September 21-October 4, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 11
Industrial
by Jill Jamieson-Nichols
A national supplier to major
restaurant chains will build a
250,000-square-foot building at
Nexus at DIA.
McLane Foodservice Inc. is
the first user in the 250-acre
business park. It plans to start
construction immediately and
occupy the building as early as
July 2017.
Formerly known as DIA Tech
Center, Nexus at DIA is a joint
development of Schuck Com-
munities and CH Thompson
Company LLC.
McLane currently operates a
facility in Aurora. Its new dis-
tribution facility, to be located
northwest of the intersection
of Peña Boulevard and Tower
Road, will employ 240 people.
“We’re very excited to have
McLane as a part of Nexus at
DIA,” said Chris Thompson of
CH Thompson Co. “McLane is
an excellent organization and
will be a tremendous addition
to the Commerce City business
community.”
Drew McManus of Cushman
& Wakefield represented the
seller in the transaction. Mike
Quint of Jackson & Cooksey in
Dallas/Fort Worth represented
the buyer.
Public records show McLane
paid $2.88 million for the prop-
erty, the latest large parcel in the
DIA area to sell to a distribution
user. Wal-Mart recently paid
$13.6 million for just under 169
acres near the airport for what
is expected to be a huge e-com-
merce distribution facility.
“This transaction represents a
growing trend of users wanting
to self-perform their develop-
ments and/or own their proj-
ects. This is due to a lack of
existing for-sale product meet-
ing requirements, as seen with
Wal-Mart, Medline (Industries
Inc.) and McLane, and also the
record high rental rates our
market is experiencing in this
cycle,” McManus commented.
McLane Foodservice Distri-
bution is part of the McLane
Company Inc., which is head-
quartered in Texas. The $48
billion company provides gro-
cery and food-service supply
chain solutions for convenience
stores, mass merchants, drug-
stores and chain restaurants
throughout the United States. It
is a wholly owned unit of Berk-
shire Hathaway Inc.
Nexus at DIA is a master-
planned business park at Peña
Boulevard and Tower Road. A
number of other distribution
and airport-related companies
are in various stages of deals
within the park, which has sites
for retail, hospitality, ware-
house, office, airport-related
businesses and other uses.
“Nexus at DIA is a very
dynamic development, and we
couldn’t be more pleased with
the activity we’ve seen in recent
months due to the outstand-
ing representation that Drew
McManus and the Cushman &
Wakefield team continue to pro-
vide,” said Steve Schuck, presi-
dent of Schuck Communities.
“And we are proud to have
McLane Foodservice Distribu-
tion as the first major employer
to move into Nexus.”
s
by Jill Jamieson-Nichols
A manufacturing facility on
just over 16 acres of land in Hen-
derson recently sold to a local
family investment company for
$10.53 million, or $104.74 per
square foot.
Merritt Professional Properties
LLC bought the 100,490-sf build-
ing at 9461 Willow Court from
Compression Systems LLC. The
property serves as UE Compres-
sions’ corporate headquarters.
“Merritt Professional Proper-
ties has been a longtime land-
owner in the area. They were
extremely familiar with the area
and it fit their investment cri-
teria for their 1031 exchange,”
said Unique
P r o p e r t i e s
I n c . - T C N
Wo r l dwi de
E x e c u t i v e
Vice President
Sam Leger.
UE Com-
pressions leas-
es the prop-
erty on a long-
term basis.
Completed in 2012, the build-
ingwas a build-to-suit for the ten-
ant and has 34-foot clear height,
16 30-foot overhead doors, seven
cranes and heavy power. Those
features along with the large site
“made the property quite attrac-
tive,” said Leger, who represent-
ed the buyer with Tim Finholm,
also an executive vice president
at Unique Properties.
It generated strong interest
from both institutional and pri-
vate users based on the long-
term lease and quality construc-
tion, said Jeremy Ballenger, vice
president in industrial properties
at CBRE. Ballenger represented
the seller with CBRE’s Jim Bolt
and Tyler Carner.
Other News
n
Frozen Food Express
leased
33,127 square feet of freezer/
cooler/food production space at
the Colorado Trade Center, 5151
Bannock St. in Denver.
Tyler Smith
and
Craig Myles
of
Cushman & Wakefield
repre-
sented the landlord,
Conscience
Bay Co. Mike Wafer
and
Steve
Fletcher
of
Newmark Grubb
Knight Frank
represented Fro-
zen Food Express.
s
UE Compression occupies the building at 9461 Willow Court in
Henderson.
Sam Leger
by Jill Jamieson-Nichols
The Opus Group is under-
way on a speculative building
that not only can accommodate
“smaller” industrial users but
also is available for sale.
Rangeview Industrial Center
is a 122,500-square-foot building
being built on 6.4 acres at Majes-
tic Commercenter in Aurora. It
will be the only building in the
business park, and one of the
few in the submarket, to accom-
modate users as small as 40,000
sf. It also could house a single
tenant or user.
“There is strong demand for
industrial developments in the
Denver area, and this project
will offer a high-quality facility
in a sought-after location,” said
Peter Coak-
ley, senior
vice presi-
dent
and
general man-
ager of Opus
D e v e l o p -
ment Com-
pany LLC.
“Rangeview
I ndus t r i a l
Center will
be able to accommodate smaller
industrial users that to date have
not been adequately served in
this market, making it a much-
needed facility for future ten-
ants.”
The building will offer 32-foot
clear height, 22 dock positions,
two drive-in doors, and flexible
outdoor space for additional
storage and trailer parking.
Mike Wafer of Newmark
GrubbKnight Frank,who ismar-
keting the
space with
Mike Wafer
Jr., also of
NGKF, said
the project is
a bit unusual
in offering a
lease or own
option.
“We think
it’s a little dif-
ferent to have a for-sale building
of that size that will appeal to
companies that want to own,”
he said. “Rangeview Industrial
Center provides a unique oppor-
tunity for industrial users or
tenants to purchase a modern
building, or lease with an option
to buy, as many industrial users
prefer to own their real estate.
Alternatively, tenants may lease
this building due to the high-
quality construction and state-of-
the-art features,” Wafer said.
Located near Interstate 70 and
Tower Road, the building will
have quick access to the inter-
state and toDenver International
Airport.
Opus Design Build LLC is the
design-builder.WareMalcomb is
the architect of record, and Peak
Engineering Inc. is the structural
engineer of record.
Opus recently acquired the
development site from 1435
Pearl Street Apartments LLP for
$1.12million, according to public
records.
Opus has completed, over the
last 24months, or has in the pipe-
line, 8.2 million sf of industrial
development across the coun-
try. Its recent projects include an
industrial build-to-suit for Char-
ter Communications in Engle-
wood.
Other News
n
Raritan Partners LLC
sold a
three-tenant industrial property
at 2835 S. Raritan St. in Engle-
wood to
Darrow Family Part-
nership
for $760,000.
The sale of the 9,600-square-
foot building closed within 30
days, according to
Russell Gru-
ber
of
Newmark Grubb Knight
Frank,
who represented the
buyer.
“This was a really great bite-
sized deal in an underserved
asset class. The demand for
small-bay industrial space is
very strong, putting the buyer
into a great asset,” said
Brandon
Kramer
of
Marcus & Millichap.
Kramer represented the seller
with Marcus &Millichap’s
Sean
Gelson
in Denver, along with
Gus Lagos
and
Evan Altemus
in the company’sHouston office.
The building has a strong his-
tory of steady cash flow and
high occupancy, according to
Marcus &Millichap. “Because of
the high demand, we saw mul-
tiple offers andwere able to close
10 percent above our list price,”
Kramer said.
Built in 1977, the building was
100 percent leased at the time of
the sale.
s
Rangeview Industrial Center can accommodate tenants as small as
40,000 square feet but also is being offered for sale.
Peter Coakley
Mike Wafer
McLane Foodservice Inc. will build a 250,000-square-foot distribution facility at Nexus at DIA.
