CBRE announced that it has arranged a lease for Lifetime Windows at Central Park Business Center, a newly completed industrial development in Denver’s Central Park neighborhood. Lifetime Windows will lease 43,401 sq. ft. in one of two buildings delivered in March.
Confluent Development, a Denver-based real estate investment and development firm, serves as the project developer and co-owner alongside Invesco Real Estate, a global real estate investment manager. Jim Bolt, Murray Platt and Todd Witty with CBRE’s Industrial & Logistics practice in Denver are marketing the Class A industrial park for lease.
“We are pleased to welcome Lifetime Windows as the newest tenant at the Central Park Business Center, a company that is not only relocating, but growing its operations and will greatly benefit from the product features we've delivered in Building 1,” said Cadie Crean, development director at Confluent Development. “Our industrial developments are built to enhance our partners' long-term goals, and we look forward to Central Park Business Center serving users who are seeking best-in-class buildings to fit their needs in the current market.”
Lifetime Windows is relocating and expanding its operations with the move to Central Park Business Center’s Building 1. Building 1 totals 132,300 sq. ft. and is divisible to 22,900 sq. ft. Building 2 is 114,300 sq. ft., divisible to 19,800 sq. ft. Both buildings have dock-high and drive-in doors for loading, 28-ft. clear heights, ESFR sprinklers, 2,000 amps of power and around 150 parking spaces in the front of each building.
"Our team is expanding, and this is the perfect space for us to come together to grow and innovate. We are so excited for this opportunity to take Lifetime to the next level," said Peter Svedin, CEO, Lifetime Windows.
Central Park Business Center is located at the intersection of Interstate 70 and Central Park Boulevard with highway frontage visible to approximately 190,000 vehicles per day. The infill location is two minutes from I-70, nine minutes from I-25, 12 minutes from downtown Denver and 15 minutes from Denver International Airport. It is also within walking distance of the Central Park light rail station on the A-Line.
“The demand for high quality industrial buildings in central Denver continues to increase, especially projects with highway visibility and access like Central Park Business Center. The proximity to numerous retail amenities and the distance to downtown Denver is attractive to tenants. The fact the park is 18-percent leased so shortly after delivery reflects the demand we’re seeing,” said Mr. Witty, senior vice president, CBRE.
Industrial construction in metro Denver reached an all-time high last year, with nearly 10 million sq. ft. completed in 2021, according to CBRE research. Yet the appetite for industrial space outpaced the record-high delivery volume. Annual net absorption in Denver grew to 10.7 million sq. ft. in 2021—the highest total ever recorded in the metro area.
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.
About Confluent Development
Confluent Development is a leading full-service real estate investment and development firm that owns and develops ground-up commercial real estate throughout the United States. Confluent Development is an industry expert with more than 25 years of experience across diverse product types including office, retail, industrial, senior housing and multi-family developments. For more information, visit ConfluentDev.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $91.8 billion in real estate assets under management, 582 employees and 21 regional offices across the U.S., Europe and Asia (as of December 31, 2021). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com.