Ace Hardware lease one of largest in airport submarket

Ace Hardware leased 128,982 square feet of space at Airport Distribution Center 3.

Ace Hardware Corp.’s lease at Airport Distribution Center 3 is one of the largest new leases in the airport submarket this year – one of a number of recent industrial lease transactions handled by CBRE.

Ace Hardware leased 128,982 square feet of space at Airport Distribution Center 3 at 15965 E.

32nd Ave. in Aurora. Bill Thompson, Jim Bolt and Mike Camp of CBRE handled the transaction.

The lease by Ace represents a new location for them in Denver. It was attracted to numerous features of the space, including the 30-foot warehouse clearance, ESFR sprinkler system, cross dock design and “suitable” existing office – all of which were key as Ace is taking occupancy ASAP, according to Thompson.

The property was approximately 20 years old.

Prologis was the landlord.

Prologis also was the landlord in Elite Sourcing & Logistics’ 44,165-sf lease at a speculative Class A project currently under construction by Prologis at 5303 Havana St. in Denver.

Currently in shell condition, Prologis will build out the office and warehouse improvements, and build a demising wall. In its expansion in the market, Elite Sourcing joins Balance Athletica, which leased approximately 33,000 sf at the building, where approximately 131,000 sf of space remains in one of the few Class A, front-park, rear-load buildings in the city and county of Denver.

Murray Platt of CBRE represented the tenant. Thompson, Bolt and Camp represented the landlord.

Next door, at 5503 Havana St., Bution Holdco/ORS made its debut in the Denver market with its lease of 65,8l0 sf from Prologis.

Newmark’s Tim D’Angelo represented Bution in its lease at the Class A building, where it occupies the corner unit. Thompson, Bolt and Camp also represented the landlord.

Additionally, Modular Interiors Inc. signed a 27,200-sf sublease at 4900 Osage St. in the Centerpark project in Denver.

Modular, which currently is located in the Centerpark project near Interstates 70 and 25, had outgrown its space there. It is expanding from 18,000 sf.

Thompson represented the tenant. Steve Serenyi of Colliers represented the sub-lessor, Charles D.

Jones & Co.

CBRE also handled Supply Network Inc.’s lease renewal at 12360 E. 46th Ave. in Denver.

Supply Network renewed its lease for 48,984 sf from landlord Invesco at the Peoria Business Center project at Peoria Street and I-70. Thompson and Bolt handled the transaction.

Featured in the November 18-December 1, 2020, issue of CREJ

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and industrial news in the Denver metro area plus all property types in Colorado Springs, Southern Colorado, mountain towns and the Western Slope. She also handles High Fives news for the paper and is editor of the Health Care & Senior…