Becknell Industrial to Develop Industrial Distribution Facility in Commerce City
According to Cushman & Wakefield, Becknell Industrial has purchased two land sites totaling 170 acres, along with a subsequent lease for a brand new 1-million-square-foot build-to-suit distribution location for a yet to be named national home improvement retailer, in Commerce City. Becknell purchased the land for a combined $22.4 million, according to Adams County property records, and will be developing the facility for the retailer.
The property(s) is located within Nexus at DIA and Nexus North, a master-planned business park located at Tower Rd and East 84th Ave in the eastern Denver suburb. Schuck Communities, a privately held regional real estate company based in Colorado, is the owner of Nexus at DIA and has sold over 400 acres over the past three years in the Nexus at DIA and Nexus North park areas.
Brock Chapman, CEO of Schuck Communities, stated, “The success of the two Nexus project phases has been remarkable. It’s an excellent example of the positive outcome that can be achieved when a quality developer and a progress-oriented municipality, like Commerce City, work closely together to achieve clear objectives. Creating economic growth and new quality jobs was/is the common goal, and cooperation between Commerce City and Schuck Communities has provided just that. While Nexus is serving the interests of high quality, job generating employers in the business park, it is also serving the long-term economic interests of all stakeholders in the region.”
Steve Schuck, chairman of Schuck Communities, said, “Once Commerce City voted to complete those forward-looking regional public improvements, Schuck Communities and our partner, Chris Thompson, were able to confidently make investments in Nexus and justify the acquisition of additional land necessary to attract yet more major companies pursuing the expansion of their warehouse and distribution facilities, including: McLane Foods, GE/Haier Appliances, and other Fortune 50 global companies whose names cannot be disclosed yet. Lincoln Properties has also completed three buildings totaling 600,000 square feet of multi-tenant space currently being leased with significant early interest by users.” “After 50-years in business, Nexus has proven to be one of our most successful projects, and one of which everyone can be proud,” Schuck said.
The location at Nexus at DIA provides easy access to I-70, I-225, E-470 and the Denver International Airport in addition to proximity to an abundant workforce, retail amenities and public transportation. The project is also located among several other major corporate tenants.
The team of Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield Denver handled all three correlating transactions consisting of: the sale of 158 Acres to Becknell Industrial, with Cushman & Wakefield representing the seller, DIA Tech Center, LLC; the sale of 12 Acres to Becknell Industrial, with Cushman & Wakefield representing the seller, Schuck DIA, LLC; and the lease of 1 million square feet to the national home improvement retailer, with CBRE’s Jim Bolt and Mike Camp in collaboration with Drew McManus of Cushman & Wakefield representing the landlord, Becknell Industrial.