Denver, CO

3.9 million-square-foot industrial park slated for 316 acres near DIA

Margaret Jackson

https://img.particlenews.com/image.php?url=4aJZLQ_0goCHltL00
(Courtesy of CBRE)

By Margaret Jackson / NewsBreak

(Aurora, Colo.) A joint venture between The Opus Group and Principal Real Estate Investors paid $49.7 million for 316 acres of undeveloped land between Interstate 80 and Denver International Airport.

Opus plans to build a 3.9 million-square-foot industrial park called Sun Empire.

“Our team first identified the potential of this site for industrial development two years ago,” said Todd Witty, senior vice president of CBRE who, along with First Vice President Daniel Close, represented Opus in the deal. “Opus is the perfect leader to bring the site’s vision to life. We worked with them to get the land under contract in a competitive timeframe.

“While there are other large-scale industrial development projects underway in the area, Sun Empire has a competitive advantage in being further along in the entitlement process, thereby expediting the timeline for future tenants.”

Witty and Close will market the project for lease, sale and build-to-suit development.

The first development phase at Sun Empire is scheduled to break ground in the third quarter. It will include two Class A buildings that are 624,094 square feet and 204,859 square feet. Tenant requirements will influence later phases of construction.

The park can accommodate building sizes ranging from 200,000 square feet to 1 million square feet. Each building will include trailer parking and dock and drive-in loading.

https://img.particlenews.com/image.php?url=2wCPJV_0goCHltL00
(Courtesy of CBRE)

“User requirements have become more specialized, with many companies needing large sites for bulk distribution centers that can accommodate a heavy amount of trailer parking,” Close said. “The Sun Empire site provides the utmost flexibility in offering speculative buildings for lease as well as build-to-suit and land sites for sale where the tenant can customize their space.”

Located at East 56th Avenue and Harvest Road in Aurora, Sun Empire is a five-minute drive from Denver International Airport, two minutes from E-470, eight minutes from I-70 and about 25 minutes from downtown Denver.

The airport submarket is the highest performer across all industrial metrics in metro Denver, according to CBRE research. It accounted for 54% of all industrial leasing activity and 41% of positive net absorption. The submarket has recorded nearly 1.3 million square feet of positive net absorption, which is triple any other Denver submarket’s year-to-date figure.

“We were pleased to collaborate with the city of Aurora to bring this business park to life, which will attract new businesses to the area,” said Joe Swensson, director of real estate for Opus. “Opus looks forward to continuing to introduce vibrant new developments in the Denver market.”

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