St. John Properties Expands in Colorado with 81-Acre Mixed-Use Business Park
Located near N. Simms Street and W. 112th Avenue, Simms Technology Park will contain single-story office, multi-story office and flex/R&D space, in addition to retail amenities
DENVER, CO (July 20, 2020) – St. John Properties, Inc. has acquired 81 acres of land in Broomfield, Colorado with plans to develop Simms Technology Park, a mixed-use business community containing nearly 600,000 square feet of single-story, multi-story and flex/R&D space, in addition to complementary retail amenities and available pad sites. Headquartered in Baltimore, Maryland, the full-service commercial real estate development and investment company owns and has developed more than one million square feet of space in Colorado since 1987 and intends to invest $95 million in this project situated approximately 20 miles northwest of the Denver metropolitan area. Construction activities for phase one of Simms Technology Park are expected to commence in early 2021.
Purchased from Brocade Communications Systems, LLC, the business community located at the intersection of N. Simms Street and W. 112th Avenue in Broomfield County will be comprised of two multi-story Class “A” office buildings containing 200,000 square feet of space; five single-story office buildings offering 150,000 square feet of office space; six R&D/flex buildings containing 220,000 square feet of space; an 8,000 square foot retail building and four pad sites suitable for multiple retail applications. The buildings will be designed for LEED Certification by the U.S. Green Building Council. St. John Properties plans to initially break ground on the single-story office and flex/R&D buildings with delivery of the first product expected to occur in late 2021 before proceeding to subsequent phases..
“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,” explained 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 U.S. – 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 presently manages nearly one million square feet of commercial real estate assets in the Colorado region including Corporate Center, a fourteen-building 600,000 square foot business community in Golden; Sixth Avenue Place, a 145,000 square foot project in Golden; and Walnut Creek Business Park, which contains more than 200,000 square feet of space in the city of Westminster. Brandon Jenkins was named Regional Partner for the St. John Properties Colorado office last year after completing a five-year corporate partner-in-training program. The company also maintains regional offices in Louisiana, Utah, Virginia and Wisconsin.
According to data from the Broomfield Economic Vitality Division, Broomfield County is the third-fastest growing county in Colorado with a population that has nearly doubled over the past 20 years Approximately two-thirds of new residents have relocated from within the state. The median age of all residents is 37.6 with a median household income approaching $109,000. Major employers include CenturyLink, Oracle America, SCL Health Care, Ball Corporation and Vail Resorts. A number of companies engaged in high technology and research and development have relocated to the region in recent years.
Nearly 5.5 million people reside in Colorado, including nearly two million households, with a median age of 36.5 and more than 37.5% of the state population has earned a bachelor’s degree or higher. Statewide population has grown by nearly 730,000 people (14.5%) over the past decade which represents the fourth largest by percentage according to the United States Census Bureau.
St. John Properties, Inc., founded in 1971, owns and has developed more than 20 million square feet of R&D/Flex, Office, Retail and Warehouse space in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia, Utah, and Wisconsin. The company was named “2018 Developer of the Year” for the Nation by NAIOP, the Commercial Real Estate Development Association. For more information about the company, visit www.sjpi.com/colorado.