Denver Developer Signs Leases at Louisville Tech Park; Will Expand

By Molly Armbrister  –  Reporter, Denver Business Journal

Denver-based developer Comunale Properties has secured two leases on its first phase of the Summit at Colorado Technology Center industrial development and will begin work on the project’s second phase.

“When Comunale Properties announced this project, it was groundbreaking as it was the first Class A industrial/flex development to offer 24-foot-clear heights for users as small as 9,600 square feet in Boulder County,” said Jeremy Kroner, vice president at CBRE Group Inc., one of the listing brokers on the property.

Colorado Therapeutics LLC, a researcher and manufacturer of a soft-tissue repair technology used in hernia repair, has leased 33,600 square feet in the development, at 486 S. Pierce St. in Louisville.

Colorado Therapeutics was spun out of Colibri Heart Valve LLC and recently closed a $4.3 million funding round. Its new lease will triple its space and enable it to expand the commercial applications of its technology.

“When we received U.S. FDA clearance of our soft tissue technology for commercial use, we knew we needed a facility that could accommodate our specific manufacturing needs, provide room to grow and be representative of a world-class medical device company,” said Eric Schauble, vice president of corporate development for Colorado Therapeutics.

Solid Power, a developer of solid-state rechargeable batteries, leased another 19,200 square feet in Summit at Colorado Technology Center.

“We have highly specialized needs wherein our space must accommodate everything from materials production to battery assembly in addition to housing our applied research laboratory,” said Alex Gold, vice president of operations at Solid Power.

Solid Power was founded in 2012 using technology developed at CU. The batteries have applications in the electric vehicle industry.

Comunale is building out the remaining 9,600 square feet at the first phase of the Summit development and expects to break ground in June on phase two of the project.

Phase two will consist of 41,440 square feet of speculative industrial space. Construction is expected to complete in early 2018.

“Summit at CTC benefits from being one of the only developments to offer Class A small-bay space, something we noticed was sorely needed in this community, but it also benefits from being located in the middle of Colorado’s thriving tech and R&D corridor,” said John Comunale, president and managing partner of Comunale Properties.