Evergreen Devco, Inc. has purchased 6.9 acres of industrial property at 8705 Rosemary Street in Commerce City for $3.5 million. Evergreen has successfully rezoned the property to I-2 and plans to construct a 54,600-square-foot grade-level industrial building with a three-acre outdoor storage yard. Kirk Vanino and Matthew Nora with Lee & Associates will be leasing the building.
“With this development, we’re providing much needed inventory for small-and midsize-businesses that require a grade level facility with outdoor storage,” said Brian Dietz, vice president of industrial development at Evergreen Devco. “Smaller industrial buildings with outdoor storage have become increasingly hard to find for users in the Denver market.”
This is the second industrial land acquisition for Evergreen in Colorado. It will be Evergreen’s first groundbreaking for its new industrial business line. Evergreen purchased a 68.7-acre missed-use site at 17598 Green Valley Ranch Blvd. in August 2022 for retail, residential and industrial buildings. A groundbreaking on the industrial portion of that development is expected later this year.
Evergreen has earned a reputation as an industry leader in the state. Since entering the Colorado market in 2007, the company has become one of the largest active developers specializing in retail and multifamily. Evergreen Devco started its Industrial Development platform in 2021 with an initial focus on the Denver and Phoenix markets.
Brian Dietz, the leader of Evergreen’s industrial business line, states, “The company is leveraging its extensive industry relationships to identify prime opportunities throughout the Southwest region and is currently engaged in over 70 retail and apartment projects in Arizona, Colorado, California, and Utah while pursuing further expansion opportunities within this asset class. The company has several industrial developments in the Phoenix market as well.”
Founded in 1974, Evergreen has over 70 employees, with offices in Arizona, Colorado, California, and Utah. Evergreen is currently engaged in the development of more than 70 retail, industrial, and apartment projects and has completed more than 650 projects.