Denver’s Black Creek Group Announces E-Commerce Leases
Denver-based real estate investment management firm Black Creek Group, a Denver-based real estate investment management firm with a more than 25-year history, this week announced the completion of 943,000 square feet of leasing with a leading global e-commerce provider.
“Black Creek continues to pursue industrial opportunities as we have experienced firsthand the uptick in demand for industrial space amid the ongoing pandemic as businesses increase their e-commerce fulfillment operations as consumers shift to ordering more goods online,” said Dave Fazekas, Black Creek Group’s senior managing director for the Eastern Region. “Additionally, more and more retailers are moving from a ‘just in time’ to a ‘just in case’ supply chain strategy to avoid future disruptions, which in turn increases the demand for industrial facilities located in close proximity to dense populations to meet delivery demands and rising inventory levels.”
The leases span six full buildings across three markets in the North East Region.
- 290,000-square-foot prelease at Lodi Distribution Center, a two-building development located in the Meadowlands submarket of New Jersey. The buildings are currently under construction with an expected completion of Q4 2020.
- 290,000-square-foot lease at Premier Business Park, a two-building industrial park located in the Prince William County submarket of Virginia.
- 207,000-square-foot lease at Philadelphia Logistics Center, a Class A distribution warehouse located in the Lower North Philadelphia submarket of Pennsylvania.
- 156,000-square-foot lease at Paddock Distribution Center, a development in the Carteret Avenel submarket in New Jersey, which the firm recently completed construction of in Q3 2020.