In response to demand for Class A industrial accommodations in suburban Denver, Hines has established a strategic partnership with L. C. Fulenwider Inc. for the development of Denali Logistics Park at Box Elder, a 3 million-square-foot industrial complex in the Mile High City’s Airport submarket in Aurora, Colo.
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“The introduction to Fulenwider and resulting partnership was a unique opportunity for us and one we couldn’t let pass us by,” Courtney Schneider, director with Hines told Commercial Property Executive. “This, coupled with the demand from users looking to grow their presence in Denver to serve our growing population make it the right time for this project.”
Part of an Enterprise Zone, Opportunity Zone and Foreign Trade Zone, Denali Logistics will occupy 216 acres at the intersection of Denali St. and 64th Ave. within Box Elder, Fulenwider’s sprawling mixed-use development. The Class A park will feature state-of-the-art industrial space in buildings of various sizes and configurations to meet the needs of users of any size range, including build-to-suit opportunities.
Demand for premier industrial square footage continues unabated in the Denver area, as evidenced by the ongoing upswing in rents to record highs, as noted in a report by JLL, which is spearheading leasing of Denali Logistics. JLL adds that even an overall vacancy rate, 6.8 percent, that rests at its highest level since 2012 has not curbed the appetite for new product. And Hines expects the trend to continue. “We believe the demand will absolutely remain strong post-pandemic, as the pandemic has helped users better understand how to optimize their supply chain and service their customer base,” Schneider said.
Hines and Fulenwider tapped architectural firm Ware Malcomb to mastermind the aesthetics of Denali Logistics. The result will be a campus with a modern industrial design of sleek buildings and a bevy of coveted amenities more often seen in office parks, including covered outdoor seating, access to trails along Second Creek and connection to the mixed-use offerings of Box Elder.
“We take pride in the buildings we design and construct and want our buildings to stand the test of time,” noted Schneider. “Our design and thoughtful amenities, including outdoor seating and sport courts, offer greater workforce satisfaction and tenant interest and overall retention.”