The company announced this week that it is planning a pair of new speculative industrial flex buildings that will total 203,477 square feet. That news comes at the same time the company announced that Broomfield-based Trelleborg Sealing Solutions has inked a 10-year lease on a 75,899-square-foot building at 1886 Prairie Way in the CTC.
The 1886 Prairie Way building formerly was occupied by athletic apparel company Pearl Izumi, which bought land across the street and moved into a new building there in November.
The new spec buildings, one at 1900 Cherry St., and the other at 1900 Taylor Ave., have been in the planning stage, Etkin Johnson president and co-owner David Johnson said. But the fact that the company was able to attract Trelleborg, coupled with the fairly low vacancy in the CTC overall, gave Etkin Johnson the confidence to go ahead with construction of the new buildings.
Groundbreaking is set for next week with completion by late summer, for the building at 1900 Cherry, a 66,776-square-foot single-story structure on 4.84 acres. Johnson said work on 1900 Taylor, a 136,701-square-foot building, could begin as early as April.
Jim Vasbinder, Etkin Johnson’s vice president for development, will oversee the projects, with Ware Malcomb providing architectural services and Murray & Stafford hired as general contractor. Johnson said cost of the new buildings, including land, construction and highly-finished interiors, would reach about $120 per square foot.
Johnson said it’s been a few years since his company has built anything in the CTC.
“We feel the economy is picking up, and the demand for space is picking up,” Johnson said, noting that his company is in negotiations with potential tenants of the new buildings.
Etkin Johnson owns eight industrial flex buildings in the CTC, totaling about 650,000 square feet, as well as 30 more acres of land available for build-out. Johnson said the company could build about 400,000 more square feet of industrial and flex space in the CTC in the next three to four years in addition to the two new buildings already planned.
“We’re kind of high on the marketplace there,” Johnson said, noting the high demand for such product along the U.S. Highway 36 corridor.
Trelleborg Sealing Solutions, a division of Sweden-based Trelleborg AB, moves up the corridor from Broomfield, where it has about 67,000 square feet of space in three buildings at 510 Burbank St. The provider of polymer-based sealing solutions for the aerospace, automotive, agriculture and oil and gas industries has about 125 employees in Broomfield. The company is expected to be fully operational in its new location in Louisville by fall 2014.