|
ETKIN JOHNSON GROUP BEGINS CONSTRUCTION ON
74-ACRE
MIXED-USE BROOMFIELD BUSINESS CENTER DEVELOPMENT
The Retreat At The Flatirons luxury apartments will provide
best in class
design, finishes and lifestyle amenities.
Denver, CO, October 30, 2012 – Etkin Johnson Group announced today the official launch of
construction of Broomfield Business Center, located off Via Varra and the Northwest Parkway in
Broomfield, CO. The initial components of the 74-acre mixed-use development include construction
of the 374-unit Retreat At The Flatirons luxury apartment community and the 4-acre Del Corso Park,
which will be developed by Etkin Johnson Group and dedicated to the City of Broomfield. The first
phase, which will total approximately $80 million, will also see construction of the infrastructure for
the remaining 51 acres.
The balance of Broomfield Business Center will take shape with a wide array of restaurants, banks,
retail, single and multi-story office/flex, structured and surface parking and a hotel. When complete,
the walkable community will total more than 1.5 million square feet.
Bank of America Merrill Lynch provided the construction financing totaling approximately $53 million
for the first phase of Broomfield Business Center, including the multi-family component and the master
development infrastructure. “Bank of America Merrill Lynch is pleased to once again work with
Etkin Johnson Group, a recognized leader in high-quality development in the Front Range,” said
Patrick Barnes, Senior Vice President, Commercial Real Estate Market Executive – Mountain West
States. “Broomfield Business Center is a great example of the type of development we are committed
to as a leader in commercial real estate lending,” commented Chad Neubecker, Senior Vice
President, Commercial Real Estate at Bank of America.
Barnes and Neubecker worked closely to close the complex transaction in August 2012 with
Aaron Johnson, Vice President Investments at Etkin Johnson Group.
Initial occupancy for the Retreat At The Flatirons apartments is slated for July 2013. Residents will
have 17 floor plans to choose from ranging in size from 703 square feet up to 2,023 square feet.
Monthly lease rates for the one, two, and three-bedroom apartment homes are estimated to range
from $1,000 to $2,235 monthly. The apartments at the Retreat will boast an unparalleled level of
upscale finishes including nine-foot ceilings, full-size washer and dryer in each residence, stainless
steel appliances, granite countertops in kitchens and baths, high-end plumbing fixtures, private
patio or balcony with incredible views and available fireplace and garden tub in select plans.
Other conveniences include walk-in closets, pre-wiring for intrusion alarms and telecommunications,
individual heating, air conditioning and hot water. Garages are offered with several options
including attached with direct access to residences as well as detached in standard and oversized
configurations.
The Retreat At The Flatirons will offer one of the largest, most sophisticated sets of lifestyle enhancing
amenities in the market. The welcoming Craftsman style of the apartments reference both traditional
and contemporary architectural elements that will be carried through to The Club At The Retreat.
Indoor and outdoor features will create a true resort-like atmosphere centered around health, fitness,
relaxation, socializing and entertainment. Additionally, residents will have access to an adjacent
4-acre city park, which is being developed and donated to the City of Broomfield. Planned indoor
amenities include a state-of-the-art fitness center, saunas, yoga center, Internet café, billiard’s room,
business center and an expansive entertainment lounge. Slated outdoor amenities will include a
shallow courtyard pool with lounge chairs, two-lane, 25-meter lap pool, outdoor kitchen, picnic arbor
and grilling station, fire pit, bike repair shop and dog wash facility.
“We are very excited to see Broomfield Business Center taking shape in this outstanding location.
The accessibility and views are amazing. The site infrastructure and residential component will set
the spark for the 50 acres that will remain available for future development. Ultimately, Broomfield
Business Center will result in a new pedestrian-friendly neighborhood with a vibrant mix of
residential, retail, restaurant, banking, hotel, entertainment and office uses along with inviting public
spaces including a city park and access to the adjacent trail system,” said Bruce Etkin, Chairman of
Etkin Johnson Group.
Other team members collaborating on the Retreat At The Flatirons include Lauren Brockman, Principal
of the Denver office of Allied Realty, who is providing comprehensive development consulting
services. He has sponsored the acquisition and development of approximately 9,500 multi-family
units. Orion Real Estate Services, a subsidiary of Allied Realty, has a growing portfolio of more
than 28,000 apartment homes under management throughout the nation and will provide property
management and leasing services upon completion.
Etkin Johnson Group is a Denver-based development, investment, ownership and management
company with a portfolio of more than 6 million square feet of office, retail, hotel and industrial
holdings nationwide valued in excess of $500 million. For more information visit etkinjohnson.com.
Print PDF Press Release
# # #
Ryan Good To Lead Etkin Johnson's Leasing/Sales Team...
 Denver, CO, April 5, 2012 – DENVER, CO, APRIL 5, 2012… David Johnson, President of Etkin Johnson Group, announced today that Ryan Good has been named Vice President of Leasing/Sales. Good will head the company’s marketing efforts for its 7.5 million square foot commercial real estate portfolio. Etkin Johnson has also acquired significant land holdings in Denver’s Northwest Corridor, which are being offered for sale or build-to-suit facilities.
Good previously served as a Vice President at the Denver office of CBRE. While there, he participated in over 360 transactions totaling 6.7 million square feet and nearly $233 million in consideration.
In 2010 and 2011, Good was named a Denver Business Journal Heavy Hitter finalist. He was also named a finalist for the NAIOP Broker of the Year award in 2011.
Good graduated with a Bachelors of Science in Public Finance from Indiana University, where he minored in entrepreneurship and small business management.
Good is the Chair of the Associate Board for the Food Bank of the Rockies and a mentor for Big Brothers Big Sisters.
Etkin 'Johnson Group Singnificantly Expands Its Development
Footprint At Colorado Technology Center
DENVER, COLORADO February 13, 2012 – Etkin Johnson Group announced today that it acquired several undeveloped parcels totaling approximately 48.85 acres at Colorado Technology Center (CTC) in Louisville, Colorado. Several of the parcels are located on Taylor Avenue, one on CTC Boulevard, and one on S. Arthur Avenue. CTC is home to several leading manufacturing and high-tech companies as well as green buildings that are energy efficient and environmentally friendly. The technology park is situated in Central Boulder County, directly off the Northwest Parkway at the 104th Street exit or via US-36 at the 96th Street interchange. Close proximity to Boulder (6 minutes) and Denver (15 minutes) position these development sites among the most sought-after locations in the Northwest Corridor, as there are very few available parcels that are cost effective, flexible, and ready to build.
The acquisition price was not disclosed. The addition of these parcels greatly increases Etkin Johnson Group‘s land holdings and the opportunities it has to offer at CTC. “This purchase represents a major acquisition of undeveloped land in this prime area,” said Aaron D. Johnson, Director of Acquisitions and Finance at Etkin Johnson Group. “Furthermore, adding this land dramatically increases our portfolio of premier Front Range properties, allowing us to offer even more choices to our brokers and our clients.”All twelve parcels are being offered for sale or build-to-suit.
This acquisition closely follows Etkin Johnson Group’s recent purchase of the 1812 Boxelder Street building on November 21, 2011. Boulder Wind Company has leased the entire Boxelder building and joins the powerful tenant roster at CTC, which includes: Fresca Foods, Pearl Izumi, KIOSK, Zeon Corporation, and Intertek.
Etkin Johnson Group owns and manages nearly 5 million square feet of commercial properties within the Denver Metro Market with approximately 1.5 million square feet of office / flex asset types along the Denver-Boulder Corridor with a growing presence of over 650,000 square feet and 48.85 undeveloped acres at CTC.
Etkin Johnson Group Announces Acquisition In Louisville, CO
DENVER, COLORADO December 6, 2011 –Etkin Johnson Group announced today that it acquired the 1812 Boxelder Street property in Louisville, Colorado on November 21, 2011. The building is a 34,329 square foot industrial/flex/office facility located in the Colorado Technology Center, within Denver’s northwest submarket. The Colorado Technology Center, also known as Colorado Tech Center or CTC, is the home of several leading manufacturing and high tech companies. The technology park is situated in Central Boulder County, directly off the Northwest Parkway at the 104th Street exit or via US-36 at the 96th Street interchange. Close proximity to Boulder (6 minutes) and Denver(15 minutes) positions the 1812 Boxelder asset among most sought-after locations in the Front Range.
The acquisition price was $1,850,000 or $53.89/SF. At closing, the property was 100% available for lease. The property was purchased from Dion Brothers Mercantile as part ofa short sale with Zions Bank and SBA. Dion Brothers Mercantile originally purchased the building in 2008 for $2,600,000 and added $600,000 of improvements to the facility to support its heavy industrial machine shop operation. The O’Connor Group constructedthe building in 1995. The asset is characterized by quality design and construction. Key features include high bay, 25’ clear ceilings (minimum), high power, one dock-high door and two grade level doors to accommodate a “drive-through” traffic flow. Approximately 15% of the space is finished as offices, which are built-out on two floors. Etkin Johnson Group plans to invest more than $250,000 in additional improvements to enhance the building’s curb appeal and efficiency. Etkin Johnson Group has already received strong interest from a variety of potential tenants who are considering leasing the entire building. Paige Coker Heiman, President and Managing Broker at Acquire representedthe seller on the transaction.
The 1812 Boxelder acquisition closely follows Etkin Johnson Group’s recent purchaseof Highland Tech Center in Denver’s southeast suburban submarket located at
8925 - 8985 E. Nichols Avenue in Centennial. Three office/industrial buildings total 61,089 square feet in a well-landscaped campus style setting with excellent visibility on Yosemite Street and E. Nichols Avenue. MSI Tec, Inc., a premier automation distributor, leased16,689 square feet of space during the due diligence process.
“Both 1812 Boxelder and Highland Tech Center were strategic plays to purchase distressed assets that will immediately benefit from our team’s superior value-add skills”, said Aaron D. Johnson, Etkin Johnson’s Director of Acquisitions and Finance. “We seek assets that are either undervalued or demonstrate strong potential for value creation. As a growth and income investor, this strategy has consistently generated an IRR for Etkin Johnson Group and it’s stakeholders which has averaged nearly 20% over the course of two decades.”
Etkin Johnson Group owns and manages nearly 5 million square feet of commercial properties within the Denver Metro Market with approximately 1.5 million square feet of office/flex asset types along the Denver-Boulder Corridor and nearly 650,000 square feet in the Colorado Technology Center. For additional information visit etkinjohnson.com.
Etkin Johnson Group Joins With Forest City To Build
Enterprise Park At Stapleton
New Development Will Include 441,000 Square Feet Of
Office And Industrial Space In Denver
Development by Etkin Johnson Group
Setting The Pace Along The Northwest Corridor
Denver (March 10, 2008) – The Etkin Johnson Group and Forest City Development have announced the start of construction of three new office and industrial buildings, comprising 441,000 square feet of space, at the Stapleton redevelopment (site of Denver’s former Stapleton International Airport). The project, named Enterprise Park at Stapleton, is being listed by Jim Bolt of CB Richard Ellis and Tim D’Angelo of TD Industrial Properties.
“Stapleton Enterprise Park is located in one of the most successful and talked about airport redevelopment sites in the nation, and will provide industrial-office users with tremendous access to important transportation sites and corridors in Denver including Interstate 70, Interstate 25 and Denver International Airport,” said David Johnson of The Etkin Johnson Group. “It will meet the city’s growing demand for Class A warehouse/distribution and industrial flex space, while also providing businesses with a highly desirable office address amidst the office, retail and restaurant development that is already well underway by Forest City.”
The development will consist of three buildings. The first will total 153,000 square feet of space, with 30 foot clear height ceilings. The other two buildings offer high parking ratios and 24 foot clear height ceilings, in either a 139,695 square foot building, or a 148,902 square foot building. All three buildings will feature 10 foot high glass windows, ideal for the office, showroom and research and assembly areas that will comprise at least 25 percent of the space. The buildings will also provide a front park-rear load configuration, allowing for customers and employees to park and enter in the front of the building and truck traffic access in the rear of the building. Energy efficient, green building design will be incorporated throughout.
The Etkin Johnson Group is a Denver-based full service commercial real estate organization that develops, acquires and operates a diverse range of high-quality, income producing real estate including office, industrial, retail and hotel properties. The company has operated in Denver since 1981 and currently holds ownership of more than five million square feet of commercial properties in the Denver metropolitan area.
Etkin Johnson Group Acquires 91,570 SQ. ft.
Office/Flex Building At Colorado Technology Center
In Louisville, Colorado
Development by Etkin Johnson Group
Setting The Pace Along The Northwest Corridor
Denver (January 7, 2008) – Etkin Johnson Group announced the company has expanded its holdings in Denver’s highly desirable Northwest Corridor with the acquisition of a first-class office/flex building located at 1886 Prairie Way in Louisville.
The 91,570 sq. ft. facility will continue to house the Nautilus Health and Fitness Group on a leaseback arrangement until June 2008. Etkin Johnson Group has a significant presence in CTC where the company is also marketing space in five additional buildings which have been recently completed or under construction. The majority of space in these energy efficient, “green” buildings was pre-leased with a limited number of availabilities currently ranging from 26,728 sq. ft. up to 66,776 sq. ft.
Ryan Good, Vice President Leasing/Sales, indicated that the newly acquired building at
1886 Prairie Way “is drawing attention from a number of high quality companies and their brokers now that we have announced its availability this spring.” The striking exterior design with its curved glass entry facade continues into the two story lobby and mezzanine area.
The building’s flexible, open landscape floor plan can efficiently accommodate a wide spectrum of operations. 1886 Prairie Way offers 23,880 sq. ft. of finished office space, 27’ 4” clear ceiling height, six dock high doors and one drive-in shipping door, and 200 Amps of power.
The building is fully air conditioned, sprinklered throughout and offers sign rights on the building and entry monument. The building is locally owned and professionally managed by the Etkin Johnson Group. For availability, contact Barbara Myers directly at 303-223-0496 or at bmyers@etkinjohnson.com.
Church Ranch Office Center IV Goes From
15 Percent To 91 Percent Leased In ‘04
Development by Etkin Johnson Group
Setting The Pace Along The Northwest Corridor
Denver (December 2004) – 2004 was a dramatic year for Church Ranch Office Center IV as it opened the year 85 percent vacant, but gradually filled its space and today is 91 percent leased. The entire Church Ranch Office Center, located on Church Ranch Blvd. midway between Denver and Boulder on Interstate 36, has been setting a strong pace along the northwest corridor with numerous lease signings, company openings and building sales.
“Church Ranch is somewhat of a microcosm of the metro area’s northwest corridor,” said Bruce Etkin of The Etkin Johnson Group, the owners and developers of Church Ranch. “We struggled during the downturn, but were always able to hold our own, and during the past 12 months there’s been a tremendous amount of activity at Church Ranch. It’s hard to predict what this means for the entire corridor, but it has to be considered a positive sign. Our central location between Denver and Boulder gives us an edge on other developments, but the momentum is strong and could continue up and down the corridor from Church Ranch.”
"Church Ranch Office Center exemplifies how Westminster and our business
community work together,” said Susan Grafton, economic development manager at the City of Westminster. “The combination of having existing space, along a
major corridor, with access to a well-educated workforce, higher education,
and transportation, made Church Ranch Corporate Center the ideal location
for businesses like Roving Planet, Lafarge North America and Computer
Research Inc."
Some of the deals completed in 2004 at Church Ranch include:
- Lease signings totaling 111,000 square feet.
- Building sale to FirsTier Bank.
- An 82 percent average occupancy rate at the Marriott’s Springhill Suites.
- The opening of a Target Super Store at the Walnut Creek Shopping Center.
“There are those in the industry who felt Church Ranch would be on the tail end of the leasing resurgence along the northwest corridor, but in many respects we’re leading the pack,” said Etkin. “Our leasing package, combined with the office center’s central location between Denver and Boulder, easy access to I-36, numerous amenities, proximity to hotels, covered parking, a Park ‘n’ Ride and additional commercial space is putting Church Ranch at the forefront of the market.”
The Etkin Johnson Group has operated in Denver since 1981 and currently holds ownership of more than 5 million square feet of commercial properties in the Denver metropolitan area. The company also currently has 10 hotels in its portfolio.
Two New Leases Fill 70,000 Square Feet At Church Ranch
Development By Etkin Johnson Group
Setting The Pace Along The Northwest Corridor
Denver (June 2004) – The Etkin Johnson Group is pleased to announce two new lease signings at the company’s Church Ranch Office Center. Scottrade, Inc. has taken 29,961 square feet of space at 10170 Church Ranch Way and LaFarge North America, Inc. has taken 42,887 square feet of space, also at 10170 Church Ranch Way. With the recent lease signings, the buildings at Church Ranch Office Center are 80 percent leased.
“There are those in the industry who felt Church Ranch would be on the tail end of the leasing resurgence along the Northwest Corridor, but in many respects, we’re leading the pack,” said David Johnson. “Our leasing package, combined with the office center’s central location between Denver and Boulder, easy access to I-36, numerous amenities, proximity to hotels, covered parking, a Park ‘n’ Ride and additional commercial space is putting Church Ranch at the forefront of the market.”
The recent signings contribute to positive absorption for the Northwest Corridor, but not for the Denver metro area (Scottrade moved from downtown Denver and LaFarge moved from unincorporated Adams County). Etkin Johnson attributes this to the fact that many companies have come to prefer a midway location between Denver and Boulder, as well as the ability to lease preferred space at business parks such as Church Ranch.
The Etkin Johnson Group has maintained its commitment to Church Ranch. Early last year, the company opened its fourth building at the development, Church Ranch Office Center IV. In return, the development has seen steady activity, including lease signings by Lockheed Martin, Time Warner, Roving Planet and Scottrade.
The Etkin Johnson Group has operated in Denver since 1981 and currently holds ownership of more than 5 million square feet of commercial properties in the Denver metropolitan area. The company also currently has 10 hotels in its portfolio.
The Etkin Johnson Group Continues To
Make Shrewd Moves In Down Market
Local Real Estate Company Purchases 32.2 Acres At
Half Of Original Purchase Price
Denver (December 2003) – The Etkin Johnson Group (Etkin Johnson) continues to prove its ability to perform and make solid investment moves, even in soft market conditions, with the recent announcement that the company has purchased 32.2 acres of land at the Westmoor Technology Park. Etkin Johnson’s purchase price was equivalent to $1.78 per square foot, less than half of the $5 - $6 per square foot asking price when the park was being developed in 1998.
“We pride ourselves on identifying solid opportunities regardless of market conditions, and acting on our instincts,” said Bruce Etkin. “Whether it’s a turnaround project, a new development or something entirely different, we try to hit the real estate trends as we see them and strengthen our position in the market.”
The Westmoor Technology Park is located at 108th and Simms in Westminster. The land was sold by MetLife. Jim Bolt of CB Commercial handled the transaction.
Etkin Johnson has development plans in the works for the three parcels of land and will announce those plans at a future date.
The company has established itself as one of the more successful real estate firms in terms of reacting to the market downturn. Among other recent successes, Etkin Johnson has:
- Leased 120,000 square feet of space to Sports Authority as their corporate headquarters at 1050 and 1090 W. Hampden in Englewood.
- Recently leased more than 392,000 square feet of space.
- Maintains a strong presence with more than 5 million square feet of property, plus 10 Marriott brand hotels.
- Achieving annual growth of up to $50 million in diversified development and acquisition activities.
The Etkin Johnson Group has operated in Denver since 1981 and currently holds ownership of more than 5 million square feet of commercial properties in the Denver metropolitan area. The company also currently has 10 hotels in its portfolio.
The Etkin Johnson Group Grinds It Out
With Commercial Real Estate Languishing,
Veteran Firm Continues To Perform
Denver (September, 2003) – Several new leases by The Etkin Johnson Group (Etkin Johnson) are representative of the veteran firm's ability to continue to meet goals even during a sluggish economy. With more than 5 million square feet of property in its portfolio in the Denver Metro area, Etkin Johnson has not only maintained a strong presence in the local market, but has further strengthened its position by leasing more than 266,000 square feet of space this year.
Among the more prominent leases was the recent 118,000 square foot lease to The Sports Authority (formerly known as Gart Sports Company) in the Englewood Business Center (bringing the total amount of space The Sports Authority has at the Center to 210,000 square feet). That lease alone has established a world headquarters at one of Etkin Johnson's prime properties and has created the possibility for new jobs in the Denver-Metro market.
The most recent leases by Etkin Johnson include:
- A 118,000 square foot lease to The Sports Authority at 1090 W. Hampden in Englewood, located at the Englewood Business Center (as mentioned above).
- A 64,532 square foot lease to King Soopers at the Market at Southpark, located at Broadway and Mineral.
- A 40,000 square foot lease to Dharmacon, at Lafayette Corporate Campus.
- A 26,000 square foot lease to Spyder Active Sports, a ski apparel company, leased the entire building at 4725 Walnut Street in Boulder.
Leasing activity at Church Ranch has also necessitated the opening of the four-story building at the mixed-use development.
"We attribute our continued success to our financial strength and ability to work out very competitive deals for tenants," said David Johnson of Etkin Johnson. "There's no question companies are hurting and property owners are hurting, and while we feel fortunate, we also believe our veteran team of brokers, combined with well-maintained properties in great locations, works well with our ability to be flexible on deals. I don't know if our formula will work for everyone, but it certainly continues to work for us."
The Etkin Johnson Group has operated in Denver since 1981 and currently holds ownership of more than 5 million square feet of commercial properties in the Denver metropolitan area. The company also currently has 10 hotels in its portfolio.
|
|
|
