Border States Electric signs 82,000-square-foot lease
Colorado Logistics Park is nearly a quarter preleased before its delivery in the coming weeks.
Border States Electric, an electrical supplier to construction, industrial and utility customers, leased 82,000 square feet of space at the park in Denver’s northeast industrial submarket – bringing the initial phase to the development along the Interstate 76 corridor at East 112th Avenue and Highway 85 to 21% preleased.
Stream Realty Partners’ Tyler Reed, Peter Beugg and Dominic DiOrio represented landlords Brennan Investment Group and New York Life Real Estate Investors. Jim Bolt of CBRE represented the tenant, who is relocating from the east/Interstate 70 corridor.
“Tenants are showing increasing interest in the I-76 corridor as a distribution hub to the Rocky Mountain region,” said DiOrio. “Colorado Logistics Park provides tenants with a competitive opportunity to locate in this rising submarket, while increasing the stability and predictability of their end-user delivery and adding efficiencies and savings to their overall logistics.”
The first phase comprises three warehouses totaling approximately 558,000 sf. Border States leased space in Building D, a 330,250-sf facility. An additional 396,311 sf of space is planned for Phase 2 of the project. In total, the park is expected to comprise five buildings – two bulk distribution and three rear-load warehouses – and nearly 955,000 sf of space on 60 acres.
The property features available outside storage, “ample” power, ESFR sprinklers, a location in two enterprise zones (Limon Foreign Trade Zone 293 and Adams County Enterprise Zone), 50×50 column space, dock-high loading and 28- to 36-foot clear heights.
“Our strategy with Colorado Logistics Park is truly reflected in its name in that we are playing off the logistics structure for the Denver metro area,” Brian Roach, managing principal at Brennan Investment Group, said in a release. “Denver is primarily a consumer market with more inbound traffic than outbound traffic. This location is strategically located close to both the intermodal traffic to the north from Interstate 80 while also being close to the city center and highways providing reduced drive times to all parts of the metro area. As important to transportation, the northeast quadrant of the metro area is truly the last place for affordable workforce labor, providing potential users a nearby pool for staffing its warehouses.” Brinkmann Constructors is the design-build general contractor for the project.
Featured in the October 21-November 3, 2020, issue of CREJ