JLL Capital Markets represents the joint venture between Vitrian and Koelbel and Company for a conversion for biomanufacturing/advanced manufacturing facility in Boulder County, Colorado

  

Ginna Wallace

WASHINGTON, DC, Mar. 14, 2024 –  JLL Capital Markets announced today that it represented the joint venture between Vitrian and Koelbel and Company to raise equity for the Centennial Valley Innovation Center, the conversion of a vacant, former home improvement store into a state-of-the-art biomanufacturing/advanced manufacturing building totalling 134,393 square feet in Boulder County, Colorado.

 

Hilary Barnett

A fund managed by DRA Advisors LLC provided joint venture equity for the acquisition and conversion of the project for a conversion for biomanufacturing/advanced manufacturing facility in Boulder County, Colorado

Scott Nudelman.

The project is located at 1171 West Dillion Rd. in Louisville, Colorado, a 15-minute drive from Boulder and 30 minutes outside of Denver. 

The venture will reposition the former home improvement store into a state-of-the-art GMP/advanced manufacturing facility to cater to the Denver/Boulder life science and advanced manufacturing markets.

The project is located in the Centennial Valley Business Park, a highly-amenitized established life science and advanced manufacturing node, with many retail/restaurants accessible within walking distance.

 

Upon completion of the conversion, 1171 W Dillon Rd will offer the closest dedicated biomanufacturing and advanced manufacturing capable space to Boulder, home to the University of Colorado’s main campus and the largest life science R&D hub in the Intermountain West. The project will be ready for interior build within six months.

Rendering of planned biomanufacturing/advanced
 manufacturing facility at 1171 West Dillion Road
 in Louisville, CO

Boulder County benefits from an existing manufacturing labor pool, providing access to skilled workers. The region is a top five market for research jobs, and the No. 1 market for chemical engineers, No. 4 market for biological scientists, and No. 6 market for biological technicians.

Jim Meisel 

Additionally, the proximity to a major research university and hospital system venture arm offers access to grant funding opportunities.

 

“Vitrian, Koelbel and DRA have deep roots in the Colorado marketplace and in the Centennial Valley in particular,” said Co-Founder of Vitrian Scott Nudelman. 

“As biomanufacturing and non-pharma advanced manufacturing expands beyond the coastal markets, Boulder County will continue to benefit. 

"We look forward to collaborating with companies and stakeholders in the region, including the Colorado Bioscience Association and Institute, Front Range Community College and non-profit organizations focused on STEM workforce development.”

Peter Merrion

The JLL Capital Markets team was led by Senior Managing Directors Jim Meisel and Peter Merrion, Senior Director Dave Baker and Associate Ginna Wallace, as well as Senior Managing Directors Mark Katz, Andrew Weir and Matt Nicholson, Senior Director Hilary Barnett and Director Kevin Byrd.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. 

Dave Baker

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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