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Page 4AA — COLORADO REAL ESTATE JOURNAL — May 6-May 19, 2015
by Jill Jamieson-Nichols
After securing two large ten-
ants for the biggest speculative
industrial building ever built in
Denver, Majestic Realty Co. will
follow up with a 452,400-square-
foot sister building at Interstate 70
and Tower Road in Aurora.
The decision to move forward
with Majestic Commercent-
er’s Building 29 follows Fresca
Foods’ lease for 158,000 sf lease in
Building 28, a newly completed
500,000-sf spec building. Niagara
Bottling preleased 132,000 sf in
Building 28 earlier this year.
With Denver’s constricted
industrial market continuing to
absorb space and a number of
tenants in the 100,000- to 250,000-
sf range looking for options,
Majestic believes it will be in
good stead when it delivers the
newest building Nov. 1.
“We’ve taken a very close look
at local and national market con-
ditions, vacancy and absorption
rates, product supply and the suc-
cess we’ve had providing large,
high-quality, high-cube indus-
trial space that is the best in the
market,” said
Majestic Real-
ty Executive
Vice President
and Director
of Develop-
ment Randy
Hertel. “We’re
excited about
the opportuni-
ty to continue
that momen-
tum in our park and we strongly
believe that now is the time to
bring the space to the market in
anticipation of our growth late
this year and into 2016.”
Hertel said there continues tobe
activity from tenants like Niagara
Bottling and Fresca Foods that
are expanding their Denver pres-
ence, as well as tenants new to
the Denver market. There already
has been some interest in the new
building, he said.
Building 29 will be one of the
five largest spec buildings to be
built in Denver. Designed and
constructed by Commerce Con-
struction Co., it will be located
on just over 22 acres and will
feature 32-foot minimum ceiling
clearance, 96 dock doors with
either single-side or cross-dock
loading, 50-by-52-foot bay spac-
ing, a 60,000-sf speed bay, ESFR
sprinkler system, 116 trailer park-
ing spaces and skylights. It will
offer east and west loading areas;
build-to-suit, glass-front offices
on each corner for divisibility;
and 375 car parking spaces.
With the Fresca Foods and
Niagara Bottling leases, Majes-
tic’s Building 28 has 210,000 sf
remaining, which is divisible to
units of 118,000 and 92,000 sf.
Fresca Foods, which was rep-
resented by Neil Littmann of The
Colorado Group, has been a ten-
ant at Majestic Commercenter for
the last three years and needed to
expand beyond its existing 80,000
sf. The new building will allow
it to double its space to grow its
operation and also consolidate a
Louisville location when its lease
there expires at the end of the
year. The company is a brand
accelerator for natural foods com-
panies including Larabar, White
Girl Salsa, 34 Degrees, Rocky
Mountain Popcorn and Love
Grown Foods.
Niagara Bottling, the largest
private-label bottled water sup-
plier in the United States, has
its bottling operations a few
miles from its new warehouse at
Majestic Commercenter.
Los Angeles-based Majestic
Realty is the largest privately
held developer and owner of
master-planned business parks
in the U.S. with a portfolio of 74
million sf.s
Industrial
Building 29, which could be divided into four spaces, will comprise
452,400 square feet.
Randy Hertel
by Jill Jamieson-Nichols
A wholesale pet food supplier
signed a lease for 131,399 square
feet in a new industrial building at
Stapleton Business Center North.
Animal Pet Supply Co., which
distributes pet food and sup-
plies, has outgrown the 74,260 sf
it occupies at 10432 E. 49th Ave.
in Denver. It will relocate to 10000
E. 56th Ave. Prologis owns both
buildings.
With the Animal Supply lease,
Prologis’ newest warehouse/dis-
tribution building, which is in the
final stages of completion, is 100
percent leased. HD Supply leased
261,000 sf of the speculative build-
ing’s 392,425 sf late last year.
The state-of-the-art cross-dock
building has 32-foot ceiling clear-
ance, 24 dock doors, 185-foot truck
courts and 20 trailer parking spac-
es. It is targeted for LEED certifica-
tion.
Bill Thompson of CBRE, along
with CBRE brokers Jim Bolt and
Mike Camp, represented Prolo-
gis in the lease transactions. Chris
Nordling of Newmark Grubb
Knight Frank represented Animal
Supply.
Given a lack of available inven-
tory in its 1.2 million-sf Stapleton
Business Center North, Prologis is
ʻWe’re excited about
the opportunity
to continue that
momentum in our
park and we strongly
believe that now is
the time to bring the
space to the market
in anticipation of our
growth late this year
and into 2016.ʼ
– Randy Hertel, Majestic Realty Co.