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3/27/25
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United Properties has secured a $20.06 mil joint venture equity investment for Phase I of INOVA, a new, Class A 442.5k sf multi-tenant industrial project being constructed in Centennial (Denver), CO. INOVA consists of five planned shallow-bay rear load industrial buildings on nearly 43 acres. Each building will be situated on separate parcels.
United Properties and its new joint venture partner will launch the project with an initial groundbreaking on Phase I totaling 255.3k sf, comprised of two standalone buildings of 141.5k sf and 113.8k sf on two parcels. There is also an additional vacant five-acre pad site that can house a fifth 43.7k sf freestanding building, which is being targeted for a build-to-suit user. Phase II is currently planned to be two 93.6k sf front park, rear-load buildings for a total of 187.2k sf.
A Cushman & Wakefield industrial capital markets team consisting of Will Strong, Michael Matchett, Molly Hunt, Jack Stamets, and Madeline Warren of the firm’s National Industrial Advisory Group—Mountain West represented United Properties in the equity transaction. The firm’s Tyler Smith, Alec Rhodes and Aaron Valdez also provided local advisory on the assignment and will represent the venture in leasing the project.
“INOVA presented a special partnership opportunity to own and develop a core best-in-class industrial project in the high-demand southeast Denver industrial submarket. The property’s superior location provides exceptional accessibility to Interstate 25, a main artery for logistics and distribution services within the Denver Metro as well as connecting to other key markets in and out of state. Adding to the project’s desirability, Southeast submarket industrial fundamentals have benefited from solid demand, new high image industrial buildings, and a strong labor market,” said Matchett.
INOVA’s site location is immediately east and in between the two intersections of I-25 and Dry Creek Rd and I-25 and Arapahoe Rd, just south of the Denver Tech Center and immediately west of Centennial Airport. Located just 16 miles south of Downtown Denver, the location provides tenants same-day accessibility to the entire Denver population via I-25.
INOVA will be United Properties’ second business park development in the submarket. It is preceded by the highly successful initial phase of the INOVA Business Park development, which is located just a half mile to the west.
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