CBRE and J.P. Morgan International Options introduced that two new tenants are becoming a member of Pecos Logistics Park, a 1.15-million-sq.-ft. Class A industrial improvement in Denver, Colorado. The 2 new leases carry the challenge to 54% leased.
Vartega, a recycler of light-weight carbon fiber, leased 50,137 sq. ft. in Constructing 2. Alliant Energy, the nation’s largest distributor of aftermarket diesel engine gasoline techniques and parts, leased 34,737 sq. ft. in Constructing 4.
Tyler Carner and Jeremy Ballenger of CBRE represented the property proprietor, institutional buyers suggested by J.P. Morgan International Options. Alliant Energy was represented by Doug Viseur and Nic Carter, additionally of CBRE. Vartega was represented by Daybreak McCombs and Kevin Hann of Avison Younger.
Building on the 66-acre park was accomplished in August 2022 and contains six speculative buildings and a build-to-suit occupied by PepsiCo Drinks North America.
“The continued robust lease up of Pecos Logistics Park is a results of its infill location on the intersection of three of Denver’s main interstates and the standard of building and facilities obtainable to tenants,” mentioned Mr. Carner, govt vp, CBRE.
Pecos Logistics Park is situated in central Denver on the northwest nook of W 56th Avenue and Pecos Road, steps away from the Pecos Junction mild rail cease. The infill location is 0.5 miles south of I-76, one mile north of I-70 and fewer than two miles from I-25, placing 2 million folks inside 15 miles of the park.
Park facilities embrace 28-32-ft. clear heights, trailer parking, ESFR sprinklers, and not less than 3000 amps of energy per constructing. Distinctive for industrial, the park additionally has shared amenity area with convention/coaching rooms, a kitchen, showers, bike storage and out of doors patio area obtainable for tenant use.
Persistent demand for industrial area in metro Denver netted 2.0 million sq. ft. in leasing exercise within the fourth quarter of 2022, in line with CBRE analysis. This raised the annual quantity to over 11.2 million sq. ft., surpassing the five-year common of 10.7 million sq. ft.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 firm headquartered in Dallas, is the world’s largest industrial actual property providers and funding agency (based mostly on 2021 income). The corporate has greater than 105,000 staff (excluding Turner & Townsend staff) serving shoppers in additional than 100 nations. CBRE serves a various vary of shoppers with an built-in suite of providers, together with amenities, transaction and challenge administration; property administration; funding administration; appraisal and valuation; property leasing; strategic consulting; property gross sales; mortgage providers and improvement providers. Please go to our web site at www.cbre.com.
About J.P. Morgan International Options and J.P. Morgan Asset Administration – Actual Property Americas
J.P. Morgan Asset Administration – Actual Property Americas is the U.S. actual property funding platform of J.P. Morgan International Options. With US$73 billion (Gross Asset Worth as of September 30, 2022) in belongings beneath administration and 180 professionals, the platform provides actual property methods that span from core to opportunistic and throughout debt and fairness. J.P. Morgan International Options is the choice funding arm of J.P. Morgan Asset Administration. With greater than 50 years as an options funding supervisor, US$216 billion in belongings beneath administration and greater than 800 professionals (as of September 30, 2022), J.P. Morgan provides methods throughout the choice funding spectrum together with actual property, non-public fairness, non-public credit score, hedge funds, infrastructure, transportation, timber and liquid options. Working from places of work all through the Americas, Europe and Asia Pacific, our unbiased various funding engines mix specialist data and singular focus with the worldwide attain, huge assets and highly effective infrastructure of J.P. Morgan to assist meet every consumer’s particular targets. For extra data, go to jpmorgan.com/am.