A 594,400-square-foot three-building speculative industrial development has broken ground within the master-planned business park Nexus at DIA. Lincoln Property Company (LPC) in partnership with a private real estate fund advised by Crow Holdings Capital are building the new Class A warehouse and distribution center, named Ascent Commerce Center.
Located on a 33.2-acre site at Tower Road and East 84th Avenue, Building 3 is expected to be delivered in Q4 2020 and Building 1 & Building 2 are expected to be delivered in Q1 2021. Building 1 will be 154,560 square feet (divisible to 21,840 SF) with front park rear load design and 32-foot clear height. Building 2 will be 312,480 square feet (divisible to 56,000 SF) with cross dock design and 36-foot clear height. Building 3 will be 127,360 square feet (divisible to 16,640 SF) with front park rear load design and 32-foot clear height. All three buildings will be east and west facing and feature dock high and drive-in loading, ESFR sprinkler, and trailer storage/parking.
Alliance Architecture is the architect on the development and Brinkmann Constructors is the general contractor. Lincoln Property Company’s Scott Caldwell and Mark Dwyer will be co-listing the property for lease with Cushman & Wakefield’s Drew McManus and Bryan Fry.
“Denver’s warehouse market has shown tremendous growth during the past 36-48 months, vacancy is near record lows and rents are exceeding previous high marks,” said Mark Dwyer, vice president with LPC. “Ascent Commerce Center provides tenants considerable size flexibility with space divisible from 16,000 square feet to 312,000 square feet and best-in-class construction for peak operational efficiency.”
Ascent Commerce Center is located within Metro Denver’s premier east industrial corridor and less than a 10-minute drive from Denver International Airport and to significant sort hubs for both UPS and FedEx. It is ideally located for a variety of e-commerce, distribution, and logistics users. The property will offer tenants easy access to major highways and proximity to an abundant workforce and public transportation options.
“The Denver warehouse, entertainment, and housing markets are gravitating towards Denver International Airport,” said Dwyer. “Ascent allows users access to a variety of traffic routes, as well as access to the airport while capturing an exceptional volume of employees.”