Denver Commercial Real Estate | Conoco Phillips buys Storage Technology Campus

Houston based Conoco Phillips one the world’s largest producer of oil and gas products announced this week that they purchased the massive 432-acre Storage Technology campus in Louisville, Colorado. This is very exciting news for Louisville and the other surrounding Denver Metro area cities.

Governor Bill Ritter announced the purchase and said it could make Denver one of the world’s largest centers for renewable energy and create jobs and increase business all together throughout Louisville and Colorado. The site will be the home for a new global training center and a world technology site as well. According to experts this could draw thousands to this facility every year and they expect it to be completed by 2012.

This could really change how Denver is preserved in the global economy of renewable energy and allow other companies to bring their research and development companies to the Denver Metro commercial real estate market.

Conoco Phillips purchased the property last month from Sun Microsystems for $58.5 million. Sun previously acquired the property when it bought out StorageTek back in 2005. The property is currently vacant and will likely be redesigned for the Conoco Phillips particular needs and development. Conoco Phillips is currently the third largest oil and Gas Company behind Exxon Mobil and Chevron and explores for gas in oil in over 30 countries currently.

In Colorado the company is a primary supplier of gas and diesel and works closely with local Universities to better understand the potential of renewable energy sources available. This purchase could potential add thousands of jobs to the Colorado job market and increase our potential to attract other high level corporations to Colorado. Our economy and real estate market should grow considerably from this type of company relocation.

Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in
Denver Colorado. You can visit there website at www.discovercoloradorealestate.com

Denver Commercial Real Estate |Corporex Development
Corporex Colorado LLC will break ground on its new Class A office building in the second quarter, setting off a wave of activity that will include hotels and urban mixed-use development. The Corporex Family of Companies is a highly successful management-intensive, financial investment and services entity. Corporex has a long-standing tradition of extraordinary vision and industry leadership. Corporex has developed in more than 18 states and owns over $1 billion in assets. The Corporex Family of Companies employs 3,000 professionals. Corporex has offices in Cincinnati and Denver.

The very nature of the Corporex Family of Companies is to aim high, to set lofty goals, and to be optimistic. It is there that excellence is reached and relished, and exciting results raise the bar of achievement once again.
The Edge, a 180,000-square-foot office building at 180 Inverness in Englewood, will get started in June and big part of Corporex’s Colorado commercial real estate presence.
“We think that the timing of delivery of the building, which will be in mid-2009, will meet market demand at that point in time,” said Corporex Colorado President Kim Koehn. If Colorado’s economy takes a downturn late this year or in early 2009, the expectation is that it will rebound by the time The Edge opens its doors.

Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in
Denver Colorado. You can visit there website at www.discovercoloradorealestate.com