{"id":1004699911,"date":"2024-01-29T08:35:38","date_gmt":"2024-01-29T16:35:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004699911"},"modified":"2024-01-29T08:35:40","modified_gmt":"2024-01-29T16:35:40","slug":"silver-point-lands-two-tenants-at-denver-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/silver-point-lands-two-tenants-at-denver-industrial-park\/","title":{"rendered":"Silver Point Lands Two Tenants at Denver Industrial Park"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1c6f8864684&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004699920\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/silver-point-lands-two-tenants-at-denver-industrial-park\/elevation25-avison-young-img\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/elevation25-avison-young-img-e1706528954895.jpg\" data-orig-size=\"460,345\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;VIEWFINDER PHOTOGRAPHY 2023&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"elevation25 avison young img\" data-image-description=\"&lt;p&gt;Elevation25 Phase I&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Elevation25 Phase I. Image courtesy of Avison Young&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/elevation25-avison-young-img-e1706528954895.jpg?w=460\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/elevation25-avison-young-img-e1706528954895.jpg?w=300\" alt=\"Elevation25's first phase.\" class=\"wp-image-1004699920\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/elevation25-avison-young-img-e1706528954895.jpg 460w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/elevation25-avison-young-img-e1706528954895.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Silver Point will continue to own and manage Elevation25&#8217;s completed two buildings, while the remaining 54 acres were sold to Mark IV Capital.<em> Image courtesy of Avison Young<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Silver Point Development <\/strong>has signed two leasing agreements totaling 137,453 square feet at its two-building Class A industrial project in Mead, Colo., in Denver&#8217;s Greeley submarket. The two tenants are<strong> Leanin<\/strong>\u2019 <strong>Tree<\/strong>\u2014for 109,676 square feet\u2014and <strong>Renee\u2019s Garden Seeds<\/strong>\u2014for 27,777 square feet. <strong>Avison Young<\/strong> negotiated the agreement on behalf of the landlord.<\/p>\n\n\n\n<p>Elevation25 is an industrial park, currently under development and planned to include seven more buildings. The leasing agreements brought the first two buildings\u2014completed in October last year\u2014to full occupancy. <\/p>\n\n\n\n<p>Located at 4460 Elevation Drive, Building I totals 94,076 square feet and features ample column spacing, 28-foot clear heights, speed bays, 26 dock-high doors, four drive-in doors and 145 vehicle parking spots. Renee\u2019s Garden Seed will occupy space here, joining the roster that also includes M&amp;M Thrift Management Co. and Premier Manufacturing and Supply Chain Services Inc. <\/p>\n\n\n\n<p>Building II is at 4480 Elevation Drive and comprises 109,676 square feet. Its features include 28-foot clear heights, speed bays, four drive-in doors, 26 dock-high doors and 166 vehicle parking spots. Leanin\u2019 Tree will fully occupy this building. <\/p>\n\n\n\n<p>The developer financed this first phase of development with a $23.1 million construction loan from CIBC Bank USA, according to CommercialEdge.<\/p>\n\n\n\n<p>The properties are situated on a 12-acre lot, providing easy access to the I-25 Corridor and are located 24 miles from Boulder, Colo., 32 miles from Denver and 38 miles from Denver International Airport. Avison Young\u2019s team of Principal Dawn McCombs and Associate Ryan Almaleh are the exclusive leasing agents for Elevation25.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-speculative-development\">A speculative development<\/h2>\n\n\n\n<p>Elevation25 is planned to total 1 million square feet and is the only high-bay speculative industrial project in the I-25 Corridor area. Weld County has attracted significant companies in recent years and its population is expected to grow with 30 percent in the next five years, according to Avison Young. Other industrial users near Elevation25 include FedEx, Weatherford, McLane Co., UPS and Home Depot.<\/p>\n\n\n\n<p>Silver Point Development commenced construction in early 2022. Its first phase initially included a five-building project totaling 578,240 square feet on 37 acres, while the second phase was expected to include four building on 36 acres, totaling 422,000 square feet, according to local authorities. In December 2023 the developer sold 54 acres\u2014slated to include the remaining seven building\u2014to Mark IV Capital. Silver Point Development will continue to own and operate the first two buildings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Recent developments in Denver&#8217;s industrial pipeline<\/h2>\n\n\n\n<p>Denver had 8.1 million square feet of industrial space underway as of December, a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/transformative-shifts-a-recap-of-2023-in-the-dynamic-industrial-sector\/\">CommercialEdge report<\/a> shows. Among Western markets, Denver placed third in terms of new space under construction, behind Phoenix (42.5 million square feet) and the Inland Empire (19.4 million square feet).<\/p>\n\n\n\n<p>Significant developments in the metro include <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-denver-industrial-park\/\">Hines&#8217; Quantum 56<\/a>, a Class A six-building industrial park that will bring 868,360 square feet of space in North Central Denver. In joint venture with EnviroFinance Group, the developer commenced construction in August last year. JLL has been tapped as exclusive leasing agent.<\/p>\n\n\n\n<p>In May, LaPour Partners received City Council&#8217;s approval for the <a href=\"https:\/\/www.commercialsearch.com\/news\/lapour-partners-to-develop-denver-area-industrial-park\/\">development of Arista 36<\/a>, a 359,800-square-foot industrial campus in Broomfield, Colo. The three-building project will be marketed for lease by Stream Realty Partners, with completion scheduled for 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avison Young negotiated on behalf of the owner.<\/p>\n","protected":false},"author":2991,"featured_media":1004699920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1587,21748,21742,15],"tags":[33022,44945,52306],"class_list":["post-1004699911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-denver","category-industrial","category-latest","category-west","tag-avison-young","tag-cibc-bank","tag-silver-point-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Silver Point Lands Two Tenants at Denver Industrial Park - 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