Etkin Johnson snags tenant for 136,610-sf spec building

Charlotte’s Web leased a new 136,610-square-foot building at Louisville Corporate Campus.

Etkin Johnson Real Estate Partners signed a tenant for a new 136,610-square-foot speculative industrial/flex building at Louisville Corporate Campus, prompting construction of a second building in the campus.

Charlotte’s Web Holdings Inc., a cannabidiol products company, signed a 10-year lease for 700 Tech Court. Dawn McCombs and Justin Rayburn of Avison Young represented the tenant.

The building will give the fast-growing Charlotte’s Web more than three times its current manufacturing capacity. There also is the opportunity to expand into adjacent, to-be-constructed buildings in the future.

Charlotte’s Web will be relocating from its current 39,761-sf location at Flatiron Park West in Boulder.

“Charlotte’s Web desired to enhance its R&D, production and distribution capabilities for the company’s explosive growth and to stay close to its headquarters location in Boulder. The 700 Tech Court offered a blank slate for the company to custom design and construct a state-of-the-art facility – and the business park also provides expansion opportunities as Charlotte’s Web continues to grow,” said Rayburn.

“Charlotte’s Web is a pioneer, not only because of the innovative products they manufacture and sell, but because of their extensive research and development into the cultivation and processing of industrial hemp for CBD extracts,” said Ryan Good, partner at Etkin Johnson. “We are in the midst of a game-changing moment for companies in the CBD space, and we’re proud to be a part of it with Charlotte’s Web. We look forward to supporting the company’s continued growth in Boulder County.”

”We are grateful to the Etkin Johnson team for their quick and efficient assistance in locking down this outstanding facility in Louisville,” said Stephen Lermer, chief operating officer of Charlotte’s Web Holdings Inc. “Louisville is a prime location for us midway between Boulder and Denver where we have and source top employee talent. We look forward to contributing to the growth, economy and families of Louisville as we continue to grow.”

Louisville Corporate Campus is located within the Colorado Tech Center. With 700 Tech Court fully leased, Etkin Johnson broke ground on 600 Tech Court, the second of three buildings planned for Louisville Corporate Campus. The 113,288-sf industrial/flex building is expected to deliver in the first quarter. It will feature 24-foot ceilings, natural light from 10-foot window bands on three sides, overhead glass doors to create indoor/outdoor workspaces, multiple loading capabilities and an energy-efficient design.

The Northwest Corridor continues to see steady demand for new industrial/flex space as companies look to relocate or expand within Boulder County. The area’s proximity to both Boulder and Denver talent pools, along with easy access to multimodal transportation options, make it an attractive option for businesses – like Charlotte’s Web – looking to grow or expand,” said Good.

“New product like 700 Tech Court and 600 Tech Court, currently under construction, offer features not typically found in second-generation spaces, like abundant natural light, floor-to-ceiling windows and indoor/ outdoor workspaces designed to improve the quality of life for employees,” he added.

Etkin Johnson owns more than 3 million sf of industrial and office property, along with hospitality and multifamily assets, along the Front Range.

Featured in CREJ’s Aug. 21-Sept. 3, 2019, issue

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of…