The nation’s largest privately held health care supply company will build a 545,000-square-foot warehouse/distribution center at Majestic Commercenter in Aurora.
Medline Industries Inc. bought 35.6 acres of land in the master-planned business park at Interstate 70 and Tower Road and will spend the next 18 months developing the facility.
“This is a very exciting project not only due to its size, but also the quality of
Drew McManus
the product. The 545,000-square-foot distribution center will be one of the highest clear-height industrial buildings in Colorado at 37-foot clear and will include many state-of-the-art building design features,” said Cushman & Wakefield Senior Director Drew McManus of Cushman & Wakefield.
“We’re excited to welcome a company with more than a century of success and growth in the health care industry to our growing park,” commented Majestic Realty Co. Executive Vice President Randy Hertel.
“The addition of Medline to our Commercenter roster of tenants speaks to the strong level of interest and commitment companies across the country have in this market and, specifically, our ability to accommodate the unique needs of the large users in both our existing park and with our recent land acquisition,” Hertel said, referring to the addition last year of 530 acres to the previously 1,000-acre park.
The price Medline paid for the land wasn’t discussed, but public records indicate it was $7.69 million, or $4.97 per sf.
Medline, a Mundelein, Illinois-based company with an existing presence in Denver, manufactures and distributes more than 350,000 health care supplies and services to hospitals, nursing homes, surgery centers, physician offices and other health care providers. It is one of the largest privately held companies in America with more than $8 billion in sales last year.
“This marks another significant transaction for the Denver industrial market as it represents the growing trend of large users securing space in our market,” said McManus, who represented Medline in the land acquisition. “We have been actively working with Medline on this requirement for several years and we’re thrilled to start the construction process on a best-of-class site in Majestic Commercenter,” he said.
Featured in CREJ’s Jan. 20-Feb. 2, 2016, issue
