LaPour Partners to Develop Denver-Area Industrial Park – What is a Ground Lease?

 Denver, Development, Industrial, News, West, Stream Realty Partners 

LaPour Partners is one step closer to starting construction on Arista 36, a 359,800-square-foot industrial park in Broomfield, Colo. The developer has received the City Council’s approval for the development of the three-building project located on a 29.2-acre lot in the Northwest submarket. Groundbreaking is set for September of this year, with completion anticipated in 2025.

Arista 36 will come online at 11210-11250 Wadsworth Parkway. The three facilities, ranging from 75,600 to 150,000 square feet, will feature 28-foot clear heights and a total of 104 dock-high doors and 12 drive-in doors. Amenities will include 48 electric vehicle charging stations, bike racks, walking and biking trails and two community gathering areas with seating.

READ ALSO: How Debt Costs Will Affect Industrial Demand This Year

All buildings will cater to different uses such as manufacturing, distribution, life sciences, research and development and assembly. A 185-foot truck court will be shared between Building One and Building Two. Stream Realty Partners’ Tyler Reed, executive managing director, Peter Beugg, managing director, Dominic DiOrio, executive vice president, and Buzz Miller, senior associate, will serve as Arista 36’s leasing brokers.

Interstate 25 and the Northwest Parkway connect Arista 36 to major transportation routes leading to Denver and the Denver International Airport. The Rocky Mountain Metropolitan Airport is less than 3 miles away, while the nearby RTD Broomfield Station offers easy commuting. Brands including Google, Honeywell, Ball Corp., Lockheed Martin, Cisco, Century Link and Oracle are in proximity to the property.

A glimpse into the Denver industrial scene

Some 12.7 million square feet of industrial space were under construction in metro Denver at the end of March, representing 5.1 percent of total stock, according to a recent CommercialEdge report. However, the metro’s vacancy rate of 7.2 percent was nearly double the one recorded on a national level (3.9 percent).

One of the current developments will total 1.2 million square feet at full build-out. Trammell Crow and Clarion Partners completed the 571,000-square-foot first phase of the Commerce City, Colo., project in March.

In Denver’s North Central submarket an industrial asset recently traded hands for $39.6 million. At the time of the project’s completion it beat the record for the fastest lease-up of a speculative development in Central Denver.

The post LaPour Partners to Develop Denver-Area Industrial Park appeared first on Commercial Property Executive.

 Completion is expected in early 2025.
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In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.

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