COMMERCE CITY, Colo., January 12, 2021 – Cushman & Wakefield announced today the firm has brokered the sale of two land sites totaling 170 acres on behalf of Schuck Communities along with a subsequent lease for a brand new 1-million-square-foot build-to-suit distribution location for a national home improvement retailer in Commerce City (Denver), Colorado. Becknell Industrial acquired the land and will be developing the facility for the retailer.
The property(s) is located within Nexus at DIA and Nexus North, a master-planned business park located at Tower Rd and East 84th Ave in the eastern Denver suburb. Schuck Communities, a privately held regional real estate company based in Colorado, is the owner of Nexus at DIA and has sold over 400 acres over the past three years in the Nexus at DIA and Nexus North park areas.
The team of Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield Denver handled all three correlating transactions consisting of: the sale of 158 Acres to Becknell Industrial, with Cushman & Wakefield representing the seller, DIA Tech Center, LLC; the sale of 12 Acres to Becknell Industrial, with Cushman & Wakefield representing the seller, Schuck DIA, LLC; and the lease of 1 million square feet to the national home improvement retailer, with CBRE’s Jim Bolt and Mike Camp in collaboration with Drew McManus of Cushman & Wakefield representing the landlord, Becknell Industrial.
Brock Chapman, CEO of Schuck Communities, stated, “The success of the two Nexus project phases has been remarkable. It’s an excellent example of the positive outcome that can be achieved when a quality developer and a progress-oriented municipality, like Commerce City, work closely together to achieve clear objectives. Creating economic growth and new quality jobs was/is the common goal, and cooperation between Commerce City and Schuck Communities has provided just that. While Nexus is serving the interests of high quality, job generating employers in the business park, it is also serving the long-term economic interests of all stakeholders in the region.”
Steve Schuck, Chairman of Schuck Communities, said, “Once Commerce City voted to complete those forward-looking regional public improvements, Schuck Communities and our partner, Chris Thompson, were able to confidently make investments in Nexus and justify the acquisition of additional land necessary to attract yet more major companies pursuing the expansion of their warehouse and distribution facilities, including: McLane Foods, GE / Haier Appliances, and other Fortune 50 global companies whose names cannot be disclosed yet. Lincoln Properties has also completed three buildings totaling 600,000 sf of multi-tenant space currently being leased with significant early interest by users.” “After 50-years in business, Nexus has proven to be one of our most successful projects, and one of which everyone can be proud,” Schuck said.
The location at Nexus at DIA provides easy access to I-70, I-225, E-470 and the Denver International Airport in addition to proximity to an abundant workforce, retail amenities and public transportation. The project is also located among several other major corporate tenants.
CLICK HERE for Nexus aerial site plan
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Schuck Communities
For more than 50 years, Schuck has been a leader in real estate development projects in the western United States, most in the state of Colorado. Company processes, resources, capabilities, reputation, and extensive experience of its team means projects get planned well, sourced properly, and completed successfully. Schuck Communities continually seeks strategic alliances with others who provide complementary strengths in an effort to maximize the value added to real estate investments and development projects. When assessing investment and development opportunities; risk, liquidity, stability, yield, market strength and growth are balanced to optimize financial returns and community enhancement outcomes. Schuck Communities pursues a growing and diversified portfolio of real estate development and investment properties in select western markets. www.schuckcommunties.com
About Becknell Industrial
Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell is available at becknellindustrial.com.