Colorado-Real-Estate-Journal_513462

INSIDE 12 6 FEATURED CONTENTS MARCH 4-17, 2026 Office 6 Industrial 10 Multifamily 12 Retail 18 Finance 25 Law & Accounting 32 CDE News 34 Who's News 48 10 Class A office Knightbridge, Westside partner to acquire 400 Inverness Warehouse buy San Diego-based owner-operator buys 875,000-sf industrial property Residential phase Livmark, Kensington break ground on first multifamily units at Link 56 18 Neighborhood retail Citivest, MDC purchase Leetsdale Marketplace for $13 million by Avalon Jacka AURORA – Production has begun at a new 600,000-square- foot light-manufacturing facility in the Sun Empire neighborhood as construction approaches completion. Philip Morris Internation- al Inc. is developing the Zyn nicotine pouch manufacturing facility, investing $600 million in the state-of-the-art facil- ity through its U.S. affiliates. Situated on 150 acres at 25000 E. 56th Ave., the project com- prises 448,237 sf of ground floor space and an additional 285,577 sf of elevated surfaces. Construction began in Decem- ber 2024 and is ongoing. “Construction of our Aurora manufacturing facility is pro- gressing strongly, on its way to completion – this includes the main buildings, installa- tion of manufacturing equip- ment and external infrastruc- ture, including road access,” a PMI spokesperson said. “We continue to ramp up hiring and onboarding as we plan for progressively increasing production this year.” The company is construct- ing the purpose-built facil- ity to help meet the growing demand from legal-age con- sumers for smoke-free prod- ucts. Manufacturing at the facility includes production, processing and packaging of Zyn products for distribution. Ware Malcomb and Politec- nica are providing design and engineering services for the project. The factory is one of the most sustainable facili- ties in the state, underscoring PMI’s commitment to reduc- ing emissions companywide. “This facility is specifically designed to minimize the impact to the surrounding community,” a PMI spokes- person said. “PMI’s U.S. affili- ates are committed to uphold- ing environmental sustain- ability standards and limiting its operational impact on the environment.” Haskell is serving as general contractor, and Meinhardt provides construction man- agement services. Construc- tion is expected to create a total of nearly 5,000 jobs related to the building of the facility, with nearly $1 billion in economic impact. PMI is in the hiring process PMI starts production at new Zyn facility by Avalon Jacka LONGMONT – A 336-unit luxury multifamily commu- nity sold for the first time since its completion in 2024. Scottsdale, Arizona-based The Wolff Co. acquired Notch66, situated on 18.4 acres at 2650 Erfert St., from Indianapolis-based Thomp- son Thrift. The Wolff Co. pur- chased the asset through its core-plus acquisition vehicle. The community sold for $103 million in February, accord- ing to Boulder County public records. “The successful sale of Notch66 reflects our commit- ment to delivering thoughtful- ly designed, high-quality com- munities in vibrant growth markets like Longmont,” said Thompson Thrift Residential Managing Partner Josh Pur- vis. “With its proximity to Boulder and Denver, a strong employment base, and excep- tional quality of life, Longmont continues to attract top-tier res- idents. We’re proud of the last- ing value Notch66 brings to the community and confident it will remain a desirable place to live for years to come.” CBRE’s Shane Ozment, Ter- rance Hunt, Chris Hart and Brad Schlafer represented Thompson Thrift in the trans- action. “We had an incredible num- ber of offers for Notch66,” Ozment said. “Its position as one of the fastest lease-up com- munities in Longmont, driven by its premium location and upscale finishes, clearly reso- nated in the marketplace.” Construction began on the community in February 2022 and was completed in June 2024. The community was developed with equity from Watermark 2021 Develop- ment Fund III LP. Notch 66 was 93% leased at the time of sale. The 334,944-square-foot community features a mix of one-, two- and three-bedroom The Wolff Co. acquires 335,000-sf Notch66 Please see Zyn, Page 10 Please see Notch66, Page 49 Philip Morris International Inc. is developing a Zyn nicotine pouch manufacturing facility at 25000 E. 56th Ave., investing $600 million in the state-of-the-art facility through its U.S. affiliates. Situated on 18.4 acres at 2650 Erfert St., Notch66 features a mix of one-, two- and three-bedroom units with upscale finishes.