Lincoln Property Secures $77M for Denver Industrial Project
Upon completion, the development will span more than 450,000 square feet.
Lincoln Property Co. has secured $77.1 million in construction financing for a 466,000-square-foot industrial project taking shape in Commerce City, Colo., a Denver suburb.
JLL Capital Markets arranged the financing, which included a construction loan from First Horizon Bank and joint venture equity from a confidential partner.
The new development, known as Commerce Yards, is set to break ground in April 2026 and include three low-coverage warehouses across 46 acres. The project is slated for completion by May 2027. Building sizes range from 113,000 to 200,000 square feet, with clear heights between 28 and 32 feet.
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The facilities will also feature rear-load configurations and 4,000 amps of power. Additionally, the project will include 14 acres for outdoor storage space. Target tenants include companies in the construction, logistics and distribution, machinery, as well as energy and utilities sectors.
JLL Capital Markets’ Peter Merrion, senior managing director; Rob Key, director; Will Mogk, senior director; and senior managing directors Leon McBroom and Jim Curtin facilitated the transaction.
The property is being constructed at 9401 Heinz Way in Henderson, an unincorporated community within the Commerce City area. The construction site is within 11 miles from Denver International Airport. Major thoroughfares such as Interstate 76, Interstate 25 and Interstate 270 are also nearby.
Investment activity ticks up in Denver
In 2025, leasing volume remained healthy at 10.5 million square feet, according to CBRE. The fourth quarter was the strongest, with 2.9 million square feet of leasing activity. Industrial sales totaled $575 million for the fourth quarter of 2025 and $2.2 billion for the year. This represents a 17.8 percent increase for the quarter and a 40.6 percent increase year-over-year.
For example, in October 2025, the Denver Business Center & Upland Distribution Portfolio traded in the largest Denver industrial sale since 2022. Harrison Properties purchased the 1.6 million-square-foot portfolio, which includes 16 shallow-bay warehouses.
The month prior, Westcore Properties sold two assets totaling 663,416 square feet located in Denver and Salt Lake City. Hyde Development and Mortenson Properties purchased the assets, paying $48.2 million for the Denver property known as Potomac Park I and II.
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