.”
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