11:30 AM
Newmark Grubb Knight Frank (NGKF), announced the sale of 25.67 acres of land at the 600-acre +/- master planned Verve Innovation Park at Rocky Mountain Metropolitan Airport to SunCap Property Group. The national commercial real estate developer will construct a 225,000-SF build-to-suit distribution center for Federal Express on the site. Urban Frontier, master developer of the technology park, sold the land at 112th and west of Simms to SunCap for $5,032,395. NGKF’s Kittie Hook represented Urban Frontier on the transaction.
Located in unincorporated Jefferson County, Verve Innovation Park has approved zoning for mixed-use, including commercial, office, light industrial and aviation uses. Its proximity to Rocky Mountain Metropolitan Airport and the U.S. 36 corridor creates strong appeal for corporate expansion and technological firms. “Verve Innovation Park’s strategic location is ideal for the planned distribution center, and Federal Express’ commitment allows us to quickly move ahead on the project,” commented Garrett Baum CEO with Urban Frontier, Master Developer for the project.
“We are delighted to welcome FedEx,” said Casey Tighe, chairman of the Jefferson County Board of Commissioners. “The land was formerly a part of Jefferson County’s Rocky Mountain Metropolitan Airport. We feel it is prime property that can be used to bring businesses to this strategic area that will provide much needed jobs for our residents.”
Jefferson County has a development agreement with Urban Frontier to master develop the land into a major office, light industrial and retail hub. County Commissioner Donald Rosier said, “We chose Urban Frontier to develop the technology park in this prime area of our county, near other major corporations and employers. We want to attract world-class companies and are thrilled that FedEx will be the first to break ground.”
“We competed with several other properties in the area and when they saw the great location within the business park, Verve Innovation Park was the preferred site” said Kittie Hook, managing director at NGKF.
Federal Express will join major corporations and employers in Jefferson County including Ball Corporation, National Renewable Energy Laboratory, Trimble Navigation and McKesson Information Solutions.
About Urban Frontier
Urban Frontier, LLC develops and invests in land, retail, office, industrial and residential real estate. With nearly 2,000 acres under control, our projects range from a 1/4 acre infill site for residential development to an 800 acre master planned community. Other projects include: Green Gables, Children’s Hospital, Palisade Park, Windler Homestead and 575 Interlocken.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.