This Week's Denver Deal Sheet
LaPour Partners and Mar-Gulf Management Inc. broke ground on Creekside Centennial Tech Center, a 63K SF shallow-bay industrial project. Construction is expected to complete in the first quarter of 2025.
The project is at 6403 S. Uvalda St. and will feature Class-A industrial space for sale or lease. When complete, the facility will include 24-foot clear heights, eight dock doors, eight drive-in doors, 2,500 amps of power and a parking ratio of 3 per 1K SF.
“The current vacancy for functional properties in the Southeast submarket, which have the ability to accommodate tenant suites under 10,000 square feet, is approximately 2.5%. This project will be critical for the growth and sustainability of smaller businesses in the Southeast Denver submarket” Peter Beugg of Stream Realty said in a release. Beugg is marketing the property.
CONSTRUCTION AND DEVELOPMENT
The Denver South Platte River Committee voted Tuesday to advance items related to the proposed redevelopment around Ball Arena. In exchange for an exemption to the building height limits in the area, Ball Arena owner Kroenke Sports and Entertainment agreed to promise to keep the Denver Nuggets and the Colorado Avalanche in Denver through at least 2050, the Denver Business Journal reported.
The redevelopment of the 64-acre site could include millions of square feet of new office, retail and residential space. The matter will now go before the Denver City Council.
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Evergreen Devco broke ground on an industrial project in Commerce City.
The 6.9-acre site at 8705 Rosemary St. has been rezoned and will soon feature a 54K SF grade-level industrial building with a three-acre outdoor storage yard.
Evergreen started its industrial development platform in 2021 with an initial focus on the Denver and Phoenix markets. It purchased the Commerce City property in January for $3.5M.
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Ten Colorado airports have received nearly $100M in funding from the Federal Aviation Administration to improve airport infrastructure across the state.
This funding includes:
- $34.7M for the Grand Junction Regional Airport
- $14.4M for the Colorado Springs Municipal Airport
- $10M for Denver International Airport
- $5.5M for Rocky Mountain Metropolitan Airport in Broomfield
- $5M for Centennial Airport in Englewood
The funding was made available via the FAA’s Airport Improvement Program and the Bipartisan Infrastructure Law as well as discretionary supplemental grant funding.
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Core Spaces broke ground on Oxenfree Commerce City, a 269-unit single-family rental project in Commerce City. The development’s first homes will come online in spring 2026.
The community, at 9940 E. 112 Ave., will feature a mixture of single-family detached units and townhomes, totaling 442K SF of rentable space.
PEOPLE
Savills added Pete Palumbo and Matt Burton to its Denver office. Palumbo, a 25-year industry veteran, will serve as senior director of project management, while Burton will join as managing director with a focus on the industrial sector.
Palumbo has worked across the real estate, construction and architecture sectors. He joins the firm from Charter Communications, where he was responsible for the strategic direction of that company’s real estate.
Burton joins Savills from Ryder Systems Inc. where he was associate real estate portfolio manager. Previously, he held the role as senior vice president of industrial services at Cresa where he spent eight years representing occupiers in Denver and throughout the country.
