Northstar Commercial Partners to Build New Warehouse Space in Broomfield


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During a time when prime warehouse space is scarce, Northstar Commercial Partners (NCP) — a privately-held commercial real estate investment company headquartered in Denver — has secured financing to develop an industrial lot in Bloomfield, into warehouse space.

New York City-based investment banking firm Eyzenberg & Company secured Red Starr Investments — a Harrison, N.Y.-based equity partner, for this approximately $37 million development deal.

“This investment provides the opportunity for Red Starr to work with an experienced sponsor that brings 25 years of market knowledge and development experience in the Denver market,” said David Eyzenberg, president of Eyzenberg & Company. “The end result is owning industrial space in an extremely supply-constrained area where demand for the product is high.”

NCP plans to demolish the existing 110,000-square-foot structure to build a new industrial park on the 20-acre environmentally remediated site. The finished project will consist two buildings totaling 315,720-square-foot of Class A warehouse space.

“Local leasing experts report a nearly 4-percent vacancy rate at the end of the third quarter, and many expect further absorption over the next 12 months,” said Eyzenberg.

Denver’s robust and diversified economy continues to lure new companies and a highly educated workforce. The Broomfield submarket in particular is experiencing steady growth and offers many retail amenities for both office and industrial tenants.

Rendering of proposed warehouse building at 800 Hoyt Street, courtesy of Northstar Commercial Partners.

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