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New Denver Logistics Development is 33% Preleased at Completion

3/26/24

Pivot Denver, a brand new, award-winning 472.8k sf Class A industrial logistics development in Denver has been completed and is 33.5% pre-leased, having signed three tenants totaling approximately 159k sf. The project is owned and developed by Westfield Company Inc, a local developer with deep roots in the Denver community. Once the site of the iconic Denver Merchandise Mart, Pivot Denver commenced construction in late 2022 and is now core and shell complete.

The project’s first tenant signing was Total Tool, a construction tool supplier, which completed a lease for approximately 59k sf of space late last year. Since then, Pivot Denver has also executed notable leases of approximately 75k sf with an undisclosed tenant, and an approximately 25k sf lease with Crescent Electric Supply Company, an electric wholesale supply and distribution company.

Cushman & Wakefield’s Tyler Smith, Alec Rhodes, and Aaron Valdez lead project leasing for Pivot Denver and represented the landlord in all three leases.

Situated on over 30 net acres and strategically located at the junction of 58th Ave and Interstate 25, Pivot Denver comprises four Class A buildings of 162k sf (Building 1), 33.6k sf (Building 2), 154.8k sf (Building 3), and 122.4k sf (Building 4). The buildings offer excellent flexibility to accommodate a broad spectrum of industrial, logistics and manufacturing uses with modern functionality and an ultra-efficient, infill location. Spaces have been particularly designed to and target users with showroom, wholesale, will-call, and last mile uses.

Additional key project features include excellent access directly onto I-25, ample dock/grade loading, 28’ to 32’ clear heights, great parking ratio, and more. The project also displays a prominent double-sided LED billboard for tenant signage opportunities on I-25 visible to over 225,000 vehicles per day.

“Today’s industrial users are recognizing the value of the state-of-the-art functionality and flexibility, center of town location, and direct access and visibility from Interstate 25 that Pivot Denver offers. We are very excited for the future of this project as we put the final touches on an incredible transformation and renewal of this iconic site into a premier infill logistics park in Denver,” added Mitchell.

Pivot Denver provides occupiers with exceptional accessibility across the entire Denver metro area with access to over 2.4 million people within a 30-minute drive via Interstates 25, 70 and 76 that are all within a few minutes driving time from the site. The location is also within minutes of Downtown Denver and advantageously positioned in an Enterprise Zone, offering economic incentives, as well as an Opportunity Zone. The property is also located in unincorporated Adams County providing an advantageous sales tax savings of +/- 50% over Denver and other surrounding cities.

Pivot Denver recently earned the Denver Metro Commercial Association of REALTORS® (DMCAR) prestigious Industrial Deal of the Year Award.




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