According to news from July 24, Columbine Plastics in Colorado has decided to move from Boulder to Louisville, Colorado, to the Louisville Colorado Tech Center. To do so, Columbine Plastics reportedly purchased a 21,500-square-foot building.
In news announced by The Colorado Group, a real-estate firm, it was reported that the building, which is registered to Columbine Plastics, had cost close to $2.11 million. This move is allegedly part of a plan to redevelop Columbine Plastics' building and nearby properties into a mixed-use development. Once done, the development will be known as SPARK or Sutherland Park.
According to one member of the Colorado Group, leasing activity at the Colorado Technology Center has been picking up. That's good news for the center, because it currently has a vacancy level below 10 percent. To help further flesh out the park, another developer will be adding two more buildings that are approximately a total of 203,477 square feet to the park. Columbine Plastics will be taking over a building in the business park that had previously been rented by Intrex Corp., a manufacturing firm that specialized in aerospace technologies. That company moved to Thornton.
At Columbine Plastics' old business park, it's expected that SPARK will grow with the development of additional townhomes for residences. The plans for that project could go in front of the Boulder Planning Board in 2014.
When moving to new locations and purchasing commercial real estate, it's important to know what you're getting yourself into. Are your rates appropriate? Does your lease have good policies if you need to cancel it? These are things you should consider before determining where you want to move your company.
Source: Daily Camera, "Columbine Plastics moving from Boulder to Louisville's Colorado Tech Center" Alicia Wallace, Jul. 24, 2014