Solar Empire. Picture courtesy of Darkish Roast Media through CBRE
The Opus Group, in partnership with Principal Actual Property Traders, has began development on Solar Empire, a 3.9 million-square-foot industrial mission in Aurora, Colo. The builders bought the 316-acre land in July 2022, for $49.7 million, with the help of CBRE.
The primary section of the event will include two buildings of 624,535 sq. toes and 204,496 sq. toes. CBRE’s Senior Vice Presidents Todd Witty and Daniel Shut, the identical workforce that oversaw the land acquisition, can be advertising the economic park for lease, sale and build-to-suit improvement.
Each Class A buildings within the preliminary section can be out there for lease in early 2024, and can characteristic drive-in loading and dock-level doorways, over 140 trailer parking spots and 660 automobile parking spots. Constructing 1A can have a cross-dock design that may characteristic as much as 156,133 sq. toes floorplates, 110 dock doorways and 32-foot clear heights, whereas the rear-load designed Constructing 1B will characteristic floorplates of 51,124 sq. toes, with 38 dock doorways and 40-foot clear heights. With facilities and workplace capabilities included, each buildings might be leased to a single tenant.
Numerous rental proposals
Part I is underway on the northwest nook of the event web site. Relying on tenant desire, future phases can accommodate constructing sizes between 200,000 and 1 million sq. toes. Every new improvement could be a build-to-suit if the finished buildings don’t meet a future tenant’s wants, famous Shut.
The mission will supply as a lot as 1.4 million sq. toes of speculative industrial house out there for lease, build-to-suit for lease or sale, in addition to user-land sale. Solar Empire is located near interstate 70 and 225, inside 29 miles of downtown Denver, whereas offering easy accessibility to Denver Worldwide Airport.
Denver’s availability of business house has dropped by 30 foundation factors on a year-over-year foundation, closing 2022 at 7.2 p.c, in response to analysis from CBRE. A gradual demand and powerful leasing exercise are anticipated to additional compress availability within the coming quarters.
In December 2022, the partnership broke floor on a three-building speculative industrial improvement in Phoenix. With Opus serving as developer, architect and designer, the 365,000-square-foot mission is predicted to be accomplished in late 2023. Earlier this month, Agilent Applied sciences Inc. moved ahead with its $725 million growth mission in Denver space. The corporate commenced development on a 200,000-square-foot constructing in Frederick, Colo., growing its manufacturing capability.
