Colorado Real Estate Journal - January 6, 2016
A 70,080-square-foot industrial building in Aurora leased up almost immediately, a sign of the times in Denver’s hot industrial market. Universal Forest Products Inc., a building materials company with locations in Windsor and Lafayette, signed a long-term lease for the building at 14700 E. 38th Ave. in Aurora. “That building actually hadn’t even come on the market. The tenant was just moving out,” said Kirk Vanino, Cushman & Wakefield director of industrial brokerage. “This speaks to the strength of our industrial market.” Vanino, who represented the tenant with Cushman & Wakefield’s Taylor Hazard, said the property fit UFPI’s needs “almost perfectly.” The building has rail service and loading doors that UFPI needs to bring in raw materials for assembly of doors and doorframes. “They were looking for right around 70,000 square feet. They were looking for upgraded power. The building was 70,000 square feet and already had 600 amps of three-phase power, which was perfect for their needs,” Vanino said, adding the landlord was in the process of upgrading the building’s fire protection system to ESFR. “We got everything we needed and a perfect amount (4,048 sf) of office,” he said. Tom Stahl and T.J. Smith of Colliers International represented the landlord, TA Realty. The building has 14 dock-high doors, two drive-in doors and 22-foot clear height. UFPI expects to move into the space Jan. 1. Other News Ryder Logistics recently signed a 66,014-square-foot lease at Denver Urban Business Center, the redevelopment of the former Sears Outlet property at West Sixth Avenue and Interstate 25. JLL’s Tyler Reed said the tenant was attracted to “the central location and immediate access to I-25, which increased efficiencies for their supply chain. That really drove the decision to go central to our park over somewhere on I-70,” he said. The deal represents an expansion within the market for Ryder Logistics. Mike Camp of CBRE represented the tenant in the deal. Reed and JLL’s Mitch Zatz represented the landlord, a partnership of Triumph Real Estate and Arc Capital Partners. Ryder Logistics joins White Cap, a division of HD Supply, which leased 107,000 sf at Denver Urban Business Center last year. The park is located at 701 Osage St. Zippy Shell’s former 19,900-sf space at Warehouse Central in Denver was subleased immediately after the tenant moved out, and Zippy also leased up extra space in its new building. Consolidated Electric, which was located nearby, subleased the Warehouse Central space at 2465 W. Fourth Ave. Zippy Shell also leased 10,000 sf in its new building at 72 Inverness Lane East in Englewood to 303 Volleyball Club. The 43,520-sf building is fully leased. Zippy Shell delivers, picks up and stores storage containers. Cushman & Wakefield brokers Kirk Vanino and Taylor Hazard handled both transactions. Molder LLC paid $650,000 for 6.97 acres of industrial land at 8440 Spruce Mountain Road in Larkspur. Pueblo Bank and Trust Co.was the seller. Matt Call and John Witt of NavPoint Real Estate Group represented the bank. Karin Adams of United Country Legacy Properties represented the buyer. The buyer will use the property for construction equipment storage and plans to build a small office on the property at some point. The land is located off of Upper Lake Gulch Road and South Spruce Mountain Road, with nearby access to Interstate 25.