The new Boyd Lake Commerce Center, an industrial manufacturing and distribution project totaling ±1 million square feet, has broken ground in Loveland. The new Northern Colorado project is launching with the speculative construction of a 100,117-square-foot freestanding building on 9 acres that can accommodate a single or multi-tenant user along with outdoor storage space and expanded trailer/auto parking.
Jason Ells, CCIM, Aaron Valdez, SIOR, Tyler Smith, CCIM and Alec Rhodes, SIOR of Cushman & Wakefield are handling the leasing efforts for the project.
“Boyd Lake Commerce Center looks to be Northern Colorado’s newest manufacturing & distribution park offering companies high-quality warehouse space and a large outdoor storage area great for parking additional trailers, automobiles or to store product,” said Senior Director Jason Ells. “We are excited to officially kick off construction at the project with the speculative delivery of this versatile and functional building that can accommodate a wide pool of industrial users and fulfill the ongoing tenant demand we’re seeing in the region, which maintains robust market fundamentals.”
Located along Boyd Lake Avenue, the new 100,117-square-foot building is divisible to 20,000 sf and features 28’ clear height, four drive-in doors, 24 dock-high doors, ESFR sprinkler system, 2,000 amps and 277/480 volt power, with 179 parking stalls, plus the outdoor storage area.
The property provides direct access to Highway 34, Crossroads and Highway 392 and Highway 287 and Interstate 25. It also provides regional access to Interstate 70 in Denver and Interstate 80 in Wyoming. The property is also located adjacent to the Northern Colorado Regional Airport.
According to Cushman & Wakefield’s Q2-2022 market report, Northern Colorado’s overall industrial market vacancy fell to a tight 3.2%, while for the 18th consecutive quarter industrial asking rates increased, rising from a once all-time high of $12.02 per square foot (psf) on a triple-net (NNN) basis in Q1-2022 to $12.23 in Q2-2022. Additionally, leasing activity in Q2-2022 was a staggering 525,000 sf, a 46% increase from Q1-2022, and the most active quarter for leasing activity in over a decade (since Q1-2012). Net absorption was also positive in Q2-2022 for the seventh consecutive quarter, with over 400,000 sf of growth at mid-year.