Two new tenants are joining Pecos Logistics Park, a 1.15-million-square-foot Class A industrial development located in central Denver at the northwest corner of W 56th Avenue and Pecos Street. The two new leases bring the project to 54 percent leased.
Vartega, a recycler of lightweight carbon fiber, leased 50,137 sq. ft. in Building 2, and Alliant Power, the nation’s largest distributor of aftermarket diesel engine fuel systems and components, leased 34,737 sq. ft. in Building 4.
Tyler Carner and Jeremy Ballenger of CBRE represented the property owner, institutional investors advised by J.P. Morgan Global Alternatives. Alliant Power was represented by Doug Viseur and Nic Carter, also of CBRE. Vartega was represented by Dawn McCombs and Kevin Hann of Avison Young.
Construction on the 66-acre park was completed in August 2022 and includes six speculative buildings and a build-to-suit occupied by PepsiCo Beverages North America.
“The continued strong lease up of Pecos Logistics Park is a result of its infill location at the intersection of three of Denver’s major interstates and the quality of construction and amenities available to tenants,” said Mr. Carner, executive vice president, CBRE.
Pecos Logistics Park is located steps away from the Pecos Junction light rail stop. The infill location is 0.5 miles south of I-76, one mile north of I-70 and less than two miles from I-25, putting 2 million people within 15 miles of the park.
Park amenities include 28-32-ft. clear heights, trailer parking, ESFR sprinklers, and at least 3000 amps of power per building. Unique for industrial, the park also has shared amenity space with conference/training rooms, a kitchen, showers, bike storage and outdoor patio space available for tenant use.
Persistent demand for industrial space in Metro Denver netted 2.0 million sq. ft. in leasing activity in the fourth quarter of 2022, according to CBRE research. This raised the annual volume to over 11.2 million sq. ft., surpassing the five-year average of 10.7 million sq. ft.
