Eastpark 70. Picture courtesy of CBRE
Developer and landlord Consolidated Funding Group has secured 137,500 sq. toes in new leases at Eastpark 70, a 13-building, 1.3 million-square-foot enterprise park in Aurora, Colo. CBRE brokered the deal on the possession’s behalf.
Efficiency Contracting signed a 77,140-square-foot lease to occupy all the Constructing 6 throughout the campus, whereas Empire As we speak inked an settlement to occupy the remaining accessible 60,350 sq. toes in Constructing 5. The closing of those leases resulted within the industrial park reaching full occupancy.
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UPS, Benjamin Moore, JFC Worldwide and Empire Flooring are among the many different tenants at Eastpark 70, in response to CommercialEdge,
Buildings 5 and 6 reached completion in October of final 12 months. Each have dock-high and drive-in loading, ESFR sprinklers, 32-foot clear heights and trailer parking. The developer plans the development of a further 117,500-square-foot constructing.
Situated at 19722 E. twenty second Ave. and 19922 E. twenty second Ave., the 2 buildings are situated simply west of Interstate 70, close to the intersection with Tower Highway, providing connectivity to different thoroughfares together with toll street E-470, in addition to interstates 25, 225 and 270.
The positioning is zoned as I-1 Aurora and has obtained approval for out of doors storage. Downtown Denver and Denver Worldwide Airport are each some 16 miles away. Moreover, Eastpark 70 is adjoining to Subaru and Amazon services.
Denver’s industrial sector reveals resilience
CBRE Senior Vice Presidents Doug Viseur and Todd Witty brokered the lease on behalf of Consolidated Funding Group. Earlier this 12 months, the identical brokers had been a part of the group that represented a partnership between Confluent Improvement and Invesco Actual Property in signing two leases totaling 57,055 sq. toes at Constructing 1 of Central Park Enterprise Heart, a Class A, two-building industrial park in Denver. The leases introduced that constructing to full occupancy as effectively.
The economic sector in metro Denver recorded constructive internet absorption of 724,000 sq. toes within the first quarter of 2023, in response to CBRE analysis. This achievement marked the 52nd consecutive quarter of constructive internet absorption.
Amongst Denver’s submarkets, the Airport submarket, the place Eastpark 70 is located, outperformed others by accounting for 42 % of leasing exercise and 46 % of the full constructive absorption within the quarter, the identical supply reveals.
Regardless of the commercial sector being inclined to financial fluctuations, it demonstrates continued resilience, mentioned Witty in a ready assertion. The demand for contemporary industrial buildings stays strong amongst tenants, which is a big issue contributing to Denver’s constructive absorption, he added.
