Shovels struck dirt yesterday at HighPoint Elevated, the 400-acre industrial and logistics park being developed by Hyde Development and Mortenson, located at the interchange of E-470 and East 64th Avenue near DIA. Building 1, a 541,840-square-foot speculative building broke ground and is slated to deliver in the second quarter of 2022.
“The master plan for HighPoint Elevated features a compelling combination of size, opportunities for a variety of uses and a location that make it ideal for companies building out warehouse and distribution space,” said Paul Hyde, with Hyde Development. “At full build-out, this park will include up to 15 buildings totaling more than 5 million square feet of Class A distribution space. We’re confident this first building will quickly fill a need in the market.”
Building 1, located at East 64th Avenue and Denali Street, will have a 36-foot clear height, 50-by-54-foot column spacing, an ESFR sprinkler system, 92 dock-high and four drive-in doors, 68 trailer parking spaces and 273 car parks.
“In addition to serving as a development partner, Mortenson is the design-builder for the park,” said Gene Hodge, vice president and general manager, Mortenson. “Our integrated position on this project allows us to deliver a quality product to the market with greater efficiency–a significant advantage as demand for industrial space here in Colorado continues to soar. We look forward to completing Building 1 in the summer of 2022.”
Todd Witty, Jeremy Ballenger, Daniel Close and Tyler Carner of CBRE are marketing HighPoint Elevated for lease and sale opportunities with speculative construction and build-to-suit options available.
“HighPoint Elevated is uniquely positioned to meet the increased demand from large tenants trying to build out their supply chain to serve the Rocky Mountain Region. Building 1 will deliver at a time when large new state-of-the-art distribution centers are in short supply. Additionally, HighPoint has fully entitled industrially zoned land that can address the specific needs of tenants. Tenants can design their own building from 200,000 to 1 million square feet and have it built in a short timeframe,” said Todd Witty, senior vice president, CBRE.
Additional buildings will range from 64,000 square feet to 1 million square feet with at least one building slated for cold storage. Outdoor storage is also available at several sites throughout the park.
Retail development is planned for the middle of the park, along East 64th Avenue, providing walkable options for tenants and visitors. The design will also incorporate outdoor seating areas for employees and guests.
Infrastructure improvements are underway to widen East 64th Avenue to four lanes at the park (six lanes west of E-470) and to add a full interchange at East 64th and E-470, giving tenants the option to bypass I-70 to reach the metro’s northern and southern suburbs.
The park is situated within three economic benefit zones: a Federal opportunity zone, an Adams County Enterprise Zone and a Limon Foreign Trade Zone.
Metro Denver’s industrial sector continued to demonstrate strength in the first quarter of 2021. The market recorded its 44th consecutive quarter of positive net absorption with 923,500 square feet of positive net absorption in the Airport submarket alone, according to CBRE research.
Photo courtesy of CBRE
