Philip Morris Unit Opens 780 KSF Campus in Metro Denver

Philip Morris International Inc.’s U.S. business, PMI U.S., opened its new $1 billion, 780,000-square-foot manufacturing campus in Aurora, Colo., earlier in July. The facility will produce ZYN brand nicotine pouches.

The asset sits on a 148-acre site, and PMI U.S. said it’s the company’s first greenfield manufacturing complex in the United States, integrating production, packaging, warehousing and distribution operations within a single location.

The $1 billion figure represents total capital expenditures to date. Planned investment between 2024 and 2028 totals about $1.2 billion, including land, advanced manufacturing equipment, infrastructure, facility development and future production capabilities.

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The project was developed using a design-build approach and progressed from shovel to commercial-level shipments in only about 19 months. PMI U.S.’s design-build partner was The Haskell Co.

The facility is located at 25315 E. 48th Ave., between Interstate 70 to the south and Denver International Airport to the north.

Gradual improvement in Denver’s industrial market

Metro Denver’s industrial space market saw a lull in deliveries in the second quarter of 2026, which helped hold overall and direct vacancies flat, according to a report from Cushman & Wakefield. As Class A availabilities decline, leasing activity might increase among second-tier properties.

The Airport submarket has an overall vacancy of 8.3 percent on an inventory of 86.9 million square feet. Year-to-date net absorption was about 743,000 square feet, Cushman & Wakefield reported.

In April, Logistics Property Co. LLC broke ground on Eagle 25 Logistics Center, a three-building industrial campus at the southeast corner of Interstate 25 and E-470 in Thornton, Colo. The park also includes both a build-to-suit opportunity for a fourth building and 60 acres of adjacent land for future development. The project marks Logistics Property Co.’s entry into the Denver market.

And last October, Sagard Real Estate secured a $99.3 million refinancing agreement for 25 North, a 936,775-square-foot Class A industrial campus in Thornton, Colo. Street Capital provided the financing, and JLL Capital Markets represented the borrower.