FCP and Lincoln Property Company (LPC), a privately held real estate investment company, have begun development on a life sciences campus in Broomfield, Colorado, near Boulder.
Located at 235 Interlocken Boulevard, CoRE – Colorado Research Exchange, will total approximately 450,000 square feet and consist of four buildings, three of which will be four-to-five story tenant buildings ranging from approximately 110,000 to nearly 200,000 square feet. The fourth property, to be utilized as an amenity center, will be 15,960 square feet. The best-in-class amenity center will include a fitness center, locker rooms, bike storage, a tenant lounge with fireplace, an outdoor terrace, a state-of-the-art conference/training facility, and a quality food market. Each tenant building boasts views of the Front Range, while abundant green space connects each of the properties.
Broomfield is located halfway between Denver and Boulder, along U.S. 36. Its highly educated workforce and close proximity to two metro areas has made it a highly sought-after area for new development, especially in the life sciences sector. Current demand for life sciences space in this area has reached over 1.4 million square feet, and continues to grow as companies focus on the market for its access to talent, capital and business-friendly environment.
The partnership envisions CoRE as an ecosystem designed to accommodate a variety of users in life science and technology, with Class-A amenities unheard of in this fast-growing sector. The campus is being designed by HKS Architects, a leading designer of lab space, with modern buildings optimized to accommodate a variety of lab, research & development, and light manufacturing uses, while flexible enough to accommodate all types of office uses. Customers will be able to take advantage of the abundant surface and covered parking options and enjoy collaboration space on the outdoor balconies with views of the Boulder Flatirons. Floorplates will range from 25,000 square feet to 40,000 square feet, will feature 14’ to 18’ ceiling heights, enhanced floor loading, and are structurally designed to minimize vibration. Each building will have loading docks and will be designed to accommodate specialized HVAC systems and emergency back-up power.
“Our purpose-built campus will include tenant spaces designed specifically to accommodate lab/life science or tech uses,” says Scott Caldwell, Senior Vice President of Lincoln Property Company. “Companies won’t need to rehabilitate or convert old office or industrial space; these facilities will be on the cutting edge of critical environments for a broad range of uses.”
“FCP is excited to partner with Lincoln Property Company, a leader in life science development, to deliver an amenity-rich and sustainable commercial environment to meet the strong demand for life science space in the Denver/Boulder market,” said FCP Senior Vice President for Commercial Investments, Liz Koteles. “As FCP continues to invest in high-tech, differentiated commercial assets, life science facilities will remain a high priority given the tight supply metrics and growth in this sector.”
Construction will begin in the Fall 2022. CoRE is expected to deliver in early 2024. Lincoln Property Company will be working with CBRE’s Chris Phenicie, Erik Abrahamson and Blake Harris on the marketing and leasing of the project.
About Lincoln Property Company Denver
Lincoln Property Company (LPC), founded in 1965, is a privately-held real estate firm involved in real estate investment, development, property management and leasing worldwide. LPC has offices in all major markets of the U.S. and throughout Europe. In Denver, LPC’s core team of real estate professionals focus on tenant representation services, development, construction management, LEED consulting, acquisition services, and property management throughout the Front Range.
FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.