City and County of Broomfield

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DEAN FOODS MOVING TO BROOMFIELD
Dallas based Dean Foods is moving White Wave Inc., Horizon Organic and Dean Foods National Brands from Boulder to the Mountain View Corporate Center in Broomfield. The businesses will relocate 350 employees into the 130,000 square foot facility in late spring of 2005. Broomfield officials are currently working with Dean Foods’ representatives on the move and will negotiate an incentive offer to support the relocation. City and company representatives expect to complete the negotiation early in 2005. The companies are growing at a rate of more than 20 percent per year and Boulder doesn’t have suitable space and amenities to accommodate their expansion. White Wave has operated in Boulder for more than 27 years and Horizon Organics for more than a dozen years. Larger and newer buildings in the U.S. 36 corridor are expected to continue to lure Boulder’s growing companies seeking space, amenities and competitive lease rates.

MORE RETAIL AND HOUSING APPROVED AT COLO. 7 AND I-25
More action at I-25 and Colo. 7. A 275-acre parcel will be converted into Northlands, a development of big-box retail, Main Street style boutiques and clusters of townhomes costing about $221 million to construct. City officials will reimburse developers, Alberta Partners, up to $25 million of the $50 million to build utility infrastructure and roads to support the project. A lack of utilities in the area has halted other proposed developments. That deal is contingent on the developers moving ahead with the project in a timely manner. Forecasts suggest the development will yield an average of $11 million in sales taxes per year to the city over a period of 20 years. Neighboring the Larkridge development is the 1.2 million square foot Larkridge Regional Retail Center in Thornton that is already under construction. Market studies have shown the area is underserved for retail, suggesting the two centers can succeed despite their proximity to one another. 50,000 new housing units are planned within a five-mile radius of I-25 and Colo. 7 over the next 20 years.

FORMER MCDATA CORP. INTERLOCKEN BUILDING SOLD
310 Interlocken Parkway, a 122,000 square foot building previously occupied by McData Corp. recently sold for $4.9 million to Crestone Capital Advisors. Three years ago, the property, one of Interlocken’s original buildings, sold for $12.8 million.