Cumberland & Western to upgrade Loveland property
Landscaping will start "right away," Cumberland & Western Vice President Bill Murphree said Thursday. Work on roofs and parking lots will come afterward.
"All three of those areas will start fairly quickly," Murphree said.
Murphree made his comments to reporters during a visit by Cumberland & Western representatives to the campus. Cumberland & Western representatives have stayed busy meeting with potential tenants of the property throughout the week, he said.
Cumberland & Western bought the property from the city for $5 million in December. The company wants to redevelop the property, known as the Rocky Mountain Center for Innovation and Technology, with three or four anchor tenants, including their suppliers, and multiple mid-sized companies, Murphree said.
"All the buildings' systems and infrastructure (are) ... being checked, verified, validated, calibrated," he said. The company is doing "everything that needs to be done that's not tenant-specific."
"So much of the internal work is unique to a tenant," he said. "We want to wait and customize those or let them customize them to fit their needs."
Besides improvements to existing facilities, there's also room on the property for new construction, he said.
Murphree also said Cumberland & Western has seen a "significant amount of early tenant interest," though the company has chosen not to formally market the property yet.
Citing nondisclosure agreements, Murphree stopped short of naming the companies with which he has met. Some have expressed interest in moving to the campus, though no letters of intent have been drafted, he added.
But, Murphree said, "I think it's very feasible that we can have tenant relationships that we can communicate within 90 days."
In addition to tenants, he said Cumberland & Western representatives have met with officials from government agencies, including the National Renewable Energy Laboratory, to build relationships.
The visit by Cumberland & Western representatives follows the Colorado Association for Manufacturing and Technology's decision last month to withdraw its Aerospace and Clean Energy initiative from the Loveland site. The association said the company was moving in a direction that didn't fit the project.
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