St. John Properties Acquires 81 Acres for Mixed-Use Business Park
The company plans to invest $95 million in the Broomfield, CO project, which will comprise office space, flex/R&D space and retail space.
BROOMFIELD, CO – Baltimore-based, St. John Properties Inc. has acquired 81 acres of land in Broomfield, CO, with plans to develop a 600,000-square-foot, mixed-use business park. The company acquired the land from Brocade Communications Systems LLC.
The full-service commercial real estate development and investment company plans to invest $95 million in the project.
The mixed-use business community, designated Simms Technology Park, will consist of five single-story office buildings comprising 150,000 square feet of space, two multi-story, class A office buildings comprising 200,000 square feet of space, six flex/R&D buildings comprising 220,000 square feet of space, an 8,000-square-foot retail building and four available pad sites suitable for retail.
The buildings, located at the intersection of N. Simms St. and W. 112th Ave., situated 20 miles Northwest of the Denver metropolitan area, will be designed for LEED Certification by the US Green Building Council.
Construction on phase one of Simms Technology Park is slated to begin in early 2021. St. John Properties will break ground on the single-story office and flex/R&D buildings first, with expected delivery of the first product in late 2021, before proceeding to subsequent phases.
With the project, the company aims to capitalize on Broomfield County’s rapidly growing population.
“This strategically-positioned site provides the opportunity to execute our long-term development strategy in a section of Colorado that contains every essential metric for sustained growth and economic vitality,” states Brandon Jenkins, St. John Properties’ regional partner for Colorado. “The philosophy of St. John Properties is to remain ahead of the development curve and speculatively build commercial real estate product that anticipates the future needs of our clients. We were attracted to the site’s proximity to the existing business communities of Interlocken and Westmoor Technology Park as well as easy access to Boulder and Denver markets along the US – 36 Northwest “creative corridor” of the Denver metropolitan area. Our research shows the continuing trend among users of commercial office space in all product categories to migrate to Denver’s northwest suburbs for expansion and relocation.”
St. John Properties has developed and currently owns more than one million square feet of space in Colorado, including the 14-building, 600,000-square-foot, Corporate Center in Golden, CO; the 145,000-square-foot, Sixth Ave. Place in Golden, CO; and the more than 200,000-square-foot, Walnut Creek Business Park in Westminster, CO.
