{"id":1004722748,"date":"2024-07-24T04:26:53","date_gmt":"2024-07-24T12:26:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722748"},"modified":"2024-07-24T06:49:21","modified_gmt":"2024-07-24T14:49:21","slug":"skb-buys-former-pharma-manufacturing-site-near-denver","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/skb-buys-former-pharma-manufacturing-site-near-denver\/","title":{"rendered":"SKB Buys Former Pharma Manufacturing Site Near Denver"},"content":{"rendered":"\n<p>ScanlanKemperBard, a Portland, Ore.,-based real estate investment and development firm, is expanding its Denver-area holdings with the acquisition of a 436,534-square-foot former pharmaceutical manufacturing facility in Broomfield, Colo., which will be aimed at attracting a diverse range of advanced manufacturing tenants.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"798\" height=\"610\" data-attachment-id=\"1004722755\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/skb-buys-former-pharma-manufacturing-site-near-denver\/aerial-view-of-midway-featured\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg\" data-orig-size=\"798,610\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Aerial view of Midway featured\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;ScanlanKemperBard is expanding its Denver-area holdings with the acquisition of 2555 W. Midway Blvd., a former pharmaceutical manufacturing facility in Broomfield, Colo. Image courtesy of ScanlanKemperBard&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg?w=798\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg\" alt=\"ScanlanKemperBard is expanding its Denver-area holdings with the acquisition of 2555 W. Midway Blvd., a former pharmaceutical manufacturing facility in Broomfield, Colo.\" class=\"wp-image-1004722755\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg 798w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg?resize=300,229 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Aerial-view-of-Midway-featured.jpg?resize=768,587 768w\" sizes=\"auto, (max-width: 798px) 100vw, 798px\" \/><\/a><figcaption class=\"wp-element-caption\">ScanlanKemperBard is expanding its Denver-area holdings with the acquisition of 2555 W. Midway Blvd., a former pharmaceutical manufacturing facility in Broomfield, Colo. <em>Image courtesy of ScanlanKemperBard<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>SKB purchased the 22.7-acre site at 2555 W. Midway Blvd. for $17 million from Mile High Labs, a CBD producer and cannabinoid product manufacturer. Todd Gooding, SKB president &amp; principal, told <em>Commercial Property Executive<\/em> the firm plans to spend $27 million to improve, demolish and renovate the two existing buildings on the site.<\/p>\n\n\n\n<p>\u201cWe have enough land to add about 100,000 square feet,\u201d Gooding said. \u201cWe have not made that determination at this time.\u201d<\/p>\n\n\n\n<p>Gooding mentioned the buildings are currently vacant but noted the property could be used by multiple tenants or a single one. <\/p>\n\n\n\n<p>The facility has nearly 12,000 amps of power, making it a prime location to serve businesses with substantial power requirements including those with advanced manufacturing operations. The buildings currently have clear heights ranging from 18 feet to 38 feet and include existing labs and clean rooms. The property has 609 parking spaces. There is also ample outside storage space for prospective tenants.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-mid-atlantic-metros-for-industrial-transactions\/\">Top Mid-Atlantic Markets for Industrial Transactions<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The site is located between Denver and Boulder, Colo., providing access to the region\u2019s highly skilled labor pool and advanced infrastructure, Gooding said. Broomfield is the primary aerospace and advanced manufacturing hub of the Denver metropolitan market. Nearby industry leaders include Honeywell Aerospace, Sierra Nevada Corp., Ball Aerospace and Lockheed Martin.<\/p>\n\n\n\n<p>The industrial property came online in 1974. Mile High Labs purchased the facility for $18.8 million in June 2019 from Novartis, which no longer used the site due to declining generics sales, according to <em>Fierce Pharma<\/em>. That deal included the land, labs, buildings and all the drug manufacturing equipment. The international company, founded in 2016, is now based in Loveland, Colo. In 2019, the company opened a distribution center in Belfast, Northern Ireland.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-skb-colorado-moves\">SKB Colorado moves<\/h2>\n\n\n\n<p>Founded in 1993, SKB focuses on major West Coast markets including Portland, Seattle, the Bay Area, <a href=\"https:\/\/www.commercialsearch.com\/news\/skb-buys-phoenix-area-business-center\/\">Phoenix<\/a> and Denver. The firm has generated more than $5.3 billion in portfolio activities and its diverse assets total more than 34 million square feet of commercial real estate.<\/p>\n\n\n\n<p>Gooding said SKB started investing in the Denver market in 2004. The firm acquired York Street Yards, a flexible <a href=\"https:\/\/www.commercialsearch.com\/news\/denver-portfolio-buyer-lands-82m-financing\/\">mixed-use industrial campus in Denver<\/a>, in January 2020. Tenants include electric vehicle manufacturer Rivian, which has a showroom in York Street Yards.<\/p>\n\n\n\n<p>Earlier this month, SKB and Landrock announced the acquisition of Walnut Business Center, a 6.4-acre urban industrial and retail complex in Boulder, Colo. The partners plan to invest heavily in the property to modernize it and create a state-of-the-art urban mixed-use district that caters to a variety of tenants similar to York Street Yards, Gooding mentioned. <\/p>\n\n\n\n<p>Planned enhancements include upgrades to roofing, parking lots and mechanical systems, as well as significant aesthetic improvements. The property, located between Walnut Street and Pearl Parkway, will also be rebranded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company is investing $44 million in the facility\u2019s acquisition and redevelopment.<\/p>\n","protected":false},"author":1068,"featured_media":1004722755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21748,21783,21742,15],"tags":[35381],"class_list":["post-1004722748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-industrial","category-investment","category-latest","category-west","tag-scanlankemperbard"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SKB Buys Former Pharma Manufacturing Site Near Denver - 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