DENVER — Hyde Development and Mortenson are to build a a 1.8 million-square-foot, Class A industrial park to be called 76 Commerce Center, that when complete will be the largest industrial development in Brighton, CO.
The 122-acre site in Bromley Industrial Park is the largest speculative project to emerge in this growth corridor and is one of the most significant industrial land sales in the Denver area in the last decade. The development is a joint venture between Hyde Development and Mortenson, which has served Colorado as a leading builder and developer for over 35 years.
“We have been working with Paul Hyde and team over the past year to get this to the finish line, and we are pleased that we will be home to something this significant,” said Michael Martinez, president and CEO of the Brighton Economic Development Corporation. “This project proves that Brighton continues to be a great place to do businesses due to our quick access to Denver International Airport, Downtown Denver and the Denver metro area at-large. We thank Hyde Development and Mortenson for their commitment to our community and look forward to the success of the 76 Commerce Center in Brighton.”
Located in an enterprise zone, 76 Commerce Center also offers quick permitting with PUD zoning in place. Newmark Knight Frank’s Tim D’Angelo, SIOR, Mike Wafer, SIOR and Mike Wafer, Jr. are the exclusive listing brokers for 76 Commerce Center. The project will be designed by architect Ware Malcomb and built by Mortenson. Groundbreaking on a 266,240-square-foot speculative building is expected to kick off the development this year. Hyde Development and Mortenson closed on the land acquisition on August 28.
“I-76 is a clear alternative for industrial tenants looking to find space in the north metro area,” said Tim D’Angelo, senior managing director at NKF. The I-76 corridor and north metro area is going to continue to see a tremendous increase in development of industrial product due to scarcity of I-70 and Central Denver infill land sites and the choking traffic patterns close to the city.”
76 Commerce Center will offer tenant companies easy access to the entire Denver metropolitan area and the Rocky Mountain region to more efficiently serve the burgeoning front range population growth. The 76 Commerce Center will be a significant regional asset and will serve the I-76 corridor’s burgeoning industrial needs. Once complete, this project will be the largest industrial development in Brighton and will provide a significant impact to Brighton and the Denver metro region.
“We are committed to building a state of the art industrial park in Denver’s newest commerce corridor,” said Paul Hyde, partner at Hyde Development. “Optimal features of modern commerce centers include adaptive reuse and new development of modern warehouse and flex space, designed to attract distributers who desire a proximate location to their urban customers.”
Image courtesy of Newmark Knight Frank.