ScanlanKemperBard (SKB) has announced its plans to invest more money into a recently acquired manufacturing facility than the initial purchase price. According to Commercial Edge, SKB purchased the 436,534-square-foot building located at 2555 W. Midway for $17 million, but intends to spend $27 million on a comprehensive renovation. The property was previously owned by Mile High Labs and is situated halfway between Denver and Boulder.
The company’s renovation plans include demolishing and renovating two vacant buildings on the site while also leaving room for potential expansion of an additional 100,000 square feet if needed. The facility boasts clear heights ranging from 18 feet to 38 feet and already includes labs, clean rooms, and ample power supply. Additionally, there are currently 609 parking spaces available with plenty of outdoor storage space for prospective tenants.
Originally built in1974,the industrial property was most recently purchased by Mile High Labs in June of2019for$18.8millionfrom Novartis.After experiencing declining sales,Novartis no longer utilizedthe site,making it availablefor saletoMileHighLabs.
