CBRE announced that Access 25 Logistics Park, a 300-acre industrial park under construction in Mead, Colo., launched its first speculative building. The innovative, new logistics park by Broe Real Estate Group (BREG) will bring 3 million sq. ft. of dual-rail-served warehouse and distribution space to northern metro Denver. It is the only industrial park within the greater metro area with access to two Class I rail lines.
BREG awarded the leasing assignment for Access 25 to CBRE. CBRE’s Daniel Close, Mike Eyer and Tyler Carner are marketing the project for lease, build-to-suit and speculative construction. The dual rail service is provided by BREG’s rail affiliate, OmniTRAX, and connects to BSNF Railway Company and the Union Pacific railway.
“Dual-rail service is extremely rare in Colorado. It provides an advantage for any company moving substantial cargo as it is more cost effective than single service and offers access to more routes and destinations,” said Mr. Close, first vice president, CBRE.
Leasing at Access 25 is already off to a strong start. Earlier this year, a national tenant committed to a 386,000-sq.-ft. build-to-suit lease at the project. The just-launched spec building will deliver another 120,250 sq. ft. in the fourth quarter of 2022. The spec building is divisible to 20,000 sq. ft. with the option to incorporate office space in addition to warehouse and distribution space. The building will have a 32-ft. clear height, 52-ft. by 52-ft. column spacing, 32 dock high and drive-in doors for loading, 60-ft. speed bays, ESFR sprinklers and 2,000 amps of power. Outdoor storage space is also available throughout the park.
Access 25 is named for its proximity to Interstate 25. The site is located near the intersection of I-25 and CR 34 in Weld County, the fastest-growing county in Colorado over the past decade, according to U.S. Census Bureau data.
“Access 25 provides shovel-ready developments that unlock immediate rail access to greater Denver and the Rocky Mountain region rather than waiting two or three years for projects that are still in the planning phase,” said BREG Executive Vice President Reagan Shanley.
Industrial space is seeing record levels of demand across metro Denver. Annual net absorption reached 10.7 million sq. ft. at the end of 2021, the highest total ever recorded in the metro area, according to CBRE research. The annual total was three times the absorption posted in 2020 and nearly double the previous record of 5.5 million sq. ft. absorbed in 2006.
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 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend 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.