New business incubator/office tech space is coming to an 11-acre site next to Arista in Broomfield.
Local development group GRVS LLC plans to start construction of the approximately 50,000-square-foot first phase of Northwest 36 this month. The project will cater to businesses looking to acquire spaces as small as 1,600 sf, up to standalone buildings of 11,000 to 18,000 sf.
“After analyzing the Front Range market, we continue to feel there is an unfilled need for upscale, small flex/office space, or business incubator/office tech space, in this area. This is evidenced by the massive influx of tech companies along the northwest U.S. 36 corridor,” said David Fingerhut, who formed GRVS with Stuart Dobson and Jason Pavlovic.
“Because of the wide variety of uses that are permitted, we expect anyone from startups to medical research and development companies, software companies, light manufacturing and light-duty warehousing users. We feel that our users will want to take advantage of the amenities that we will be offering, such as rooftop patios where they can enjoy sweeping views from the mountains to downtown. We also have the option of offering secure outdoor storage,” he said.
Northwest 36 is geared to those who want to own their space, but leases also will be entertained, and prices will be more economical than competing options, Fingerhut said.
“We feel that users who don’t want to pay Boulder or Denver rents or sales prices will find our development quite attractive,” said Fingerhut. “While we’re not technically part of the Arista development, we are contiguous with it and users will be able to take advantage of the local transit system if they so wish.”
The first phase of the approximately $30 million, 150,000-sf development will include three buildings expected to be delivered by June 2020. Once those buildings are sold and/or leased, another six buildings will be constructed. The project, which will be visible along U.S. Highway 36, is anticipated to take about two years to complete.
Northwest 36 will provide a pedestrian-friendly environment with more than a half-mile of walking trails and is within walking distance of over 1,000 residential units in Arista. Buildings will offer 22- to 24-foot clear height with options for glass or steel overhead doors and customized interiors. The project also will allow enclosed outdoor storage at up to 15% of building area.
Dobson, with Colorado Real Estate Brokers Inc., and Pavlovic, of Surety Realty Inc., are marketing Northwest 36, which is at Arista’s southern border. Howell Construction is the general contractor, and EV Studio is the architect.
Between its three partners, GRVS has approximately 40 years of development experience spanning office, warehouse, hospitality and single-family product types.