Titan Breaks Ground on Denver Shallow-Bay Project
This development will total 133,000 square feet across two buildings.
Titan Development has broken ground on Compark470, a two-building, shallow-bay industrial property totaling about 133,133 square feet, in the Dove Valley area southeast of Denver. Stream Realty Partners will handle leasing for the project.
The development is slated for completion in the first quarter of next year.
Situated near Compark Boulevard and Chambers Road in Parker, Colo., Compark470 will introduce modern shallow-bay industrial product to the Southeast Denver submarket, according to Stream Realty Partners.
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The development is designed to accommodate a wide range of users, with flexible suite sizes ranging from about 14,500 up to 72,264 square feet, and will be available for sale or lease.
Both buildings will feature 24-foot clear heights, ESFR sprinkler systems, shared truck courts, and 2,000 amps of three-phase power. Each will offer ample loading options with up to 14 dock-high doors and four drive-in doors, along with additional expansion capability.
Compark470 will also feature speculative office suites of about 1,844 square feet per building and building depths of about 165 feet and 180 feet. The resulting layouts will be suitable for aerospace, advanced manufacturing, logistics, distribution and other light industrial users.
The project is Titan’s first industrial development in the Denver market, Titan Partner Joe Iannacone said in a prepared statement.
Compark470’s location provides quick access to such major transportation corridors as Colorado E-470 and Interstate 25, putting tenants within 10 minutes of the Denver Tech Center, about 20 minutes from Denver International Airport and roughly 25 minutes from downtown Denver.
Stream Managing Director Peter Beugg, along with Executive Vice President Dominic DiOrio, will lead leasing efforts for the project.
Titan’s development team includes ARCO Murray as the general contractor, CAGE Civil providing civil engineering services, and GMA Design Group as the project architect.
A return to balance
Metro Denver’s industrial space market in the 5,000-to200,000-square-foot size range is experiencing modestly rising overall vacancy—up to 9.1 percent from 8.1 percent year-over-year—and a somewhat slower leasing velocity, according to a first-quarter report from Matthews.
The average time to lease has increased to 6.6 months, indicating that although demand is there, it is “being expressed more selectively and at a slower pace,” Matthews reports.
Similarly, construction starts are up significantly, to 774,867 square feet, but total space under way is moderating, suggesting that the market is transitioning into a more balanced phase. Importantly for Compark470, Matthews remarks that demand is strongest for smaller and mid-sized assets.
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