CBRE has negotiated a 594,138-square-foot industrial lease on behalf of Alan Ritchey, Inc. (ARI) at Stafford Logistics Center in Aurora, Colo.
Bill Thompson with CBRE represented ARI, a Texas-based multi-industry company that provides services to the government, industrial, agriculture, energy and transportation sectors, in the lease negotiations. The landlord is NorthPoint Development, LLC.
ARI will occupy Building 1, a newly constructed speculative industrial building, in October 2021. This transaction marks the largest lease at a speculative property in the Denver metro since the first quarter of 2020.
“Recently, ARI won a long-term contract with the United State Postal Service to handle overflow mail and packages, creating an urgent need for a large space to serve the Denver market properly,” said Mr. Thompson, Senior Vice President, CBRE. “Although there are record levels of new speculative industrial construction in Denver, there were few choices of this size available for immediate occupancy. The NorthPoint team, in conjunction with the leasing team, were very accommodating in meeting the tenant’s needs, particularly the need for quick occupancy.”
Located at 20500 East Colfax Avenue, the property features 60 dock high doors, four drive-in doors/ramps, 36-foot clear height and ESFR sprinklers. It offers immediate access to Interstate-70 and E-470, and is nearby Denver International Airport.
According to CBRE Research, the vacancy rate in Denver’s Airport submarket was 5.8 percent at the end of Q2 2021, below Metro Denver’s overall vacancy of 6.9 percent.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.