Business Retention and Development Committee Minutes 2012 01 12 FINAL

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BRaD Meeting Summary January 11, 2011 Page 3of 4 Safeway going to PC Thursday night for Preliminary plan consideration. Mixed use. On December 15 John Benedetti and I met with ServPro from Gunbarrel. They are in20K in 55K bldg currentlywith30 employees. However, they are under contract to purchase a building on Taylor in CTC by end of January. Etkin Johnson –has delayed closing on the city’s land in CTC. We are Staff submitted thegrant request for a feasibility study for a food incubator, will be contributing a very small percentage as match from the ED budget in the hopes of raising our point count. Jeff Greenberg is considering a location in CTC. Global Imaging has signed a lease to remain where they are (in CTC) and add another 6,300 SF. Pearl Izumi is relocating warehouse in 20 months. Wants to own; considering building in CTC or Lafayette/Broomfield. Boulder Wind received BAP approval for up to $531,000 on 12/20. Currently in Boulder; considering the EJ building that used to be Collins Machine. Arapahoe Roofing has purchased a building on Arthur. Moving form Broomfield. Roosters, a high quality men’s grooming service is open next to Marco’s Pizza Retailer for Rite Aid/Checkers bldg is still waiting for their site selector’s software to be fixed. She then introduced a subject for February discussion, at the request of John Benedetti. He hasbeen reviewing a concept used by Broomfield to offer a small business resource center with basic business information/mentoringat scheduledtimes. He suggests we discuss whether this is somethingwe could do in concert with the Chamberorothers. Update from Matthew Debartolomeis , VP with CBRE, a commercial brokerage firm in the Denver Tech Center. Matthew is the local contact for the Sam’s Club building real estate listing. He presented information on the large amount of big box vacancies in the Metro Denver area, and talked about absorption, trends,and where the Louisville building sits in relation to other in the region. He noted that the demographics and slow residential growth in the sub-market resulted in only one of the 2 membership purchasing clubs to be successful. Unfortunately, that meant that CostCo remained open and the Sam’s Club closed. Matthew said it would cost about $1 million to divide the large structure for multiple users, and that is problematicgiventhe expectedrental rate a landlord could expect to get. In addition the use covenants prohibit many logical uses. He noted the building is in very good condition, but the shape of the building, in particular the depth from front to back, is not conducive to most retail uses.With no visibility to Hwy 36 and further sight restriction from McCaslin, the site is a “B” site.Another national trend he sees is that big box users are downsizing.