Growing Denver beverage distributor leases 155,775 sf

18245 E. 40th Ave.
New Age Beverages leased the building at 18245 E. 40th Ave. in Aurora.

A Colorado- and Utah-based beverage distributor leased a 155,775-square-foot building in Aurora in one of the largest industrial lease transactions so far this year.

New Age Beverages Corp., a publicly traded company that distributes natural and organic drinks including kombucha, coconut water and other products, leased the building at 18245 E. 40th Ave. in Gateway Park. The building had been on the market for many months.

“New Age Beverages just had such significant growth that they couldn’t operate efficiently out of their building and needed a larger facility to accommodate their growth,” said Mike Wafer, Newmark Knight Frank executive managing director. The company is moving immediately and offering its existing 83,000-sf space for sublease, said Wafer, who represented New Age Beverages with Tim D’Angelo and Michael Wafer Jr., also of Newmark Knight Frank.

Greg Knott, Scott Shwayder, Marc Lippitt and Pete Foster of Unique Properties Inc.-TCN Worldwide represented the landlord, 40th Street Partners LLC.

Built in 2005, the building has a large truck court, a significant amount of parking, ESFR fire sprinklers and upgraded office finish but only 24-foot ceilings. “A lot of users in that size range are typically more warehousing/ distribution users and look for higher clear-height buildings,” said Wafer. The ceiling height works for New Age Beverage because it floor-stacks its product and turns inventory over quickly, he said.

New Age Beverages just announced a distribution expansion of its Marley brand, including organic mate and cold brew coffee, with Walmart, the country’s largest retailer.

Featured in CREJ’s May 1-14, 2019, issue

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of…