DENVER (September 30, 2020) – Stream Realty Partners (Stream), a national real estate services, development, and investment company, announced today that it has executed a lease at Colorado Logistics Park in Commerce City with Border States Electric, an electrical supplier to construction, industrial, and utility customers. The 82,000-square-foot lease demonstrates a growing trend of tenant demand in Denver’s Northeast industrial submarket, specifically along the I-76 corridor, as it offers compelling transportation, economic, and workforce advantages.
Stream’s Tyler Reed SIOR, Peter Beugg SIOR, and Dominic DiOrio SIOR represented the landlords, Brennan Investment Group and New York Life Real Estate Investors.
Colorado Logistics Park is located along the I-76 corridor at E 112th Avenue and Highway 85 in Northeast Denver. The I-76 corridor has recently emerged as a sought-after industrial submarket in Metro Denver, with its ample labor supply, fast-growing population, and proximity to major transportation arteries. A key attractor to the area for tenants has been the advantage of avoiding I-70 congestion, which significantly reduces transportation costs and provides faster delivery and drive times.
“Tenants are showing increasing interest in the I-76 corridor as a distribution hub to the Rocky Mountain region,” said Dominic DiOrio, Vice President of Industrial Services in Denver. “Colorado Logistics Park provides tenants with a competitive opportunity to locate in this rising submarket, while increasing the stability and predictability of their end-user delivery and adding efficiencies and savings to their overall logistics.”
After signing the lease with Border States Electric, Colorado Logistics Park’s Phase 1 of development is 21% pre-leased and is expected to deliver in third quarter 2020. An additional 396,311 square feet is planned for Phase 2 of the project.