Project
Manufacturing Facility
Location
Broomfield, CO
Project Description
A vacant former industrial/manufacturing facility located on 20+/- acres.
Project Background
RESIGHT purchased this former semi-conductor manufacturing facility located in Broomfield, Colorado. The 20 acre site included an approximately 110,000 square-foot industrial/office building that had not been occupied for a number of years. This area of Broomfield is located along the U.S. Highway 36 corridor which is a strong industrial and technological market in the northwest Denver Metropolitan Area. The property had been on and off market for approximately five years primarily due to the environmental challenges that existed from past industrial operations.
Business Plan
RESIGHT’s business plan included: (1) Administratively managing the properties current liabilities including regulatory oversight; (2) Preparing a demolition plan which included materials management; (3) Preparing conceptual reuse plans demonstrating the property could support up to 300,000 square feet of industrial flex space; and (4) Marketing the property at a price consistent with clean property.
The RESIGHT Solution
While other potential buyers saw concern over an environmental issue, RESIGHT saw an opportunity to acquire the property at a significant discount to market, address known environmental issues and create a superior redevelopment opportunity in an excellent sub-market location. Once the challenges at the site were resolved, RESIGHT marketed the site for sale “as is where is” with Cushman and Wakefield. The property was sold to a local Denver, Colorado developer.
