BroadRange Logistics has signed the biggest industrial lease recorded to date in Colorado. The third-party logistics agency dedicated long-term to greater than 1.1 million sq. toes at 76 Commerce Heart, a 1.7 million-square-foot campus in Brighton. This additionally marks the agency’s first location within the state.
The corporate will occupy Buildings 1 and three on the property owned by Hyde Improvement and Mortenson Properties Inc. beginning September. CBRE organized the deal on behalf of each events, with Strategic Actual Property Companions additionally representing the tenant.
BroadRange, which makes a speciality of servicing the inexperienced power sector, will use a part of the area to distribute photo voltaic panel elements. The agency additionally signed a 1 million-square-foot lease in Fort Pierce, Fla., in a deal that additionally was the biggest within the state year-to-date on the time.
CBRE Senior Vice Presidents Todd Witty and Daniel Shut labored on behalf of the landlords. Senior Affiliate Sam Dragan and Vice Chair James Bolt, in partnership with Strategic Actual Property Companions, represented the tenant.
A completely-leased industrial campus
Accomplished final yr, the 546,000-square-foot Constructing 1 options 106 dock-high loading doorways, 123 trailer stalls and a couple of,522 sq. toes of workplace area. Constructing 3, delivered in 2021, totals 526,000 sq. toes and contains 108 dock loading doorways, 144 trailer spots and a couple of,479 sq. toes of workplace.
Moreover, every cross-dock constructing has 36-foot clear heights and 4 drive-in doorways. The 2 amenities got here on-line with assist from a $42 million mortgage originated by Bell Financial institution and a $30.1 million mortgage from First Nationwide Financial institution of Omaha, CommercialEdge exhibits.
The properties are at 22250 and 22500 E. I-76 Frontage Street, 5 miles from downtown Brighton and inside 25 miles from downtown Denver. As well as, Denver Worldwide Airport is a few 20 miles away.
The four-building 76 Commerce Heart occupies 155 acres. Buildings 4 and 5 got here on-line in 2020 and 2018, respectively, and are totally leased to 5 tenants, together with Walmart and Outrider. The 2 belongings modified fingers in 2022.
Denver’s industrial sector holds regular
Metro Denver’s industrial emptiness price stood at 8.4 p.c as of Could, 280 foundation factors above the nationwide common, in response to a CommercialEdge industrial report. The market’s rents throughout the identical month averaged $8.35, marking a 4.6 p.c development year-over-year.
In January, Silver Level Improvement landed two tenants at its 1 million-square-foot industrial mission in Mead, Colo. Leanin’ Tree and Renee’s Backyard Seeds dedicated to 109,676 and 27,777 sq. toes, respectively, inside Elevation25.
