Colorado Real Estate Journal - July 19, 2017
The Nichols Partnership is geared up to complete an approximately $16 million Jaguar Land Rover dealership in Broomfield. The company recently closed on the acquisition of approximately 10 acres of land just off the Northwest Parkway at Via Varra Road for $8.56 million. The dealership will occupy approximately 4 acres, with the remaining land targeted to other retail uses. Jim Loftus of Loftus Developments is a partner in project. While the Nichols Partnership is known for its office, residential and mixed-use developments, the company also has owned the Land Rover Flatirons dealership in Superior since 1999. Jaguar Land Rover, a British car manufacturer and subsidiary of Indian conglomerate Tata Motors Ltd., has been working to bring the two brands under one roof, sharing service and sales components in a facility design released last year. “They have been trying to combine all of the dealerships in all of the markets where there’s a Jaguar and a Land Rover dealership,” said Randy Nichols, Nichols Partnership president and founder. His group is acquiring the Sill-TerHar Jaguar dealership in Broomfield, which will join the Land Rover dealership at the new location. The approximately 35,000-square-foot dealership will be called Jaguar Land Rover Flatirons. Commercial Building Services Inc. will start construction this month. The building is targeted for completion in May. The dealership will be on the north side of Via Varra. Plans for the adjacent 3 acres, as well as 3 acres on the south side of Via Varra, haven’t been finalized. “We’re talking to several retail users for build-to-suits, and in some cases the retailers would be interested in buying pads as well,” said Nichols, noting any number of possibilities exist. MI Development Corp. sold the property.