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Page 8 — COLORADO REAL ESTATE JOURNAL — March 18-March 31, 2015
Greater Denver
by Jill Jamieson-Nichols
A construction-supply com-
pany has leased 107,000 square
feet at the former Sears Outlet
property at West Sixth Avenue
and Interstate 25, a key first
step in the property’s redevel-
opment.
White Cap, a division of HD
Supply, will consolidate two
existing locations in Denver and
Englewood with its move to
the new Denver Urban Business
Center.
“This building worked well
because it provides really good
identity and access. It provides
some of the best identity in the
city,” said Alec Rhodes of DTZ,
who represented the tenant with
DTZ’s Tyler Smith.
“White Cap seized a great
opportunity to be the lead ten-
ant at a property that offers func-
tional space with unmatched
highway access and visibility,”
added JLL’s Mitch Zatz. “We
are very excited to have them as
a partner while we continue to
attract other businesses that can
benefit from the location and
function of the property.”
Zatz and JLL’s Peter Beugg
and Tyler Reed represented
Denver Urban Business Center
in the transaction.
White Cap will open a ware-
house and will-call center to ser-
vice its large contractor base. It
will be operational in the build-
ing at 701 Osage St. this sum-
mer.
DUBC is located on the north-
east corner of Sixth and I-25.
The Sears Logistics and Sears
Outlet facility was located there
for the past 60 years. Owner Arc
Capital Partners of Los Ange-
les and developer Triumph Real
Estate Corp. of Denver now are
transforming the property into a
multitenant distribution center.
Denver Urban Business Cen-
ter is located in the central Den-
ver industrial submarket, where
the vacancy rate is at an all-
time low, hovering around 2
percent. DUBC is the only avail-
able property in central Denver
that offers trailer parking, flex-
ible unit sizes and unfettered
access to Sixth Avenue, I-25 and
downtown Denver.
“My hat is off to the profes-
sionals at JLL and DTZ for their
expertise and the expertise they
brought to bear in putting this
complex transaction together,”
said Paul Ruff of Triumph Real
Estate. “We are proud to wel-
come White Cap as an anchor
tenant to Denver Urban Busi-
ness Center and are excited for
the significant momentum the
transaction adds to the market
and the project.”
The central Denver submarket
has seen tremendous momen-
tum in the latest recovery with
businesses requiring close prox-
imity to downtown Denver
to serve the rapidly expand-
ing millennial population and
construction boom. Next-day
delivery and diminishing lead
times for product delivery make
location of leased facilities more
critical than ever.
“We could not be more excited
since this lease validates both
the strength of the Denver
economy as well as the mission-
critical location of our property.
Thanks to the efforts of Triumph
and JLL, we have seen leasing
activity accelerate faster than
expected,” said Neville Rhone
of Arc Capital Partners.s
The former Sears Outlet property at West Sixth Avenue and Interstate 25 is being redeveloped into Denver
Urban Business Center.