Sale of 2555 Midway

Avison Young and Fountainhead Commercial announce sale of 436,534-sf industrial manufacturing campus in Broomfield, CO

Denver, CO – Avison Young and Fountainhead Commercial are pleased to announce the sale of 2555 W. Midway Boulevard, a R&D/manufacturing property situated within Atlas Industrial Park in Broomfield, CO. Strategically located in the heart of the Boulder–US Highway 36 corridor, the property consists of a highly specialized multi-level, multi-building campus with excess land.

Rick Egitto, CCIM, Principal with Avison Young, and Justin Rayburn, Principal with Fountainhead Commercial represented the seller, Mile High Labs. The all-cash buyers, ScanlanKemparBard and its partner, Cerberus Capital Management, have plans for redeveloping the property, and were self-represented.

Operated for years as a round-the-clock pharmaceutical Good Manufacturing Practices (GMP) manufacturing facility, the property, situated on just under 21 acres, is comprised of a two-building, 436,534-square-foot pharmaceutical/industrial campus. The main building, totaling 411,034 square feet, is primarily comprised of office, manufacturing processing, packaging, laboratory and climate-controlled warehouse areas. The second floor includes general engineering and office areas, laboratory areas and an employee cafeteria that is accessed via a sky bridge over the roof of the building. The second 25,500-sf building is comprised of laboratory and office areas. Lastly, the collective buildings feature nearly 12,000 amps of power.

Dixon Hinderaker, Vice President of Acquisitions with ScanlanKemparBard said, “We found the location of the property along US Highway 36 very attractive. Located equidistant to Boulder and Denver, the property allows prospective tenants the ability to leverage a highly skilled labor pool. Furthermore, the property features specialized attributes of climate-controlled warehouses, significant power, clear heights up to 38 feet, and the ability to accommodate outside storage space for prospective tenants. We are excited to bring a new chapter to the site”

The Denver industrial market continues to see solid investor and tenant demand even as the industrial vacancy rate temporarily hovering around 8% due to a significant amount of large bays warehouse recently having been delivered into the market,” said Egitto. “This asset provides the new ownership with the opportunity to capitalize on a strategic location for mid-market tenants seeking to serve the Boulder/Broomfield/Denver markets most immediately, and the entire metro area more broadly”.

ScanlanKemperBard is a real estate investor, operator and developer specializing in Urban Industrial and Suburban Mixed-Use commercial properties. The firm brings a cumulative approach and single-minded commitment to creating value for its partners: institutions, high-net-worth investors, trusts, and family offices. Since SKB’s founding nearly three decades ago, the firm has originated more than $5.5 billion in total portfolio activity.

Cerberus Capital Management, L.P. is a global leader in alternative investing with approximately $60 billion in assets across complementary credit, private equity, and real estate strategies. The firm invests across the capital structure where its integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Its tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for investors.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2024 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.

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Media Contact: Darcie Giacchetto, Media Relations & Content Specialist – Southwest: +1.949.278.6224