Windsor Renewal Buys 320 Acres, 500 KSF of Industrial from Kodak
- Jan 05, 2012
January 5, 2012
By Barbra Murray, Contributing Editor
Windsor Renewal I, a division of The Broe Group, has taken a major step toward further developing the Great Western Industrial Park in Windsor, Colo., with the acquisition of 320 acres of land and 500,000 square feet of industrial buildings from Eastman Kodak Co. in a partial sale-leaseback transaction. Both parties are keeping mum on the purchase price.
The 1,800-acre Great Western Industrial Park, located at the Base of the Rocky Mountains, is designed around the Great Western Railway, the 80-mile regional rail system that Broe acquired in 1986. With the purchase of the property from Kodak, Broe will be able to add an additional two miles of rail to accommodate growing demand. The company will also ultimately make additional industrial space available for tenants eager to set up shop in the park, as Kodak will stay put in only a portion of the purchased buildings. Demolition of some of the remaining structures is on track to conclude this year.
The addition of the Kodak property marks yet another move in what has been a multi-year endeavor to increase the size of the Great Western Industrial Park. Kodak has played a large role in the expansion of the massive, master-planned manufacturing and distribution development, having sold more than a few acres of land to Broe since 2005.
By snapping up land bit by bit, Broe has created an industrial destination that serves as a magnet for manufacturing and energy businesses. Hexcel, Front Range Energy, Owens-Illinois, Reliant Holdings and Vestas are among the many companies that call the park home. Hexcel, a leading advanced composites company, opened its 100,000-square-foot facility in 2009.
In a prepared statement on the recent Kodak transaction, Clay Drake, a director of business development with Broe, noted, “This is an opportunity to redevelop and re-energize what was once a thriving campus in Windsor, by attracting new rail-served industry and creating jobs.”