As seen at Mile High CRE
Further cementing Denver’s reputation as one of the top markets in the country for new development, Confluent Developmentand Invesco Real Estate will break ground next month on a 243,950-square-foot infill industrial campus at the intersection of Interstate 70 and Central Park Boulevard. Named Central Park Business Center, the project will include two Class A buildings, divisible down to approximately 20,000 square feet, with direct interstate visibility.
“Class A buildings with highway frontage and easy access for customers and employees are rare in Denver. The site’s visibility has the potential to drive sales growth for future tenants, while its central location will optimize product distribution,” said John Bauknight, senior development director of Confluent Development.
Located at 9575 East 40th Avenue in Denver, the park is scheduled to break ground in March and to deliver in the fourth quarter of 2021. Building One will consist of 130,900 square feet, divisible to 22,880 square feet. Building Two will total 113,050 square feet, divisible to 19,760 square feet. Both buildings offer a front-park, rear-load design with 60-foot speed bays, dock and drive-in loading and 284 combined parking spaces. The design includes ESFR sprinklers and 28-foot clear heights. Office space can be built to suit.
“Central Park Business Center is ideal for companies who want to be near the city center to best reach the greater metro Denver population. The site offers excellent visibility, perched right along I-70, and new state-of-the-art construction. The buildings could attract a single large user, or the space can be easily divided to accommodate multiple, mid-sized tenants,” said Mr. Bolt, vice chairman, CBRE.
Denver was recently named the 11th top market in the U.S. for new industrial development, according to CBRE’s inaugural U.S. Development Opportunity Index. The report ranked the 50 largest U.S. markets based on construction costs, fundamental strength of existing supply, prior cycle performance and property forecast. Metro Denver’s industrial market fared well in 2020, despite the pandemic, recording its 43red consecutive quarter of positive net absorption. In total, industrial users in metro Denver occupied an incremental 3.4 million square feet of space last year.