EverWest Signs Full-Building Lease at New 25 North Spec Denver Industrial Project
Underscoring the strength of the Colorado industrial market, EverWest Real Estate Investors has preleased a 121,000-square-foot speculative industrial building currently under construction at its 25 North industrial park in Thornton.
Founded in 1936, Colorado-based Sashco manufacturers caulks, sealants and stains. It will relocate and expand into the new building, which is located at 14802 Grant St., in October 2021, upon completion of tenant improvements. The building is part of the larger, multi-building 25 North industrial park, for which EverWest serves as the project developer and co-owner alongside Invesco Real Estate, a global real estate investment manager.
“We are thrilled that Sashco chose to locate their operations in Thornton,” said Thornton Mayor Jan Kulmann. “Sashco has been a Colorado company for 85 years, providing quality jobs and great products. This project continues to show that Thornton is a great location for manufacturing operations and all businesses looking for the right atmosphere to grow their company. We look forward to working with Sashco during this exciting time of growth for the company.”
“Thornton’s 25 North submarket is seeing strong demand from a variety of industrial tenants,” said EverWest Director of Asset Management Chris Winn. “This building and industrial park offer state-of-the-art, Class A space with superior access to labor and regional distribution capabilities.”
EverWest purchased the 25 North campus in mid-2020 in a joint venture with Invesco Real Estate. At the time of purchase the property included two newly completed, Class A industrial buildings totaling 219,200 square feet, with a pad-ready site available for immediate development.
EverWest broke ground on the 14802 building in August 2020 and delivered the TI-ready core and shell in March 2021. In addition to its three existing buildings, 25 North has 46.4 acres of developable land able to accommodate 595,000 square feet of new Class A industrial development as market demands. Site design and engineering plans for the second phase are currently pending municipal approval.