Confluent Development Closes on Two Class A Industrial Properties
Confluent Development, a Denver-based real estate investment and development firm, recently acquired two Class A industrial properties, representing the continued expansion of its industrial portfolio across the Front Range.
25 Commerce Park is a 456,400-square-foot Class A industrial park, featuring three buildings slated for delivery in Q3 2023. Ken Caryl Commerce Center will deliver 175,000 square feet of Class A industrial space between two buildings featuring unmatched visibility along the southwest 470 corridor, slated for delivery in Q4 2023.
“25 Commerce Park and Ken Caryl Commerce Center exemplify the types of projects our firm is focused on acquiring throughout Colorado’s Front Range,” said Cadie Crean, development director at Confluent Development. “We’re planting a flag in each corner of the market through the development of Class A industrial product, focused on high visibility and high barrier to entry locations, providing users with premium product they can call home.”
25 Commerce Park is located in the heart of Denver’s fastest-growing submarket of Thornton. Future tenants will benefit from various nearby amenities, access to a robust and fast-growing labor market, and proximity to downtown Denver, Denver International Airport and Boulder.
The business park will deliver three buildings. Building 1 will offer 131,250 square feet of space, feature 28-foot clear heights, 220 parking spaces, 31 dock high doors and four drive-in doors. Building 2 will consist of 146,300 square feet, 28-foot clear heights, 224 parking spaces, 33 dock high doors and four drive-in doors. Building 3 will deliver 176,000 square feet of space, 32-foot clear heights, 231 parking spaces, 41 dock high doors and four drive-in doors. Trailer parking will also be available on this property.
Brokers Todd Witty and Daniel Close of CBRE manage lease transactions for 25 Commerce Park.
“These new industrial buildings in Thornton are well-positioned to serve a range of diverse tenants in the north Denver submarket seeking opportunities to utilize Thornton’s strong labor pool and easy access to the front range via I-25 and E-470,” said Todd Witty, senior vice president at CBRE.
Located at C-470 and South Kipling Parkway in Littleton, Ken Caryl Commerce Center is planned to accommodate users ranging from 20,000 square feet to 175,000 square feet seeking Class A industrial product featuring ESFR sprinklers and 28-foot clear heights. Future users will have access to 250 parking spots, immediate highway access with visibility to 82,000 vehicles per day and convenient proximity to Littleton.
Tyler Carner, Jeremy Ballenger and Jessica Ostermick of CBRE represent leasing for Ken Caryl Commerce Center.
“Confluent’s industrial development right outside of Littleton will give future users the latitude to expand in the untapped southwest corner of the Denver metro area, which is anticipated to service a rapidly growing, affluent population,” said Tyler Carner, executive vice president at CBRE.
Demand for industrial space in metro Denver is at historic levels, according to CBRE research. Despite nearly 10 million square feet of new industrial space delivered in Denver last year—a record high—vacancy rates continue to compress. The metro’s industrial vacancy rate was just 5.5% as of the first quarter, the lowest it has been since 2017.