Colorado Real Estate Journal - May 6, 2015
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 supplies, 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/distribution building, which is in the final stages of completion, is 100 percent leased. HD Supply leased 261,000 sf of the speculative building’s 392,425 sf late last year. The state-of-the-art cross-dock building has 32-foot ceiling clearance, 24 dock doors, 185-foot truck courts and 20 trailer parking spaces. It is targeted for LEED certification. Bill Thompson of CBRE, along with CBRE brokers Jim Bolt and Mike Camp, represented Prologis in the lease transactions. Chris Nordling of Newmark Grubb Knight Frank represented Animal Supply. Given a lack of available inventory in its 1.2 million-sf Stapleton Business Center North, Prologis is planning construction of a new 251,617-sf building. The company owns and operates more than 5.5 million sf of industrial space in 31 buildings in the Denver market.
-North Cherokee Investors paid $2.09 million for a 46,041-square-foot warehouse at 10838 Highway 93, north of Golden. SkyFuel currently occupies the building on a short-term lease. Mike Wafer of Newmark Grubb Knight Frank said the buyer recognized the property as “a very good quality building in an area that hadn’t received much attention,” and it was priced lower than most other available buildings. The buyer is “confident that the recovering industrial market will generate more activity in this corridor” and anticipates taking advantage of rapidly increasing rental rates, said Wafer. Located on just over three acres west of Rocky Mountain National Wildlife Refuge, the building has three dock-high loading doors, approximately 1,500 sf of office space, 20- to 22-foot ceiling clearance, a wet sprinkler system and paved parking. Wafer is marketing the building for lease and is seeking a long-term tenant. Joe Dunn of Cresco Properties represented the seller, RAC Development Corp.