Construction of a Coal Creek Innovation Park in Boulder County, Colorado, by PMB and Montgomery Street Partners, is set to commence. Last month, the town of Superior’s Board of Trustees gave their final approval to the project’s Development Plan. This $280 million project will be the first purpose-built lab space of its kind in Boulder County.
The Creek Innovation Park is intended to meet the high demand for life sciences spaces in Boulder County. Therefore, this 365,000-square-foot life sciences project is designed specifically to provide for the technical needs of tenants seeking such spaces. CBRE will handle leasing arrangements for the new development, which includes 4 buildings comprising lab space, office, and retail.
Also Read Construction begins on One Canal Life Science, Massachusetts
Development plans for the Coal Creek Innovation Park
Development plans for the Creek Innovation Park will involve the construction of 3 office/lab buildings. The sizes of these buildings will range from 85,000 square feet to 150,000 square feet. In addition, the project also features a fourth building, which offers ground-floor retail and structured parking at the site. Construction on the facility is scheduled to begin by Q2 of 2023, with its delivery date set for Q3 of 2024.
According to PMB’s senior V.P, Ben Rosenfeld, the Creek Innovation Park offers tenants more flexibility to make necessary improvements. This includes up to 50,000 square feet of speculative lab space to match their market needs. Additionally, these buildings will be designed as 16-ft. floor-to-floor height structures, offering flexible infrastructure for office/lab and R&D purposes. On top of that, tenants will also have access to shared lab services. Several such amenities include a dedicated laboratory water source, compressed air, glass wash, and lab waste systems.
CBRE’s senior V.P Nelson Udstuen, also said Life sciences companies were quite specific about technical requirements for their spaces. As a result, the Coal Creek Innovation was intentionally designed with these needs in mind. Some of these lab-specific features range from the 100% outdoor air return to generator backup and expanded electrical load capacity. He further stated that the project also meets all real estate needs of prospective tenants. Therefore, biotech companies that choose this location can focus exclusively on their science work.
