The 15-year lease for DeVry, which is based in Oakbrook Terrace, IL, is valued at about $19 million.
The single-story building will include computers, computer laboratories and a technical library. The school, which offers bachelor's and master's degree programs in business technology and management, can support up to 3,000 students, says Timothy Campagna, president of DeVry University's Colorado campuses.
Despite the battered high-tech economy, ''We hear consistently from local employers that one of their greatest challenges is filling skilled positions,'' says Westminster city manager Brent McFall. ''Having DeVry here will be a great benefit both to Westminster and other regional businesses who are seeking a well-educated technology workforce.''
The campus is one of the largest recent deals along the north corridor. Brokers say that area is typically not competitive with the northwest corridor between Boulder and Denver.
''Companies typically either look at the north area near the 120th Avenue corridor or they look along US 36,'' Chris Nordling, a broker with the Frederick Ross Co. tells GlobeSt.com.
Todd Parker and Ted Harris with Grubb & Ellis represented PrimeWest and the landowner where the DeVry University will be built. Grubb & Ellis brokers Tim Harrington and Alan Polacsek represented DeVry. The Weitz Co. is the general contractor.
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