Central Development Starts New Build-To-Suit At Highfield

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Central Development Starts New Build-To-Suit At Highfield

A second build-to-suit is in the works at High field Business Park in Douglas County.

Central Development has broken ground on a 63,981-square-foot tilt-up building for Applied Control Equipment, which
delivers automation solutions to clients in Colorado, Wyoming, Montana, and parts of Nebraska and South Dakota. The
local business partner in the Rocky Mountain Region for Emerson Process Management, the company services
industries including oil and gas, life sciences, mining, chemicals, food and beverage, and others. It currently occupies
about 35,000 sf of leased space in Centennial that it has outgrown.

The new facility, which Applied Control Equipment will own, initially will house the company’s 100 employees. Applied
Control expects to grow to around 150 employees within five years, and with the ability to expand to 125,000 sf at
Highfield, the building will accommodate its growth for the long term.

“It will provide us the opportunity for growth for the next 10 to 20 years,” said Chief Financial Officer Margie Versen.
The nearly $10 million facility, scheduled for November occupancy, is being designed by Venture Architecture. Alcorn
Construction is the contractor.

The 24-foot-clear building will consist of 31,497 sf of office space, with warehouse and light-assembly space making up
the balance. It will be located on 7.34 acres at Highfield Business Park, a 100-acre park at E-470 and Peoria Street,
south of Centennial Airport. The park sits at the highest elevation south of the airport in unincorporated Douglas County,
which was a draw for Applied Control Equipment.

The company’s existing space offers mountain views. “The fact that this piece of property is the highest in Highfield
Business Park was important to us to try to keep the views for our employees,” said Versen.

The build-to-suit is the second one that Central Development and Alcorn Construction have completed at Highfield. It
follows a 120,000-sf facility for Gordon Holdings/Polystrand, and Central Development principal Jeremy Records said
additional users are expressing interest in the park.

“We continue to see strong demand from all types of companies: light manufacturing, research-and-development. The
large blocks of space are dwindling, so users that have leases expiring or want to own and take advantage of low interest
rates are out there and looking in the market,” he said.