Garbage collection and recycling giant Waste Management has signed a 10-year lease renewal at 1640 W. Union Ave. in Englewood. Waste Management will significantly expand its footprint, more than tripling its current two-acre industrial space to occupy all seven acres of the property.
Brokers Adam Hubschman and Paul Cattin of NAI Shames Makovsky, a market-leading, full-service commercial real estate company based in Denver, represented the owners of 1640 W. Union Ave., securing the lease renewal in an off-market deal.
The deal largely represents Waste Management’s commitment to the Denver Metro region. The deal is also representative of NAI Shames Makovsky, Hubschman and Cattin’s commitment to supporting both large national tenants and small, independent family owners, and their unique ability to navigate complex deals that provide mutually beneficial outcomes.
“At NAI Shames Makovsky, we bring a distinctive set of expertise and perspective, as well as a foundation of trust, that makes us well-equipped to work with entities of all sizes and scales, and this deal could not be more indicative of that,” said Adam Hubschman. “This lease affords Waste Management with tremendous opportunity to expand their operations to continue to serve the Denver market while providing the property’s ownership with a top-of-the-market lease of their property under terms that are uniquely suited to the family’s needs.”
The NAI Shames Makovsky brokerage team secured the listing through a referral from NAI Global and began working with the owners in an advisory role. Hubschman and Cattin, who bring an additional layer of investment background as Certified Commercial Investment Members (CCIM), were able to leverage their local expertise and harness the power of NAI Global to execute a deal under a three-phased approach that benefited both parties.