Constructing 1 at HighPoint Elevated. Picture by Kyle Bianchi, courtesy of CBRE
Hyde Growth and Mortenson Properties Inc. have landed a brand new tenant at HighPoint Elevated, a 5.5 million-square-foot industrial park below building in Aurora, Colo. PrimeSource Constructing Merchandise has signed a 170,300-square-foot lease and can relocate from its present Denver location to Constructing 1 of the event.
Building of Constructing 1 at HighPoint Elevated started in 2021 as a 542,000-square-foot speculative warehouse. The construction got here on-line in August of final 12 months and is now 70 p.c leased, with solely 170,294 sq. ft remaining.
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Over the previous 12 months, three different tenants dedicated to HighPoint Elevated, corresponding to Hawthorne Hydroponics which preleased 37 p.c of the house at Constructing 1. Again in August 2022, Greenback Basic bought 75 acres at HighPoint, with the event workforce slated to construct a 919,000-square-foot Class A distribution facility for Greenback Basic. In response to Mile Excessive CRE, Xcel Vitality additionally bought 10 acres on the industrial park for the development of a 40,000-square-foot, built-to-suit facility.
A CBRE report for final 12 months’s third quarter confirmed that the whole leasing quantity transacted within the metro surpassed 3.9 million sq. ft, marking a 23.7 p.c improve from the third quarter of 2021.
A Class A master-planned industrial park
HighPoint Elevated presents a wide range of choices, together with house for lease, speculative building or lease, built-to-suit and land-site buy. Constructing 1 options 36-foot clear heights, 50 by 54 ft column spacing, an ESFR sprinkler system, dock-high and drive-in loading, and trailer parking. Further buildings throughout the park will vary from 64,000 sq. ft to 1 million sq. ft and are slated to incorporate chilly storage amenities, as properly. Out of doors storage is offered all through the park.
The commercial property is inside three financial profit zones: a federal alternative zone, an Adams County Enterprise Zone and a Limon International Commerce Zone. The park is situated on the southeast nook of East sixty fourth Avenue and E-470, 23 miles from Denver, and eight miles from Denver Worldwide Airport. The encircling space is residence to firms corresponding to Costco, Kärcher North America and FedEx.
