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9/27/23
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Rockefeller Group has purchased a 35.6-acre parcel in Thornton, CO for the development of a three-building, 453.6k sf industrial park. The project – 25 Commerce Park - broke ground this week with completion expected in Q1 2025. Grey Wolf designed the project and Golden Triangle Construction is the general contractor.
The property is located at E. 152nd Ave and Washington St in Thornton. It was sold by Confluent Development, a Denver-based real estate investment and development firm who purchased the site in 2022 and obtained all entitlements and approvals for the project.
25 Commerce Park will consist of three buildings: a 131.3k sf distribution center with 28-foot clear heights, 220 parking spaces, 31 dock-high doors and four drive-in doors; a 146.3k sf distribution center with 28-foot clear heights, 224 parking spaces, 33 dock-high doors and four drive-in doors; and a 176k sf distribution center with, 32-foot clear heights, 231 parking spaces, 41 dock-high doors and four drive-in doors. There are 39 trailer parking stalls available to tenants at each of the three buildings.
“The North industrial submarket continues to experience positive net absorption due to an increase in the populations of Denver, Boulder and Fort Collins, all cities that tenants will have convenient access to from this specific location,” said Matt Bruns, Associate for Rockefeller Group. “The project’s location, along I-25 with access to E-470, I-70 and I-80, made it ideal for our first project in the region where Class-A industrial is in demand as the region expands.”
Many of the country’s most successful companies in the technology, healthcare, bioscience, telecommunications, and aerospace industries have recently located to Denver and are some of the top users of industrial space in the country.
Todd Witty and Daniel Close of CBRE represented the buyer on the purchase of the property and will market the project. Rockefeller Group opened its first office in the region in 2021 and is currently developing more than 2 msf of office and residential in Colorado and Montana.
“These new industrial buildings in Thornton are well-positioned to serve a range of diverse tenants in north metro Denver with a strong surrounding labor pool and easy access to the Front Range via I-25 and E-470,” said Witty. “Industrial tenants in metro Denver continue to pursue speculative industrial development with the region recording its 53rd consecutive quarter of positive net absorption in the second quarter of 2023.”
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