Denver-based Developer Acquires Two In-fill Sites in Metro Denver
Corum Real Estate Group, a Denver-based developer and manager of industrial, multifamily and office assets, recently closed on the acquisition of two land sites in the Denver metro area and will construct a combined 400,000 square feet of speculative industrial warehouse space to be delivered in the fourth quarter of 2020.
Gateway Central 64 will be located at 2101 W. 64th Avenue in Adams County, just north of the I-76 and Pecos Street interchange. The development will consist of two buildings, one 157,100-square-foot and one 63,880-square-foot. Both will feature 28’ clear heights, ESFR sprinklers and dock-high and drive-in loading in a front-park rear-load configuration. Central 64 has immediate access to I-76 and I-25 and is less than eight minutes from Denver’s Central Business District, providing outstanding logistics metrics for service companies.
Elevate at Central Centennial will also consist of two buildings, located on two parcels at 7173 South Revere Parkway and 12358 East Easter Avenue in the City of Centennial. Building 1 is 132,300 square feet with 28’ clear and Building 2 is 56,000 square feet with 24’ clear heights. This high-profile project will have the ultimate flexibility to accommodate users as small as 15,000 square feet and offer cross-dock, front-park rear-load or front-park front-load options to potential tenants.
“We’re very fortunate to have identified not just one, but two in-fill sites within the metro area, both of which are in tight submarkets that continue to demonstrate strong tenant demand and investment activity” stated Eric Komppa, executive vice president of Corum.
Colliers International will be handling the leasing effort for both developments. Ware Malcomb provided design services, and DSP Builders is the general contractor for both projects. Josh Simon and Larry Theil at JLL arranged the financing.
Groundbreaking on both sites will occur within the next month with completion scheduled for Q4 2020.