8560 Upland Drive. Picture courtesy of Stream Realty Companions
Constitution Communications, which manufacturers its providers as Spectrum, has renewed and expanded its lease at Compark Enterprise Park in Englewood, Colo., with a further 58,487 sq. ft. The growth brings the tenant’s dedication to 122,000 sq. ft. The economic facility is owned by CWCapital and Kenai Capital Advisors.
Stream Realty Companions Government Managing Director Tyler Reed, Managing Director Peter Beugg and Government Vice President Dominic DiOrio represented the owner. CBRE assisted the tenant.
The Constitution growth grew to become doable because the adjoining house grew to become accessible. The opposite tenant occupying the rest of the constructing is AVI-SPL, a supplier of collaboration and audio-video applied sciences.
Denver industrial: A really dynamic market
Within the fourth quarter of 2022, the leasing quantity in metro Denver reached greater than 2 million sq. ft, with an annual quantity of 11.2 million sq. ft, a CBRE report exhibits. On account of regular tenant demand, the common achieved charge elevated 16.7 p.c year-over-year.
Simply this week, Invesco, in a three way partnership with Confluent Improvement, inked two leases totaling 57,055 sq. ft at Constructing 1 of Central Park Enterprise Heart in Denver. Earlier this 12 months, a bigger lease transaction came about, as Hyde Improvement and Morten Properties Inc. landed a tenant at Excessive Level Elevated, a 5.5 million-square-foot industrial park below building in Aurora, Colo. PrimeSource Constructing Merchandise signed a 170,300-square-foot lease.
A Class A facility southeast of Denver
Compark Enterprise Park final traded in 2020, when Kenai Capital acquired the asset for $23.2 million from Hendricks Industrial Properties, based on CommercialEdge knowledge. The ability grew to become topic to A $26.5 million mortgage with a maturity date set for 2030, originated by H.I.G. Capital, the identical knowledge supplier exhibits.
The one-story Class A flex constructing got here on-line in 2001, encompasses 149,143 sq. ft and sits on 8.4 acres. The property affords accommodating ingress and egress choices, dock-high loading doorways, drive-in doorways, ESFR fireplace sprinklers, dock levelers and bumpers and options 24-foot clear peak. The ability consists of 327 parking areas.
Compark Enterprise Park is situated at 8560 Upland Drive, 21 miles southeast of downtown Denver and has entry to Interstate 25. Corporations within the surrounding space embody Amazon, FedEx and UPS.
