Fourth Industrial Building Breaks Ground at Centennial Encompass Business Park
Central Development recently celebrated the groundbreaking at Encompass 171, the fourth building at Encompass Business Park in Centennial. The 171,600-square-foot industrial warehouse building is being built by award-winning general contractor Alcorn Construction and marketed by industrial broker T.J. Smith at Colliers International.
Encompass has the most momentum of any park in the area. Established in 2017, the 62-acre mixed-use infill industrial park has been remarkably successful in attracting premier tenants. The first three buildings quickly exceeded expectations. Central and Colliers are currently talking with multiple tenants that would take up the majority of the new building.
“The park has had unbelievable success. The momentum is continuing, with high-quality tenants and zero vacancy,” says Central Management Principal and Co-Founder Jeremy Records. “It all has to do with last-mile distribution. Tenants immediately recognize Encompass as a truly fantastic and centrally situated last-mile location.”
Encompass Business Park has already attracted high-profile last-mile tenants such as Amazon, Room & Board, Brakes Plus, and Mygrant Glass. Encompass has also established itself as a technology park, with tenants such as Winn-Marion Companies, Rincon Research, and Evoqua Water Technologies calling Encompass home.
The park’s location just south of Arapahoe Road between I-25 and Parker Road provides close proximity to major roadways, amenities, and some of the Denver Metro’s most in-demand neighborhoods. Encompass 171 also offers tenants flexibility unmatched by any other area park. Since Central Development owns another lot in the park, they can accommodate users requiring additional yard storage and parking. In addition, flexible zoning allows for myriad uses, and 28’ clear concrete tilt wall construction, a speed bay, and a 190’-deep truck court make the building an easy fit for nearly any industrial tenant.
T.J. Smith says, “As we look at the macro trends in the industrial sector, there appears to be a potential tsunami of tenant demand coming as the logistic supply chain logjam frees up and our economy gets back on the rails. Nationally, we just experienced record quarterly absorption (110M SF Q1 2021) in our product type. We are starting to see larger requirements in Denver, and many of those tenants are looking in the southeast submarket for satellite locations. We are excited to continue the leasing success experienced as Central Development continues to build out Encompass Business Park.”