Newmark Knight Frank (NKF), Hyde Development and M.A. Mortenson Company are pleased to announce nearly 680,000 square feet of leasing and construction activity at 76 Commerce Center–the a 1.7-million-square-foot, Class A industrial park in Brighton, Colorado. The activity comprises a new, 152,682-square-foot lease signed to an undisclosed tenant in Building 4 as well as the 526,400-square-foot groundbreaking of Building 3. The 76 Commerce Center development is a joint venture between Hyde Development and Mortenson.
NKF Senior Managing Director Tim D’Angelo, SIOR; Executive Managing Director Mike Wafer, SIOR and Associate Director Mike Wafer Jr., are the exclusive marketing and leasing representatives of 76 Commerce Center and represented Hyde and Mortenson in the lease transaction. The tenant was represented by Sam Dragan with CBRE.
Building 4, which totals 352,240 square feet, was completed in August. There are nearly 200,000 square feet still available for lease, divisible to 50,000 square feet. The 152,682-square-foot lease is the largest industrial lease this quarter in metro Denver, in terms of square footage. Building 3, which broke ground in September, will measure 526,400 square feet, and will be divisible for between one and four tenant floorplates.
“We have experienced incredible tenant interest in 76 Commerce Center,” said Wafer. “Users are attracted to the development’s location on, visibility from and superior access to the front range via the I-76 corridor; outstanding design with large truck courts and trailer parking; economic opportunities and proximity to a vast labor pool.”
“As the e-commerce industry keeps pace with consumer demand and changing retail behaviors accelerated by COVID-19, the growth of warehouse and industrial real estate has been notable,” commented D’Angelo. “The new building that just broke ground at 76 Commerce Center can accommodate a variety of warehousing, distribution and light manufacturing uses.”
“As construction begins on 76 Commerce Center’s second to last building, we continue to welcome high-quality tenants as the value of the e-commerce, warehousing and industrial sector is reaffirmed by consumer behavior throughout the last few, unprecedented, months,” said Paul Hyde, President of Hyde Development. One 546,000-square-foot building remains yet to be developed in the industrial park–Building 1–and is planned to break ground next year.
The 76 Commerce Center development is a first class, ultra-modern industrial business center with immediate access to Interstate 76 and includes a variety of building types from bulk warehouse to office/warehouse and light manufacturing, with flexible building size options and state-of-the-art building features. It will showcase features including clear heights of 32’ - 36’, 60 mil TPO “cool roofs,” ESFR sprinklers, and significant auto and trailer parking, combined with direct access to I-76 and a mile of frontage. Located in an enterprise zone, 76 Commerce Center also offers quick permitting with PUD zoning in place.