Avison Young negotiates 136,610-square-foot lease in Louisville, CO13 Aug 2019
Firm secures flex/industrial space for hemp-derived CBD extract-products company Charlotte’s Web
Denver — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has negotiated a long-term, 136,610-square-foot (sf) flex/industrial lease at 700 Tech Court on behalf of Charlotte’s Web in Louisville, CO.
Charlotte’s Web committed to a 10-year lease term with landlord Etkin Johnson. Avison Young Principals Justin Rayburn and Dawn McCombs, who are based in the company’s downtown Denver office, represented the tenant. The landlord represented itself in the transaction.
Charlotte’s Web will occupy the entire building at 700 Tech Court, which is located on the Colorado Technology Center’s Louisville Corporate Campus, the premier flex/industrial campus located at the epicenter of the Northwest Parkway/U.S. 36 Corridor in Boulder County. The space is currently undergoing extensive renovations and move-in is anticipated for early 2020. Charlotte’s Web will be relocating from its current location at 2425 55th Street in Boulder, CO, also known as Flatiron Park West, where it currently occupies 39,761 of rentable sf.
“Charlotte’s Web desired to enhance its R & D, production and distribution capabilities for the company’s explosive growth and to stay close to its headquarters location in Boulder. The 700 Tech Court offered a blank slate for the company to custom-design and construct a state-of-the-art facility – and the business park also provides expansion opportunities, as Charlotte’s Web continues to grow,” comments Rayburn.
Adds McCombs: “The northwest submarket is tight at 3.9% vacancy and offered limited options of the size and in the location to meet Charlotte’s Web’s requirements. The Colorado Technology Center proved to be the ideal location, where Charlotte’s Web will be surrounded by other like-minded leading manufactures and high-tech companies. Etkin Johnson understood the CBD industry and enthusiastically embraced the use. The transaction couldn’t have gone more smoothly.”