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United Properties lands mattress company for 289,113 sf

Sealy Mattress Manufacturing Co. leased Tower Business Center Building 1.

United Properties landed one of the biggest names in mattresses for a newly completed, 289,113-square-foot speculative industrial building at Interstate 70 and Tower Road in Aurora.

Sealy Mattress Manufacturing Co. signed a long-term lease for Tower Business Center 1 at 18701 E. 38th Ave. Tenant improvements are underway, and Sealy is expected to take occupancy at the end of the year.

“We’re really excited to have them as a tenant,” said United Properties’ Megan Turner, development manager. “The buildings they’re in right now are older product, so part of this move for them is that it’s going to create a lot of efficiencies in their production with the layout and the size,” she said.

Sealy Mattress occupies two buildings in Denver and will be consolidating, and expanding, into the new building.

“I think our building fit the tenant like a glove. It was the perfect size, the perfect dimension for them,” said Kevin Kelley, United Properties executive vice president and regional director in Colorado.

“They had a really quick timeline that they needed to be in a building and producing mattresses, so the fact that we had a building that could be completed in the time frame that they needed was really important to them as well,” Turner commented.

Tower Business Center 1 is the largest of two 32-foot-clear, state-of-the-art spec industrial buildings at Tower Business Center, which United Properties is developing in partnership with Artis REIT. A 133,848-sf front-park, rear-load building will be completed this month.

“This lease validates the high quality product of this project, as well as the excellent location with immediate access to I-70 and close proximity to retail amenities,” said Mike Wafer, Newmark Night Frank executive managing director. Wafer represented United Properties with Bruce Mawhinney and Tim D’Angelo, also of Newmark Knight Frank.

Mitchell Zatz and Carmon Hicks of JLL represented Sealy in the transaction.

Featured in CREJ’s Aug. 21-Sept. 3, 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…