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10/13/22
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Saunders Commercial Development Company and Winslow Investments have broken ground on Boyd Lake Commerce Center, an industrial manufacturing and distribution project in Loveland (Fort Collins), CO totaling 1 msf when fully built out. The new Northern Colorado project is launching with the speculative construction of a 100.1k sf freestanding building on nine acres that can accommodate a single or multi-tenant user along with outdoor storage space and expanded trailer/auto parking.
Located along Boyd Lake Ave, the new building is divisible to 20k sf and features 28’ clear height, four drive-in doors, 24 dock-high doors, ESFR sprinkler system, 2,000 amps and 277/480 volt power, with 179 parking stalls, plus the outdoor storage area.
The property provides direct access to Hwy 34, Crossroads and Hwy 392, Hwy 287 and I-25. It also provides regional access to Interstate 70 in Denver and Interstate 80 in Wyoming. The property is also located adjacent to the Northern Colorado Regional Airport.
The first building is scheduled for delivery Summer 2023. Cushman & Wakefield’s Jason Ells, CCIM, Aaron Valdez, SIOR, Tyler Smith, CCIM and Alec Rhodes, SIOR are handling the leasing efforts for the project.
According to Cushman & Wakefield’s Q2-2022 market report, Northern Colorado’s overall industrial market vacancy fell to a tight 3.2%, while for the 18th consecutive quarter industrial asking rates increased, rising from a once all-time high of $12.02 per square foot (psf) on a triple-net (NNN) basis in Q1-2022 to $12.23 in Q2-2022. Additionally, leasing activity in Q2-2022 was a staggering 525k sf, a 46% increase from Q1-2022, and the most active quarter for leasing activity in over a decade (since Q1-2012). Net absorption was also positive in Q2-2022 for the seventh consecutive quarter, with over 400k sf of growth at mid-year.
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