Colorado Real Estate Journal - April 6, 2016
Class A industrial/flex space for users from 6,000 to 30,000 square feet is being developed in north-central Denver. Center Land Co. is building two 30,000-sf buildings at Welby Business Park, located at 2300 E. 77th Ave. It expects to break ground on two more buildings this summer, bringing the industrial park to 120,000 sf. “This is very central to the highway system,” said Melissa LaRusso of Center Land Co., adding that access will be key to attracting companies to the park. The concrete tilt-up buildings will feature high-image, efficient construction with 24-foot-clear ceiling height, dock-high and drive-in loading, LED lighting and a central truck court. “It’s all top-of-the line,” said LaRusso. The first phase will be delivered in May – none too soon, according to Barry Gore, president and CEO of Adams County Economic Development. “Adams County’s industrial vacancy rate hovers around 3 percent, and Welby Business Park will relieve some of the pressure on the market and help bring new businesses and jobs to Adams County,” he said. “The market in this area is just in need of more industrial space,” LaRusso concurred. “There’s not a lot of vacancy out there, so we’re hoping to fill that niche.” Welby Business Park is situated on 11 acres at the southwest corner of East 77th and York Street that Center Land Co. purchased in 2014. Dan Bess and Joe Krahn of Cushman & Wakefield are the leasing brokers for the park, which is being built by dcb Construction Company Inc. Welby Business Park is among a very few speculative industrial developments geared to small to average-size industrial users in the Denver market. Center Land Co. is a family owned business that has operated in the Denver area since the 1950s. It specializes in commercial land development, property acquisition and property management. Center Land’s portfolio includes Harlan Crossing, a 54,250-sf retail/flex property; Center Plaza, a 46,685-sf retail and office/warehouse complex; and additional developments in Brighton, Arvada and Longmont.