Denver developer to build high-tech space in Longmont

LONGMONT — A Denver development company plans to build up to 575,000 square feet of speculative "flex" space on the booming southwest end of town.
Chandelle Development recently paid $4.05 million for 83 acres at the southeast corner of Pike and Hover roads just south of Highway 119, said Joe Goltermann, a principal of the firm. The current farmland lies south of properties owned by Pratt Development.
Chandelle plans to construct "build-to-suit" buildings on the acreage or speculative buildings, depending on demand. Goltermann said he believes the demand is so great for such space that the development company could fill its space within the next three months if it started building tomorrow.
A city approval is expected to take about six months, Goltermann said. As soon as the city gives the go-ahead, Chandelle plans to build 250,000 square feet of space.
"We think it˜s a natural market for the high-tech companies. There˜s a good work force," Goltermann said. "It˜s a community that˜s open to development. And it˜s got proximity to Boulder and the work force there."
Because there is such a low vacancy rate, Chandelle wants to get started on the project as soon as possible, Goltermann said. Having a building in the construction stages also convinces potential users it˜s available.
Although several companies, including Pratt, currently are building in Longmont, Goltermann said Chandelle believes there˜s room for one more.
Chandelle is targeting larger users, he said, companies moving to Longmont from other areas, as well as growing Boulder County companies.