Carey Technology, Opus Northwest Partner for $50-Mil Office Campus

BROOMFIELD, CO-A NY-based real estate investment firm is pumping $50 million into a 23-acre office campus at US 36 in this bedroom community of Denver.

Carey Technology Properties, located in Manhattan, is co-developing the site with Opus Northwest. The campus will be located on the site of the former Lange ski booth factory, which will be razed to make way for a new five-building complex, FlatIrons Gateway. The project is east of the Interlocken Business Park, home to large office campuses owned by Level 3 Communications and Sun Microsystems Inc.

The new complex’s lease rates will range from $17.50 per sf to $19 per sf. The first phase will be completed by December 2001. Office vacancy along that US 36 is virtually nonexistent, with only a 0.7% vacancy rate.

“Basically, everything being built is immediately being leased,” says Tom Lee, a broker with the Denver-based Frederick Ross Co.