Medtronic eyes 2020 for Louisville campus groundbreaking

LOUISVILLE — Medtronic Inc. could break ground on its new corporate campus in Louisville as soon as next fall, according to the developers of the Nawatny Ridge project on the former Phillips 66 site.

Brue Baukol founders Geoff Baukol and Chad Brue led a tour of the former Phillips 66 site Thursday. Lucas High/BizWest.

The medical device maker is planning a $133-million, 500,000-square-foot corporate campus on 90 to 100 acres on the Phillips 66 property, a 430-acre property located at U.S. Highway 36 and Northwest Parkway.

“They are working through [Louisville’s development] approval process,” said Chad Brue, co-founder of Denver-based real estate investment and development firm Brue Baukol Capital Partners. “The hope is to break ground in September or October of next year. They’re moving forward with plans to put their campus here.”

Medtronic employs about 2,000 workers in Colorado, including 500 elsewhere in Louisville. The company also has operations in Boulder, Denver and Parker.

The new campus is expected to take several years to build. 

Brue Baukol must first build roads and other infrastructure within the site before Medtronic can break ground, Brue said.

“We’re hoping to get approval [to begin infrastructure work] quickly,” he said. “As soon as we get that approval we’re going to start putting in the roads.” 

In addition to the Medtronic facility, Brue Baukol is planning a senior-living facility on the site, which has lain dormant for years.

The 1,500-unit senior-living and transition-care facility will be operated by Erickson Living LLC. 

 “We will probably be a year or so behind” Medtronic in terms of a groundbreaking schedule, Erickson’s development director John Tansey said. The hope is to break ground in 2021.

The Phillips 66 property formerly housed the corporate headquarters for Storage Technology Corp. StorageTek sold to Sun Microsystems Inc. in 2005 for $4.1 billion, and those workers eventually were moved to Sun’s Broomfield campus. Sun was acquired by Oracle Corp. in 2010.

In 2008, Sun sold the 430-acre property to ConocoPhillips for $55.6 million. The energy company announced plans to build a clean-energy research campus that would eventually create 7,000 jobs. But the subsequent spinoff of Phillips 66 (NYSE: PSX) from ConocoPhillips brought an end to those plans, and the property was put on the market.

The land was one of the sites submitted by the state of Colorado as a potential location for the Amazon HQ2 project, with the land under contract to Bancroft Capital. That deal never materialized.

 

LOUISVILLE — Medtronic Inc. could break ground on its new corporate campus in Louisville as soon as next fall, according to the developers of the Nawatny Ridge project on the former Phillips 66 site.

Brue Baukol founders Geoff Baukol and Chad Brue led a tour of the former Phillips 66 site Thursday. Lucas High/BizWest.

The medical device maker is planning a $133-million, 500,000-square-foot corporate campus on 90 to 100 acres on the Phillips 66 property, a 430-acre property located at U.S. Highway 36 and Northwest Parkway.

“They are working through [Louisville’s development] approval process,” said Chad Brue, co-founder of Denver-based real estate investment and development firm Brue Baukol Capital Partners. “The hope is to break ground in September or October of next year. They’re moving forward with plans to put their campus here.”

Medtronic employs about 2,000 workers in Colorado, including 500 elsewhere in Louisville. The company also has operations in Boulder, Denver and Parker.

The new campus is expected to take several years to build. 

Brue Baukol must first build roads and other infrastructure within the site before Medtronic can break ground, Brue said.

“We’re hoping to get approval [to begin infrastructure work] quickly,” he said. “As soon as we get that approval we’re going to start putting in the roads.” 

In addition to the Medtronic facility, Brue Baukol is planning a senior-living facility on the…