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PrimeSource Building Products Leases 170k sf Space in Aurora, CO

1/06/23

PrimeSource Building Products inked a lease for 170.3k sf at HighPoint Elevated, a 5.5 msf industrial park under construction in Aurora, CO. The global building products distributor will relocate from its existing Denver location to occupy space in HighPoint Elevated’s Building 1, developed speculatively and completed in August of last year.

Photo: Kyle Bianchi
Photo: Kyle Bianchi
PrimeSource BP’s lease is the fourth tenant commitment announced at HighPoint in the past 12 months, following Dollar General, Hawthorne Hydroponics and Xcel Energy.

HighPoint Elevated is located at the southeast corner of East 64th Ave and E-470, six minutes from Denver International Airport. Retail space will run through the middle of HighPoint Elevated, along East 64th Ave, providing walkable retail options for tenants and visitors with outdoor seating areas. Infrastructure improvements are underway to widen East 64th Ave to four lanes at the park (six lanes west of E-470) and to add a full interchange at East 64th and E-470, giving tenants the option to bypass I-70 to reach the metro’s northern and southern suburbs.

HighPoint is a 20-minute drive from downtown Denver and is situated within three economic benefit zones: a federal opportunity zone, an Adams County Enterprise Zone and a Limon Foreign Trade Zone.

CBRE’s Todd Witty, Daniel Close, Tyler Carner, Jeremy Ballenger and Jessica Ostermick arranged the lease on behalf of PrimeSource BP and HighPoint’s owner and development partners, Hyde Development and Mortenson Properties Inc.

HighPoint Elevated broke ground in 2021 with the launch of Building 1. Hyde Development and Mortenson Properties Inc built it speculatively, and the 542k sf building delivered in August 2021 37% pre-leased to Hawthorne Hydroponics. PrimeSource BP’s lease leaves Building 1 70% leased, with 170.3k sf remaining. Building 1 has 36-ft clear heights, 50-by-54-ft. column spacing, an ESFR sprinkler system, dock-high and drive-in loading, and trailer parking.

Additional buildings at HighPoint Elevated will range from 64k sf to 1 msf with at least one building slated for cold storage. Outdoor storage is available at several sites throughout the park

“HighPoint Elevated has already attracted a list of top-tier tenants in a short amount of time, which affirms what we and Mortenson Properties, Inc. set out to deliver—an industrial park that caters to the specific needs of companies serving the metro Denver area,” said Paul Hyde, principal at Hyde Development.

Total industrial leasing volume transacted in metro Denver climbed to more than 3.9 msf in the third quarter of 2022—the third-highest quarterly total in the past five years, according to CBRE research.





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