CenterSquare Investment Management and Quannah Partners broke ground last week on The Point at Denver South, a two-building, 195,000-square-foot last-mile logistics industrial development at Chambers Rd. & Otero Ave., Centennial. Site work construction began in January 2023, with an anticipated project delivery by January 2024.
The investment will comprise two buildings: Building #1 (141,000 SF) and Building #2 (54,000 SF). The buildings will feature 32’ and 28’ clear heights, respectively, with 37 dock-high doors, six drive-in doors, and five at-grade overhead doors. This project will also feature 16 trailer parking spaces and will be tailored to meet the needs of a wide variety of potential tenants. The project presents an opportunity for multi-tenant leasing ranging from 22,000 to 140,000 square feet, with Building #2 well-suited for a single user.
The project is strategically located, providing quick access to multiple throughways, and is less than two miles from Centennial Airport. The project’s location also offers abundant access to neighborhood amenities.
The development plan calls for a number of environmental considerations to be incorporated, including the installation of an energy-efficient HVAC system and lighting, a water-conserving irrigation system, vegetated ground cover, and solar reflectance roofing.
“Upon completion, this asset will be well-positioned to meet the needs of a burgeoning submarket and will offer an excellent opportunity for tenants in search of a modern, streamlined logistics solution to satisfy growing demand within the region,” says Robert Wasenius, senior vice president, private real estate at CenterSquare. “This project reflects our conviction in the continued demand for state-of-the-art last-mile distribution facilities in high-growth submarkets.”
“We’re excited to be developing these assets with our joint venture partner CenterSquare and our construction lender CIBC Bank,” said Doug Wiley, Quannah Partners. “The Southeast submarket continues to demonstrate positive leasing fundamentals, especially for local and regional customers who remain active despite last year’s economic volatility. The limited supply of new developments in this proven submarket and durable demand for modern Denver South facilities and satellite locations as metro-wide drive times increase are poised to provide near-term tailwinds for this investment.”
Leasing efforts for this project will be overseen by T.J. Smith, tj.smith@colliers.com, Nick Rice, nick.rice@colliers.com, and Nicholas Nasharr, nasharr@colliers.com with Colliers.
