Colorado Real Estate Journal - March 2, 2016
A Class A industrial building under construction near Interstate 70 and Tower Road in Aurora will come with something that’s never been easy to find in the Denver area: outside storage. The 80,000-square-foot building at Eastpark 70 will have approximately 3 acres of yard space for companies that need outside storage for materials and equipment. The building and yard can be divided for up to two tenants. “I think we are bringing something to the market that is fairly unique,” said Doug Viseur, first vice president in CBRE Inc.’s Industrial & Logistics Services group. While there are buildings in the Denver metro area that have outside storage, they are rare, and those that do exist tend to be older, without high ceiling clearance, ESFR fire sprinklers and other state-of-the-art features found in new construction. Especially given the Denver market’s historic low vacancy rates, “There just aren’t that many buildings that have yard space that are functional buildings,” Viseur said. An exception is Crossroads Commerce Park at Interstates 25 and 70, which also has options for new construction with outside storage. The Eastpark building – one of two speculative Class A buildings under construction in the park – will have 32-foot-clear ceiling height, clerestory glass, ESFR, trailer parking, dock-high and drive-in doors, and fully screened yard space. Known as Building 4, it is located at 19522 E. 22nd Ave. and will be ready for tenants by mid- to late August, said Chris Winn, asset manager for Consolidated Investment Group. “We have had interest from numerous parties because of the uniqueness of the yard, which a lot of buildings do not offer,” said Winn. ‘There just aren’t similar buildings to what we’re building,” Viseur added. A single-asset entity managed by Consolidated Investment Group is developing Eastpark 70, which provides immediate access to Interstate 70 via Smith Road. Also under construction is Building 1, a 356,833-sf distribution building with 36-foot ceiling clearance. The larger building will be delivered in late July. Eastpark 70 is a master-planned industrial park at Smith Road and Ensenada Street. Encompassing 105 acres, it can house very large tenants, as well as tenants as small as approximately 40,000 sf. Viseur and Todd Witty, a first vice president in CBRE’s Industrial & Logistics Services, are the leasing agents