55 Acres of Industrial Land in Weld County Sells Off Market

Mark IV Capital, a private investment firm with a nearly 50-year history of commercial real estate investment and development, recently acquired 55 acres of industrial land within Elevation25 Business Park. Located at 4480 Elevation Drive in Mead, Colorado, Elevation25 can support 1 million square feet of Class A industrial product.

Phase 1 of the project – consisting of two industrial buildings – was recently completed by Silver Point Development in partnership with Walker Dunlop Investment Partners (WDIP) and financed by CIBC Bank. The remaining 55 acres of Elevation25 were purchased by Mark IV from Silver Point in an off-market transaction and will support up to seven buildings totaling 850,000 square feet. 

Mark IV plans to complete development on the land for a variety of uses, according to Jeff Dean, senior vice president of Mark IV, who heads the firm’s Colorado office. 

“Our firm has identified an exciting opportunity to expand our Colorado footprint while helping to meet the area’s growing demand for top-tier industrial and logistics space,” says Dean. “We currently own a distribution facility in Loveland and have been interested in investing in additional property in Mead and Weld County for quite some time. This transaction provided us with the ideal scenario to further engrain ourselves in the Colorado market and to deliver speculative and build-to-suit space, outdoor storage, and a five-acre park open to the public in an excellent location.”

Elevation25 is situated at the intersection of Interstate 25 and State Highway 66, adjacent to I-25 with 800 square feet of frontage along the major interstate. The business park sits between Denver and Fort Collins and with better proximity to Interstate 80, which allows truck drivers east/west access throughout the United States without the sometimes-hazardous drive through the Rocky Mountains, notes Dean.

“As Colorado’s second-fastest-growing county, Weld County is ideal for long-term investments like Elevation25,” says Dean. “In addition, this property aligns well with our company’s proven investment strategy of holding acquisitions for years and even decades.”

Silver Point and WDIP have developed and will retain ownership of Elevation25’s 94,076-square-foot Building 1 and 109,676-square-foot Building 2, which were completed in November 2023 and substantially leased.  Mark IV plans to break ground on the next phase – roughly 170,000 square feet of speculative product, in late Q4 2024. The available space will range from 20,000 to 200,000 square feet, with the tenant profile including distributors and logistics, technology, and energy sector companies.

Drew McManus, Ryan Searle, Bryan Fry and Shannon McBroom with Cushman & Wakefield represented both Mark IV and Silver Point in the off-market transaction. Mark IV has additionally selected McManus and his team to manage the leasing of Elevation25 going forward. 

“Mark IV’s reputation for development, ownership and commitment to the region and state were significant factors in our ability to complete this transaction off market,” says McManus.  “We’re excited to see Mark IV continue to build upon the momentum that Brad Cushard and Stuart Platt at Silver Point have created.”

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