Article cited from MileHighCRE
Joint venture Stockbridge Capital Group and Lincoln Property Company have acquired Park 36, a 20-acre site in Broomfield. The site features a newly constructed 139,876-square-foot Class A industrial warehouse building and the joint venture plans to add two additional warehouse buildings totaling 134,400-square-feet. Financial terms of the acquisition were undisclosed.
Building 1 features a front park rear load design with storefront glass, dock high and drive-in loading, and 32-foot clear height. Construction on Building 2 & Building 3 will begin in Q4 2021. Both buildings will be 67,200-square-feet and also feature a front park rear load design, dock high and drive-in loading, and 32-foot clear height. Upon completion, Park 36 will offer high parking ratios, ample power, and pre-leasing build-to-suit options.
“We are very excited about the opportunity to acquire a first-class building, with surplus land to develop two additional buildings in the supply constrained US 36 corridor,” said Mark Dwyer, vice president with Lincoln Property Company. “Lincoln has been actively seeking development opportunities in the Denver market. Park 36 appealed to us because of its location and ability to attract a high-quality tenant base from Boulder and Denver.
Park 36 sits just minutes from Northwest Parkway, Highway 287, and the Denver Boulder Turnpike/US 36, which proves easy access to Boulder, Denver, and the Denver International Airport. For additional distribution options, there is a rail-line located only 20-minutes from the site. Given the ease of access to Park 36, tenants can reach an abundant workforce of nearly 230,000 people within a 10-mile radius.