New Co-Warehousing Concept Coming to Denver Following Acquisition of Property Arranged by CBRE

CBRE announced that FlexHQ has acquired a property in Denver to serve as the first Colorado outpost of its industrial co-working brand. The company acquires traditional warehouses and turns them into adaptable co-warehousing units with shared creative office space.

CBRE’s Tyler Carner, Jeremy Ballenger and Jessica Ostermick represented FlexHQ in the acquisition. Bill Thompson and Mike Camp, also with CBRE, represented the seller.

FlexHQ paid $10.8 million for the property located at 5180 Fox St. The 76,000-sq.-ft. building is primarily warehouse space with 6,200 sq. ft. of office. It is located in central Denver just west of Interstate 25, less than one mile north of the intersection with Interstate 70.

“It was important to FlexHQ to select a location easily accessible to metro Denver’s growing population. As expectations move toward quicker delivery times, more companies are looking to hold their inventory closer to the end customer,” said Carner, executive vice president, CBRE.

FlexHQ plans to renovate the office space at 5180 Fox St. into a co-working layout with shared and private desks, conference rooms, call booths, copying/printing services, and a communal kitchen. The warehouse space will be partitioned into rentable units ranging from 300 to 3,000 sq. ft.

“FlexHQ meets a specific need for businesses that require more sophisticated logistics support than self-storage without the long-term commitment of traditional warehouses. We offer tenants flexibility, amenities and convenience in targeted locations. Denver is home to a growing population not easily served by another large metro area, and we view it as an essential market in our national growth strategy,” said Laurent Opman, co-founder of FlexHQ.

FlexHQ is focusing its expansion on major metro areas with high demand for last-mile delivery and low availability of existing warehouse space. Driven by demand and sustained leasing activity, metro Denver’s industrial availability declined to 6.5% in the second quarter of 2022, according to CBRE research. This is down 220 basis points year-over-year and is approaching the lowest rate of the past 20 years, which was 6.4% availability in 2014.

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.