After packaging a lease deal with Amazon late last year, McWhinney says its Centerra Industrial development in Loveland continues to draw attention of e-commerce companies looking to serve Northern Colorado’s growing population.
“With a population of more than 600,000 and quickly growing to over 680,000 as it currently stands, Northern Colorado is one of the state’s strongest markets and is only expected to continue on this upward trajectory,” said Troy McWhinney, McWhinney chief investment officer and co-founder.
“Thanks to Centerra’s central location and immediate access to I-25 and Highway 34, e-commerce giants like Amazon are becoming increasingly attracted to establishing a presence here for their industrial, warehouse and distribution needs. Centerra Industrial is ideally positioned to meet growing business needs, especially those of fulfillment and distribution centers serving the Northern Colorado market,” he said.
Amazon leased a new 123,000-square-foot, state-of-the-art industrial building at 4541 Viking Way in Centerra for a delivery center. It is the third industrial building to be completed in Centerra’s industrial “district.” The first buildings are fully leased to Toddy LLC and Safelite AutoGlass.
McWhinney now is developing a 123,000-sf building, roughly half of which will house Norco Volleyball Club. The club bought a condominium interest in the building, which is scheduled for completion in summer.
An additional 123,000-sf building, one with a 25,000-sf prelease, will deliver in the fourth quarter. With a strategy to always have industrial space available, McWhinney will have a sixth building permit ready this month to break ground as leasing activity dictates.
Future development will bring Centerra’s industrial building inventory to more than 2 million sf.
“Centerra/Loveland is McWhinney’s birthplace, and we will continue to focus on supporting the market demand and exceeding customers’ expectations along the Front Range,” McWhinney said. “Our master-planned development expertise provides a distinct advantage with industry offerings that are adjacent to community amenities such as major transportation corridors, shopping, dining, residential offerings, outdoor trails systems and community engagement opportunities.”
While there is strong demand for industrial space in Northern Colorado, very little new product has been delivered to the market, especially in the larger sizes that McWhinney has been developing. “Given our extensive land holdings and historical land basis, we can typically provide greater pricing flexibility and shovel-ready sites, which allow us to deliver projects on time and within budget,” McWhinney commented.
In addition to Centerra, McWhinney has a variety of other options available to industrial users in Loveland, as well as at Baseline in Broomfield and Iron Horse in Johnstown. Iron Horse, which like Centerra has quick access to Highway 34 and I-25, will offer a range of light-industrial and warehouse opportunities with outdoor storage space beginning next year.