Prolilgo/Degussa Inks Deals

BOULDER, CO-Prolilgo/Degussa has leased 21,834 sf at 6165 Lookout Road from the W.W. Reynolds Co. and 27,128 sf at 6200 Lookout Rd. from Crestview LLC. Both buildings are in the Gunbarrel Business Park.

“They’re pretty significant leases for a biotech company,” Tom Grotewold, a broker with Bitzer Real Estate Partners of Denver, CORFAC International, tells GlobeSt.com. “A 10-year lease is a pretty big commitment for a biotech company.”

The company will invest between $250 per sf to $300 per sf to build a high-end laboratory in the already finished space, he says.

Prolilgo/Degussa, based in Boulder, is owned by a $13-billion German company, he says.

“The value of the improvements will be more than what the buildings are worth,” he tells GlobeSt.com. He estimates the value of the 10-year leases to be in the $7-million to $8-million range.

In addition to Grotewold, Jeni DeBrine represented W.W. Reynolds in-house and Steve Chrisman of Chrisman Commercial dealt for Crestview LLC.