Two New Tenants Sign Large Industrial Leases at Eastpark 70 Industrial Park in Aurora
Two new companies have signed large industrial leases in the recently completed Building 2 and Building 3 at Eastpark 70 Industrial Park
in Aurora. Stephen Gould Corporation and a confidential e-commerce retailer are joining the Class A industrial park located just southeast of the intersection of I-70 and Tower Road. CBRE’s Todd Witty and Doug Viseur arranged the leases on behalf of Eastpark 70’s developer and landlord, Consolidated Investment Group of Englewood.
“The larger of the two buildings, Building 2, is 245,847 square feet, yet divisible to as small as +/- 40,000 square feet. Dividing large buildings into smaller spaces at the park allowed us to capture a wide range of tenants who wanted functional Class A space, while still providing competitive lease rates,” said Todd Witty, first vice president, CBRE.
Stephen Gould Corporation has leased 40,808 square feet in Building 2, located at 19700 East 23rd Avenue. The Whippany, N.J.-based company is one of the largest privately-owned packaging sales organizations in the U.S. Locally, Stephen Gould Corporation currently operates out of the Airways Business Center at 2255 North Pagosa Street in Aurora. With the new lease, Eastpark 70 Building 2 is now at full occupancy.
The second lease is in Building 3, which was just completed in September and is located at 19900 East 23rd Avenue. A confidential e-commerce retailer pre-leased 75,869 sq. ft. to serve as a local distribution center. CBRE’s Jeremy Ballenger, Tyler Carner and Jessica Ostermick represented the retailer in the lease.
The new lease at Building 3 means the building was 65-percent pre-leased leading up to its delivery, following an earlier commitment by Benjamin Moore. Features include 64 dock-high doors, four drive-in doors, 23 trailer parking stalls and 187 auto stalls. The building is a cross-deck design with office space available to suit. Building 3 totals 220,247 sq. ft. with approximately 75,000 sq. ft. remaining available for lease.
Eastpark 70 is zoned M-1 industrial with approval for outside storage. Buildings 2 and 3 join two other buildings recently completed at the park, both of which are fully leased. Consolidated Investment Group has developed each phase of Eastpark 70 speculatively. Upon completion, the 105-acre industrial park has the potential to contain nearly 1.4 million sq. ft. of Class A distribution and manufacturing space.
“We are very excited and pleased to welcome these new tenants to Eastpark 70. Their decisions to lease at Eastpark validates the quality design, location and functionality of our project,” said Tim Bertoch, vice president, Consolidated Investment Group.
Consolidated Investment Group is an Englewood-based investment company that actively invests in real estate, capital markets, private equity and philanthropy. Its real estate investments include office and land, with a core focus on multifamily and industrial investment and development projects, like Eastpark 70.
Photos courtesy of CBRE