Colorado Real Estate Journal - November 19, 2014

Building complex targeted to marijuana growing operations

A Florida group is capitalizing on Colorado’s maturing marijuana industry with a new six-building complex targeted specifically to growers.

Global Consulting LLC recently purchased 5.52 acres of industrial ground at 12600 Smith Road with plans to build six identical grow facilities on a secured site. JC Properties LLC sold the land for $450,000 in a deal handled by listing brokers Steve Fletcher and Russell Gruber of Newmark Grubb Knight Frank and Paragon Commercial Group’s Sean Curley, who represented the buyer.

“Their intent is to put some grow facilities out there for the marijuana industry, and it’s going to be turnkey type of space,” said Curley. The buildings will be offered for lease or sale, and the owners will offer financing to creditworthy tenants, he said.

Colorado’s marijuana growers typically occupy older industrial buildings that have been modified to meet their specific requirements. Some greenhouse projects are being built, but the Smith Road property appears to be the first of its kind in that each warehouse-type building will have rooms specifically designed for various phases of cultivation, from flowering and cloning to drying and curing.

“I think it is very unique, at least right now, because it’s almost plug-and-play,” said Curley. The owner expects to have space available toward the end of first quarter 2015.

Each of the buildings will be 13,300 square feet and will have two overhead doors; oversized, 1,500-amp electrical service; interior loading bays; and an underground water storage tank. Buildings also will have 16-foot clear-span walls and be “ultra-energy efficient,” with R-30 insulation values on the ceilings and walls, Curley said.

Interior build-out will be to the occupant’s requirements.

Curley will be marketing the buildings for the owner.