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COLORADO REAL ESTATE JOURNAL
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June 1-June 14, 2016
About Northglenn
Nestled in the heart of
Denver’s north metro area lies
Northglenn.
The city prides itself on
creating a community where
its 38,000 residents enjoy
a wonderful quality of life,
businesses thrive and people
want to visit.
Connection to theMetro Area
Northglenn companies
have easy access to customers,
employees and suppliers.
Located 9 miles north of
downtown Denver, the city is
bisected at I-25, with two major
interchanges at 104th and 120th
avenues. Northglenn sits right
in the middle of E-470 to the
north, and I-270 and I-70 to
the south. Boulder and Denver
International Airport are only
half an hour away.
Transportation, economic
development and new real estate
development opportunities will
evolve in 2018 with the opening
of RTD’s FasTracks N-Line. Two
stations – one at 112th Avenue
and the other 124th Avenue – sit
inside or right at the edge of
Northglenn’s borders. Once the
stations open, passengers can
travel unhampered to downtown
in less than 30 minutes, with
access to DIA and the rest of the
FasTracks system.
Pro-Entrepreneurial Environment
Attracting Businesses
Over 900 companies call
Northglenn home. With the
city’s pro-business environment,
availability of smaller spaces and
lower rental rates, Northglenn
has become a Mecca for small
businesses and entrepreneurs.
Northglenn focuses on infill
and redevelopment. The city has
diversified prime retail, office,
industrial, land, and mixed-use
real estate opportunities that
fulfill many business needs. The
average rental rates at the end
of 2015 were:
• Office – $17.44 per sf full
service – 7.2% Vacancy Rate
• Industrial – $7.03 per sf nnn
- 0.2% Vacancy Rate
• Retail – $12.88 per sf nnn –
9.3% Vacancy Rate
In 2015, 56 new storefront
businesses opened in
Northglenn, representing
216,280 square feet of office,
industrial and retail space
absorption.
All of Northglenn’s
commercial properties are
located within the state’s
Enterprise Zone, and
about 85 percent lie in the
city’s urban renewal areas.
These designations provide
opportunities for state income
tax credits along with business
assistance and incentive
programs that help turn
business concepts into business
profits.
Northglenn companies
benefit from highly personalized
service and an expedited and
streamlined development and
permitting process. Recently,
three major economic
development projects opened
less than 12 months after
breaking ground.
Economic Development
Momentum
Construction wrapped up in
2015 on the final two buildings
of the Webster Lake Promenade
restaurant and retail center.
Parry’s Pizzeria & Bar, First
Watch Restaurant, Land Home
Financial Services and Jim ’N
Nicks BBQ realized the benefits
of the location just off I-25 at
120th Avenue and Grant Street.
ILoveKickboxing.com will soon
occupy the remaining space.
This unique mix of tenants
has created an award-winning
destination spot for dining,
shopping and more.
Just across the street from the
Promenade, Northglenn’s first
hospital is on track to open in
late 2016. SCL Health’s three-
story, 60,000-sf community
hospital and medical office
facility will bring hundreds of
well-paying jobs to the city.
Texas Roadhouse constructed
a 7,900-sf restaurant at the
Northglenn Marketplace, just
off 104th Avenue and Interstate
25. This facility also serves
as a national staff training
center. About 400,000 patrons
are expected to dine at the
restaurant annually.
Independent Electrical
Contractors Rocky Mountain
(IECRM) purchased a 26,000-sf
building at 114th Avenue and
Pearl Street. Investments of
$2.6 million for construction
and equipment will transform
the building into a state-of-
the-art educational facility.
IECRM plans to train over 1,100
apprentices annually.
Additionally, Community
Reach Center has broken
ground on a new 15,000-sf,
16-bed expansion, and Ashley
Manor’s 12,000-sf elderly care
center is under construction.
Opportunities for the Future
Northglenn’s leadership is
proactive in positioning the
city as a leader for real estate
development opportunities,
attracting companies and
helping its existing businesses
grow and thrive.
The EPA awarded
Northglenn two national
Brownfield Community
Wide Assessment grants
last year totaling $400,000.
Environmental site assessments
over the next three years will
prepare various commercial
sites for redevelopment.
These infill and
redevelopment projects are just
a portion of what is planned
for Northglenn’s near future.
While we can’t announce them
quite yet, we encourage you
to keep an eye on Northglenn
to see what new development
projects are coming.
Debbie Tuttle
Northglenn Economic Development
Manager & NURA Executive
Director, Northglenn
City of Northglenn
SCL Health Community Hospital in Northglenn
Texas Roadhouse
Webster Lake Promenade
