Colorado-Real-Estate-Journal_375567

Under construction Schnitzer West breaks ground on eight-story 201 Fillmore office bldg. INSIDE Condos for sale West + Main begins sales for Amacon's mixed-use towers 16 6 FEATURED New retail tenants Continuum and CIM Group add six tenants to 9+CO development 18 CONTENTS DECEMBER 6-19, 2023 Office 6 Industrial 12 Multifamily 16 Retail 18 Finance 22 Law & Accounting 26 CDE News 34 Who's News 44 Fully leased Cross Partners purchases Moncrieff Business Center for $10.9 million 12 by Avalon Jacka DENVER – A Denver- based real estate investment firm specializing in self- storage began construction on a 93,000-square-foot self- storage facility near the Uni- versity Park and University Hills neighborhoods. VanWest Partners is developing the site at 2425 S. Colorado Blvd. into Clear- Home Self Storage’s newest location. The project team includes Galloway Archi- tecture as the architect and civil engineer and Waner Construction as the general contractor. ClearHome Self- Storage is VanWest’s verti- cally integrated, in-house operations and management company. The Class A, five-story facility will offer climate- controlled self-storage space with prime visibility and access on South Colo- rado Boulevard, said Jacob Vanderslice, principal at VanWest. Vanderslice said the project will provide a more convenient, higher- quality self-storage option for customers in the sub- market. The modern, state- of-the-art facility will be solar powered, and will fea- ture glass and Kalwall light- ing in a 70-foot-tall build- ing. Customers will be able to access the building and their units with their smart- phones, eliminating the need for physical keys and access codes. The property is within a 3-mile radius of 4,300 planned or under-construc- tion multifamily units in an affluent but densely popu- lated area, Vanderslice said. The high-visibility property is situated along one of the busiest roads in Denver. VanWest purchased the site for ClearHome Self Stor- VanWest breaks ground on self-storage site by Avalon Jacka AURORA – A national grocer signed a long-term lease for a new distribution center near Denver Interna- tional Airport. Whole Foods Market leased 137,000 square feet at HighPoint Elevated indus- trial park, currently under construction. The grocer commissioned a build-to- suit for the entirety of Build- ing 2, located at the intersec- tion of Denali Road and East 60th Avenue, with the pos- sibility for future expansion. The building will be used to distribute products to stores across the region. Park developers Hyde Develop- ment and Mortenson broke ground on the building in October. Delivery is expect- ed for fourth-quarter 2024. Steve Hager of Cushman & Wakefield represented Whole Foods Market in the lease. Todd Witty, Daniel Close, Tyler Carner, Jere- my Ballenger and Jessica Ostermick of CBRE repre- sented the developers. “The Hyde Development- Mortenson partnership was able to shorten the delivery timeline, which was criti- cal to meeting Whole Foods Market’s timing needs,” said Witty. “The team was able to deliver a build-to- suit in the same amount of time it would have taken to retrofit a building built speculatively, ultimately delivering a more efficient and cost-effective building.” The CBRE team is active- ly marketing HighPoint Elevated for lease and sale opportunities with build-to- suit and speculative options available. The project has already attracted several credit tenants, including Xcel Energy, ScottsMiracle- Gro, PrimeSource Building Products and Dollar Gen- eral, which has leased a 919,000-sf distribution cen- ter at the park. Paul Hyde, principal of Hyde Develop- ment, noted Whole Foods Market aligns with the “cali- ber” of tenants that the park has attracted. “These companies have sophisticated warehouse Whole Foods Market inks long-term lease The ClearHome Self Storage – Colorado Boulevard site will include 93,000 square feet of Class A, rent- able self-storage space on five levels. Please see VanWest, Page 21 Please see Whole Foods, Page 21 Calvin Ludwig/4Blades Digital Media Whole Foods Market will lease the entirety of the 137,000-square-foot Building 2 at HighPoint Elevated for a new distribution center.