Colorado Real Estate Journal - April 6, 2016
United Properties has signed two large tenants for a new building at Enterprises Business Center at Stapleton. Dealer Tire will occupy 80,781 square feet in the building at 10000 E. 40th Ave. in Denver, while Pental Granite & Marble leased 80,674 sf. Dealer Tire will expand from its existing location in Denver, while Pental Granite is new to the Denver market. Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank represented United Properties in the transactions. Ron Webert and Brian Cox of Lee & Associates represented Dealer Tire, and Drew Hill and Paul Kahn of NAI Shames Makovsky represented Pental Granite & Marble. The tenants will occupy space in a 467,000-sf building at Enterprise Business Center, which has 107,000 sf available. Webert said Dealer Tire’s lease will give the company nearly double the room it currently has in Denver. “We did a pretty exhaustive search of the market. We had limited options because of the size and because of the nature of the requirement,” he said, adding the tenant is fortunate to have secured a spot in what is “probably the best industrial park in the city.” United Properties, which has had success preleasing buildings within the business center, currently is under construction on its third phase, which will bring development to date to 1.2 million sf. The third phase includes a 650,000-sf, 32-foot-clear distribution building where Beverage Distributors will occupy 504,000 sf and a 160,000-sf front-park, rearload building, a third of which is under negotiation with a single tenant, according to Kevin Kelley, United Properties senior vice president and regional director for Colorado.