800
HOYT STREET
Broomfield, Colorado 80020
Marketing & Leasing Proposal
PREPARED FOR
Northstar Commercial Partners R. Brian Watson Founder and President
PREPARED BY
Chris Ball, SIOR, CCIM Brandon Ray
February 28, 2013
800 HOYT STREET
Table of Contents 1
2
800
HOYT STREET
Broomfield, Colorado 80020
Market Data • • • •
..................................................................... Page 2-5 Flex/Industrial Market Data Competitive Flex/Indusrial Properties For Lease Office Market Data Competitive Office Properties For Lease
Marketing Plan
............................................................... Page 6-7
• Action Plan • Marketing Activities
3
Marketing Team
4
Conclusion
............................................................ Page 8-10
• Team Responsibilities • Team Profiles • Success Stories
........................................................................ Page 11-12 • Marketing Recommendations • Why Hire Us?
Table of Contents
800
Flex/Industrial Market | US 36 Corridor & Boulder County Vacancy & Rental Rates
HOYT STREET
Broomfield, Colorado 80020
Target Area
Hi
gh
wa
y
Longmont
on
al
Highway 52
Di
ag
Niwot
I N T E R STAT E
25
Boulder
Lafayette
Source: CoStar
Market Predictions (Next 24 Months) • Demand increases from existing and new companies • Vacancies continue to fall to 7 - 7.5% • Rental rates rise in late 2013, early 2014 • Values improve with better fundamentals and lack of distressed real estate
US
Louisville 36
Superior
800 Hoyt Street
Broomfield
88th Avenue
Westminster
Page 2
Competitive Flex/Industrial Properties For Lease
800
HOYT STREET
Broomfield, Colorado 80020
40,000-120,000 RSF Available 1.
20 N. Bowen Longmont, CO 80501
10.
• 61,792 SF • $6.00-$7.00/SF NNN 2.
4.
3. 5. 6.
• 81,950 SF • $3.95/SF NNN
1. 2.
Longmont
1625 S. Fordham St. Longmont, CO 80503 wa
y
• 62,082 SF • $10.50-$11.50/SF NNN
gh Hi
11.
Highway 52
1285 S. Fordham St. Longmont, CO 80503
7.
• 101,944 SF • $4.95/SF NNN
8.
Boulder
I N TER STATE
25
9. 10.
12. 4.
Lafayette
2950 Colorful Ave. Longmont, CO 80504
US
• 81,750 SF • $4.50-$8.50/SF NNN
1795 Dogwood St. Louisville, CO 80027 • 109,068 SF • $7.00/SF NNN
ag
on
al
Niwot
Di
3.
555 Aspen Ridge Dr. Lafayette, CO 80026
• 403,871 SF • $4.50-$9.00/SF NNN
Louisville 36
333-335 Centennial Pky. Louisville, CO 80027
11. 12.
5.
1850 Lefthand Cir. Longmont, CO 80501
Superior
800 Hoyt Street
Broomfield
13. 14.
13.
• 61,116 SF • $3.00-$3.75/SF NNN 6.
• 52,200 SF • $7.25/SF NNN
1844 Nelson Rd. Longmont, CO 80501
88th Avenue
Westminster
• 152,218 SF • $4.00-$8.00/SF NNN 7.
4801 N. 63rd St. Boulder, CO 80301 • 128,000 SF • $4.00-$8.50/SF NNN
1575 W. 124th Ave. Westminster, CO 80234
14. 8.
2860 Wilderness Pl. Boulder, CO 80301 • 60,000 SF • $22.00SF NNN
9.
1900 N. 57th Ct. Boulder, CO 80301
1200 W. 120th Ave. Broomfield, CO 80234 • 1,193,071 SF • $3.50/SF NNN
• 44,800 SF • $7.95/SF NNN Page 3
800
Office Market | US 36 Corridor & Boulder County Vacancy & Rental Rates
HOYT STREET
Broomfield, Colorado 80020
Target Area
gh
wa
y
Longmont
al
Hi
Highway 52
Di
ag
on
Niwot
I N T E R STAT E
25
Boulder
Lafayette
Source: CoStar US
Market Predictions (Next 24 Months) • Demand increases from all sectors • Vacancies fall 1-2% points • Rental rates rise 5% in 2013 and 10% in 2014 • Values rise with strong fundamentals and limited speculative development
Louisville 36
Superior
800 Hoyt Street
Broomfield
88th Avenue
Westminster
Page 4
800
Competitive Office Properties For Lease
HOYT STREET
Broomfield, Colorado 80020
40,000-120,000 RSF Available 1.
5665 Flatiron Pkwy. Boulder, CO 80301
7.
305 Interlocken Pkwy. Broomfield, CO 80021 • 47,444 SF • $14.00/SF NNN
• 41,345 SF • $13.50/SF NNN
500 Eldorado Blvd., Bldg. 2 Broomfield, CO 80021
Hi al
25
Di
9.
Boulder 1.
• 40,664 SF • $23.50/SF FS
4.
329 Interlocken Pkwy. Broomfield, CO 80021
US
Louisville 36
• 42,467 SF • $15.50/SF NNN
385 Interlocken Crescent Broomfield, CO 80021 • 138,328 SF • $18.00-$24.00/SF NNN
6.
500 Eldorado Blvd., Bldg. 6 Broomfield, CO 80021 • 83,744 SF • $23.50/SF FS
10.
3.
Superior 5.
105 Edgewater Dr. Broomfield, CO 80021 • 186,231 SF • $21.00-$25.00/SF NNN
Lafayette
2.
335 Interlocken Pkwy. Broomfield, CO 80021 • 70,793 SF • $15.50/SF NNN
INTE RSTATE
ag
• 44,491 SF • $11.95/SF NNN
3.
8.
Gunbarrel
gh
2560 55th St. Boulder, CO 80301
on
2.
wa
y
Highway 52
6.
4. 7.
• 97,922 SF • $16.00-$17.00/SF NNN
800
5.
10355 Westmoor Dr. Westminster, CO 80021
Hoyt Street
Broomfield
8. 9.
10.
11.
7233 Church Ranch Blvd. Westminster, CO 80021 • 46,445 SF • $12.00/SF NNN
11.
88th Avenue
12.
Westminster 12.
500-550 E. 84th Ave. Thornton, CO 80229 • 332,943 SF • $12.00-$14.00/SF MG
Page 5
800
Marketing Plan | Action Plan
HOYT STREET
Broomfield, Colorado 80020
First 30 Days To Create “Total Marketing Exposure” Cassidy Turley will Complete the Following in the First 30 Days of the Listing Period: • Create Color Property Brochure • Create Marketing Postcard
601 Corporate Circle , Units B, C & D
Golden, Colorado
• Market Property to 50+ Cassidy Turley Brokers
11575 Main Stree t
Broomfield, Colorado
11575 Main Stree t
Broomfield, Colorado
• Install Signage
A
I-7
0
W es
t
• Market Property on:
B C D Available
FOR LEASE
Industrial $10.50/SF NNN 9,336 SF to 30,221 SF
Sale $1,080,000
• •
CoStar
FOR SALE OR
The building is a For total of 54,396 SF with a 24,175 SF In 2009, the owner $5.95/SF NNN office building For Lease built a new addition built in 1995 and construction and of occupied by is located in Corporate 30,221 SF, which is now available for lease. The building The Bailey Company. offers unparalleled Center, which is visibility and outstanding one of west Denver’s is of day. There is easy best business locations. the highest quality signage opportunitie access s from I-70 west The new addition see reverse for features to virtually every major highway: and exposure to over 80,000 vehicles US 6/Highway 93, and aerial. I-70, C-470 and per US 40/West Colfax. LEASE Please Louisville, Colorado
ur Avenue 437 South Arth For more information,
Xceligent
• •
Chris Ball, SIOR, Senior Vice President 303-312-4280 cball@ctfuller.com
Circle 862 Brickyard
1515 Arapahoe Street, Suite 1200 Denver, Colorado 80202
Broomfield Corporate Center is a state-of-the Panattoni Developmen Colorado art, two-building, 195,200 t Company. Golden, The buildings were SF industrial/flex 12,800 to 195,200 constructed to accommoda project built by SF. The facility provides te users ranging 18’ to 24’ ceilings, merous appealing in size from approximate amenities for warehousin large truck courts, ly dock-high and drive-in g and flex users. booming Boulder The project is located loading and nuTurnpike corridor, allowing excellent at the east entrance 287 and I-25 via access to Highway 104th or 120th 36 via the new Westminste to Broomfield in the Avenue. r Boulevard or Highway
ph: 303-292-3700 fx: 303-534-8270
www.ctfuller.com
For more information,
please contact:
Listing #L21299
R.C. Myles, SIOR, CCIM Senior Vice President 303-312-4226 rcmyles@ctfuller.com The information contained
FOR LEASE Industrial/Flex 12,800 SF Space - First Year Rate of $6.95/SF NNN Broomfield Corporate Center
please contact:
Esther Kettering, Senior Vice President 303-312-4278 ekettering@ctfuller.com
LoopNet
herein has been given
Chris Ball, SIOR Senior Vice President 303-312-4280 cball@ctfuller.com
to us by the owner of
the property or other
sources we deem reliable.
We have no reason to
1515 Arapahoe Street, Suite 1200 Denver, Colorado 80202 ph: 303-292-3700 fx: 303-534-8270
For more information,
we do not guarantee
it. All information should
be verified prior to purchase
It has south side Technical Center. warehouse, in the Colorado doors, high clear building is located three drive-in This 12,060 SF for aerial. one covered dock, Please see reverse loading and parking, clean offices. heat and three radiant in floor
1.70 Acres 19’ - 21’
Ceiling Height:
20 Spaces
Parking:
volt, 3 phase 225 Amps, 120/208
Power:
In floor radiant (2010) $28,938.98
Heat Type:
• Broadcast Email to Brokerage Community
Street, Suite 1515 Arapahoe 80202 Denver, Colorado 0 ph: 303-292-370 0 fx: 303-534-827
Taxes: For more information,
please contact:
Brandon Ray 303-312-4250 bray@ctfuller.com
Chris Ball, SIOR 303-312-4280 cball@ctfuller.com
The information
contained herein
has been given
to us by the owner
of the property or
other sources we
deem reliable. We
have no reason
1200
www.ctfuller.com
to doubt its accuracy,
the property or other
sources we deem reliable.
is able to use building An office/service/wareho l/industrial uses. This newer of commercia a wide variety make this property a secure yard accommodate ploration firms extras including abundance of engineers, geology/ex contractors, attractive for and many others. up against the Golden, nestled the is in northwest with remarkable views of The location formation distinctive hogbackNorth Table Mountain. as foothills as well 6 and C-470, Highway 93, or access to Highway Boulder, Denver The site has easy the ability to reach either see reverse for with minutes. Please Highway 58 in about 20 Highlands Ranch photos. aerial and additional
12,060
Lot Size:
to us by the owner of
,000 FOR SALE $1,995
12,060
Available SF:
herein has been given
We have no reason to
1515 Arapahoe Street, Suite 1200 Denver, Colorado 80202 ph: 303-292-3700 fx: 303-534-8270
www.ctfuller.com
doubt its accuracy, but
we do not guarantee
it. All information should
be verified prior to purchase
or lease.
Board Room
Features SF: Total Building
Reception Chris Ball, SIOR Senior Vice President 303-312-4280 cball@ctfuller.com
or lease. The information contained
Cassidy Turley Website
please contact:
R.C. Myles, SIOR, CCIM Senior Vice President 303-312-4226 rcmyles@ctfuller.com
www.ctfuller.com
doubt its accuracy, but
but we do not guarantee
it. All information
should be
Site Improvements security gates
r Fenced yard with oil intercepto wash area with Outdoor vehicle system Landscape irrigation
•
• •
system Radiant heat – high volume Exhaust fans
• •
for Purchase Also Available
Furniture systems furniture training room Conference and Clean System Hotsy Steam throughout r and air lines • Compresso
•
•
• Mail Marketing Postcard to Targeted Tenant Prospects
please contact:
Chris Ball, SIOR Senior Vice President 303-312-4280 cball@ctfuller.com
Land
•
•
•
Attractive reception office Corner executive w/ full bathroom
•
•
Board room room Weight/exercise
•
Kitchen
•
•
Warehouse / Shop Clear Height: Overhead Doors:
• •
•
Indirect lighting Security alarm select doors Cyberlocks on Mountain views
• • • •
20-23’
2 @ 12’w X 14’h 2 @ 14’w X 14’h 1 @ 12’w X 14’h East 3 @ 12’w X 14’h North storage above crib w/ mezzanine Secured tool vehicles floors for heavy Reinforced concrete
•
Break room
•
Electrical:
•
Restroom:
•
2.62 Acres
& 2nd floor Restrooms – 1st ceilings First floor - 8’8” 8’5” ceilings Second floor -
•
Training room
South
Taxes: 2010 Property
•
For more information,
7,144 SF 6,300 SF 13,444 SF
Office
•
Systems purchase or lease. verified prior to
Office Warehouse/Shop Total Building
Esther Kettering Senior Vice President 303-312-4278 com ekettering@ctfuller.
ph, 800 amps 120/208 V, 3 Full w/ shower $36,590.38 1200 Street, Suite 1515 Arapahoe 80202 Denver, Colorado 0 ph: 303-292-370 0 fx: 303-534-827
www.ctfuller.com
• Phone Targeted Prospects • Present Property to Broomfield Economic Development • Include Property on Multi-Property Mailers and Emails • Present Property at Commercial Brokers of Boulder • Foot Canvas Target Markets • Regular Communication with Ownership
Total Market Exposure
Maximize Impressions
Maximize Prospects
Maximize Activity
Maximize Value
Page 6
Marketing Plan | Marketing Activities Co-Brand/Market with Innovation Pavilion
Open House
800
HOYT STREET
Broomfield, Colorado 80020
Marketing Center
800 Hoyt Street
800 Hoyt Street, Broomfield CO. Marketing Center
Broadcast eMails
Postcards
Broker Tours
Property Tour Plan Orchard Road
Target
Target
• Tenants • Brokers
• Tenants • Brokers
Greenwood Plaza Boulevard
Floorplan Discussion
Page 7
800
Marketing Team | Team Responsibilities
HOYT STREET
Broomfield, Colorado 80020
Chris Ball and Brandon Ray Current Listings INTE RSTATE
25
MARKETING TEAM Westgate Office Park
3550 Frontier Ave.
555 Aspen Ridge Dr.
333-335 Centennial
1265 Rock Creek Cir. 800 Hoyt St. 1505 1st Ave.
Chris Ball, ccim, sior
1100 S. McCaslin Blvd.
Brandon Ray
Senior Vice President
Broker Associate
20 Years Experience
Park Tech Center
10401 W. 120th Ave. 7247 W. 116th Ave.
3 Years Experience Walnut Creek
Team Leader Market Analysis Community Contacts Lead Negotiator Prospecting
Lead Generation Property Marketing Process Implementation Contact Management
19000 State Hwy. 72
7070 W. 117th Ave.
7233 Church Ranch Blvd.
9160 Marshall Pl. IN T ER STAT E
76
12014 W. 64th
Catamount Business Park Canyon View, Lot 27
4403 Table Mountain Dr.
701 Pine Ridge Rd.
7355 Ralston Rd. 11900 W. 44th Ave. IN T ER STAT E
270
Coors Tek Lot 1
4975 Miller
791 Pine Ridge Rd.
SUPPORT TEAM
IN T ER STAT E
1375 Catamount
9710 W. 50th Ave.
818 Hogback Dr.
12430 W. 44th Ave.
831 Pine Ridge Rd.
Golden Business Center
COO & EVP
Legal
Marketing & Design
Team Management
Property Management
Kristine E. Reinhardt Oversight
Brian Baker Document Preparation Document Review
Teri Merbach Design and Layout Production Implementation
Amy Geschwell Marketing Coordination Process Management Scheduling & Administration Listing Management
Alex Fox Property Services Construction Management
12900 W. 43rd Ave.
1000 10th St.
862 Brickyard Cir.
70
601 Corporate Cir. INT E RSTAT E
70
I-70 W. Corporate
INT ERSTAT E
25
14322 W. Belleview Ave.
Page 8
800
Industrial Team | Team Profiles
Chris Ball, SIOR, CCIM Senior Vice President 1515 Arapahoe Street, Suite 1200 | Denver, CO 80202 T 303.312.4280 C 303.332.6954 F 303.534.8270 chris.ball@cassidyturley.com | cassidyturley.com/colorado Professional Expertise Having been exposed to commercial real estate all his life through a family business and other pursuits, Chris Ball brings broad knowledge of the commercial real estate industry to Cassidy Turley. Since joining in 1994, Chris has completed over $250 million dollars of lease and sale transactions on behalf of his clients. Using analytical skills, creativity and a keen knowledge of market dynamics, he has completed both economically and logistically complex deals. Chris has a strong perspective of the Northwest Denver/ Boulder market and understands the needs and expectations of different types of building owners, users and tenants. Areas of Specialization Landlord Representation, Industrial Services Tenant Representation, Industrial Services Professional Recognition Cassidy Turley Colorado Top Industrial Producer, 2010 Cassidy Turley Colorado Top Industrial Producer, 2009 Cassidy Turley Colorado Production Achievement Award Denver Metro Commercial Association of Realtors (DMCAR) Million Dollar Roundtable Community Leadership Past Chairman, Broomfield Economic Development Corporation Past Chairman, Golden Economic Development Commission Volunteer, Big City Mountaineers Professional Affiliations Stockholder, Cassidy Turley Colorado Programs Committee, National Association of Industrial and Office Properties (NAIOP) Executive Board, Denver Metro Commercial Association of Realtors (DMCAR) Executive Board, Commercial Brokers of Boulder (CBB) Past President, Colorado Chapter, Society of Industrial and Office Realtors (SIOR) Member, Certified Commercial Investment Member (CCIM) Member, Energizing Tomorrow Task Force Member, Jefferson County Economic Development Corporation Education Bachelor of Science, College of Business, University of Colorado, graduated Cum Laude
HOYT STREET
Broomfield, Colorado 80020
Brandon Ray Broker Associate 1515 Arapahoe Street, Suite 1200 | Denver, CO 80202 T 303.312.4250 C 970.217.5826 F 303.534.8270 brandon.ray@cassidyturley.com | cassidyturley.com/colorado Professional Expertise Brandon Ray joined Cassidy Turley in 2010 as a Broker Associate specializing in industrial properties in the northwest Denver and Boulder markets. He brings four years of experience in consulting and business-to-business sales to every assignment. Areas of Specialization Owner/Occupier Sales Landlord Representation, Industrial Services Tenant Representation, Industrial Services Representative Client List • TirExchange • Hogan Action • Cyclo Tool Makers • Piezo Technologies • Otterbox • Alpine Artisan Studios • EAS Colorado • Colonial Van Lines • Nuline Manufacturing Recent Major Transactions • First Industrial Realty Trust, Park Technology Center, 1020 West 124th Avenue, Westminster, Colorado - 150,863 SF • The Krausz Companies, Inc., Broomfield Corporate Center, 11575 Main Street, Broomfield, Colorado - 102,400 SF Community Leadership Volunteer Coach, Fort Collins Arsenal Soccer Club Volunteer Coach, Broomfield Blast Soccer Club Professional Affiliations Member, Denver Metropolitan Commercial Association of Realtors (DMCAR) Member, Commercial Brokers of Boulder (CBB) Candidate, Certified Commercial Investment Member (CCIM) Education Bachelor of Arts, Advertising, Hawaii Pacific University Bachelor of Arts, Public Relations, Hawaii Pacific University
Page 9
Success Stories
800
HOYT STREET
Broomfield, Colorado 80020
Downtown Boulder
29 t h
a Ar
pa
ho
Pearl S t.
University of Colorado
St M all
Foothills Business Park
BN
Broomfield Corporate Center 11575 & 11525 Main St. Broomfield, Colorado 80020
29th S t.
e
SF
Ra
il
Fo o t
hills
Pk w
30 th S t.
y
Foothills Business Park 3550 & 3850 Frontier / 3825 Walnut St. Boulder, Colorado 80301
2 Buildings Totaling 195,000 SF: 100% Leased
3 Buildings Totaling 288,000 SF: 100% Leased
Challenge: Panattoni’s build to suit buyer filed bankruptcy before completion of construction
Challenge: Lease 40 year old metal, single tenant, manufacturer buildings in central Boulder.
of the project.
Solution: Create strategy to multi-tenant the project to maximize value and sell in a timely manner.
Our Strategy: Identify and lease the project to high quality corporate tenants needing a quality building with unique infrastructure.
Success: 100% Leased the north building to several tenants: Ball Aerospace,
Solution: Create strategy to lease project and stabilize for longterm hold. Our Strategy: Identified outdoor products industry as being underserved in the market. Decided to market the buildings as a multi-tenant project in 20,000 – 40,000 SF office/warehouse space.
Success: Leased project to 100% with variety of quality tenants including: Spyder, La Sportiva, Scarpa, Sea to Summit, Light House Solar, Ironman, Tundra Specialties, WW Grainger and Mont∙bell.
Denver Newspaper Agency, Ball Plastics, Corgenix and Impact Sports. 100% Leased south building to TIAA CREF as a data center on a 15 year lease.
Page 10
Conclusion | Marketing Recommendations
800
HOYT STREET
Broomfield, Colorado 80020
The Highest and Best Use Analysis
Flex/Industrial
Office
Target Industry Sectors
Target Industry Sectors • Technology • Call Center • Administration Operations (back office) • Higher Education
Demand growing for quality high value manufacturing and R&D space, with limited options in 40,000–120,000 SF range • • • •
Aerospace Energy Medical Device Electronics
Recommendations Lease Rates: $7.00-9.00/SF NNN
Demand in all classes is pushing tenants to more economic options. 40,000–120,000 SF options are primarily higher end of market
Recommendations Lease Rates: $10.00-$11.00/SF NNN
Data Center
• Demand growing for cloud based and mission critical operations • Low risk, low profile locations desirable • Few facilities have existing power, telecom, HVAC or hardened structure desired • Xcel rates are not competitive nationwide • Colorado has minimal incentives for data centers • Broomfield/Boulder have potential for user or technology development space with data center component • Feasibility study and national marketing with Cassidy Turley Mission Critical Group Recommendations Lease Rates: $10.00-$20.00/SF NNN
Lease Terms 5 -10 years
Tenant Improvements 100% finished with mix of styles: • Skylights/extensive window line • Open ceiling/drop ceiling/clouds • Few hard wall offices • Amenities: coffee bar, outdoor space, foosball
Commissions
Lease Terms 5 – 10 years
Lease Terms 10-20 years
Commissions
Commissions Blend of Flex/Industrial and Office
Tenant Improvements 20%- 50% office with conditioned production areas
Cooperating Broker Transaction: 8% of total net rents Direct Transaction: 6% of total net rents
Cooperating Broker Transaction - $1.50/SF per year up to 5 years
Tenant Improvements Heavily powered and conditioned space with numerous other infrastructure upgrades
Direct Transaction - $1.00/SF per year up to 5 years
Page 11
Conclusion | Why Hire Us? Why Hire Us? The Right Team
800
HOYT STREET
Broomfield, Colorado 80020
Park Technology Centre Greg Downs First Industrial 720.528.7223
We combine the correct blend of experience and enthusiasm to find the prospects and close the deal for you.
No Conflicts
Marketing this property does not conflict us between clients and other listings and you will be the beneficiary of our unclouded focus.
Our Market
This property is in the heart of our focus area which gives us insight into prospects and market trends that we can use to deliver results to you.
Communication
Our team communicates with you and the marketplace frequently and in detail to make sure the property is remembered and understood.
Creative
Superior Pointe Ted Prosser Sequoia Properties 828.242.4722
We use new ideas for marketing and deal structure to create opportunities for gaining prospects and closing deals.
THIS POWERFUL COMBINATION PROVIDES RESULTS TO YOU!
JUST ASK OUR CLIENTS!
Your Team! • • • • •
Northwest market: Broomfield/Boulder focus We understand and embrace the incubator concept and the importance of the “Creative Class” Leader in area economic development efforts Growing team with expanding network and database Looking forward in our careers!
Foothills Business Park Chris King DPC Development 720.528.3341
Page 12
Cassidy Turley Colorado / 1515 Arapahoe Street, Suite 1200 / Denver, Colorado 80202 / 303.292.3700 / www.cassidyturley.com/colorado