|Trammell Crow Company (TCC) and JV partner Clarion Partners announced that Core & Main, a leader in advancing reliable infrastructure with local service nationwide, has signed a lease at 104th Commerce Park, located at 11011 E. 104th Avenue in Commerce City. Core & Main will occupy 56,556 square feet in Building 1 within the first phase of the industrial development, completed in Q1 2023. The company is relocating its Denver operations to the facility this month.
“104th Commerce Park provides an excellent opportunity for tenants like Core & Main looking to grow their footprint in the Denver market. The development offers optimal signage along I-76, along with convenient access to the Denver CBD, surrounding interstates, and the Denver International Airport,” said Erik Hagevik, principal with TCC and head of the firm’s Denver office.
Megan Kranichfeld, senior vice president with TCC, added “The Park offers flexibility for a range of tenant sizes, up to 298,300 square feet, with outdoor yard and trailer parking available on site, a unique attribute of the project that allows us to accommodate the needs of a variety of potential users. We are thrilled to welcome Core & Main as the latest addition to a great project.”
104th Commerce Park will total 1.17-million-square-feet upon completion. TCC delivered the first phase of construction in Q1 2023, which included two move-in ready industrial facilities spanning 272,900 square feet and 298,300 square feet, respectively. Features include 32’ to 36’ clear heights, multiple truck docks, and convenient on-site parking for vehicles, trailers, and outside storage.
“Building 1 offered move-in ready space that fit well with Core & Main’s specific needs. They will be able to begin operations much more quickly versus starting from ground up or just a shell space while enjoying the benefits of new construction, strong surrounding demographics and a location that is only minutes from the intersection of I-70 and I-25,” said Daniel Close, Senior Vice President with CBRE.
The full project plan calls for five Class A buildings situated on the 89.6-acre site. The second phase of development at the park is expected to include three industrial facilities spanning 262,600 square feet, 193,400 square feet and 132,400 square feet, respectively, as well as build-to-suit opportunities and yard area available for lease. The park’s zoning allows for a wide range of industrial and e-commerce uses, including outside yard capability and substantial trailer storage.
Murray & Stafford is the general contractor for the Park, and Ware Malcomb is the architect responsible for the design. The CBRE industrial team of Tyler Carner, Jeremy Ballenger, Daniel Close and Jessica Ostermick represented TCC and Clarion in lease negotiations. Mike Camp, also of CBRE represented Core & Main.
Core & Main is the second tenant to sign a lease at 104th Commerce Park. Earlier this year, TCC and Clarion executed a lease agreement for 126,280 square feet, leased by a manufacturer and wholesaler of building materials.
According to Realtor.com, rents fell in January for the sixth month in a row, with year-over-year prices down -0.3%, according