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May 31, 2023
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Recent Signings Bring Building 1 at Denver Biz Park to Fully Leased


There have been two new leases totaling roughly 57k sf at Central Park Business Center, a recently constructed Class A industrial park in Denver. In one of the deals, restaurant supply company Trimark leased 34.3k sf, while in the other lease, Lifetime Windows is expanding in the park to occupy an additional 22.8k sf of space. The two leases bring Building 1, located at 9525 E. 40th Ave, to 100% occupancy.

Confluent Development, a Denver-based real estate investment and development firm, serves as the project developer and co-owner alongside Invesco Real Estate, a global real estate investment manager. The two-building, 246.6k sf park completed construction in March 2022.

The park is in Denver’s Airport submarket at the intersection of Central Park Boulevard and E 40th Ave with frontage along Interstate 70, visible to approximately 190,000 vehicles per day. The in-fill location is less than a 10-minute drive to Interstate 25, 12 minutes to downtown Denver and 15 minutes to Denver International Airport. The Central Park light rail station is within walking distance as are several retailers, including restaurants, coffee shops and a daycare center.

CBRE’s Todd Witty, Murray Platt and Jim Bolt are marketing the property for lease. New tenant interest will be directed to Building 2 at the park (9575 E. 40th Ave). The 114.3k sf building is available to be leased in full or can be divided into spaces as small as 19.6k sf. The building has 29 dock-high doors, four drive-in doors, 28-ft. clear heights, 2,000 amps of power, ESFR sprinklers and over 140 parking spaces.

Net absorption—a measure of net tenant move ins and move outs—reached its fourth-highest annual total on record in metro Denver in 2022, with nearly 5.1 msf of positive net absorption. Unlike 2021’s total, which was mainly driven by large build-to-suit activity, 2022’s absorption was largely fueled by smaller tenants occupying space built speculatively, like Central Park Business Center. Most of 2022’s activity occurred in Denver’s Airport submarket, which recorded nearly 3 msf of positive net absorption at year’s end, the highest of any submarket.

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