4:00 PM
Newmark, Hyde Development and M.A. Mortenson Company are pleased to announce the leasing of 232,615 square feet at building 5, the first completed building at 76 Commerce Center, part of a 1.8 million-square-foot, Class A industrial park in Brighton. The development is a joint venture between Hyde Development and Mortenson.
Building 5, a 266,240-square-foot bulk warehouse building designed by Ware Malcomb, delivered December 2018 and is already 88% leased.
Walmart recently signed a lease for 91,997 square feet at the front of the high-image modern building. Global wastewater and water industry supplier Sigma Corporation also just leased 58,845 square feet. Great Plains Moving & Storage, a 122-year-old Denver logistics company signed a long-term lease, taking 81,773 square feet at the Class A, cross-dock distribution center earlier this year, leaving only 33,625 of rentable square feet available at Building 5.
Newmark’s Tim D’Angelo, SIOR, Mike Wafer, SIOR, and Mike Wafer Jr., are the exclusive marketing and leasing representatives of 76 Commerce Center and represented Hyde and Mortenson in the lease transactions. Sigma Corporation was represented by Tyler Smith, Alec Rhodes and Aaron Valdez with Cushman & Wakefield. Paul Kluck and Murray Platt with CBRE represented Great Plains Moving & Storage.
“Clearly tenants are eager to take advantage of 76 Commerce Center’s location, economic opportunities, proximity to a vast labor pool and superior access to the front range via Interstate-76,” commented Newmark Senior Managing Director Tim D’Angelo. “The I-76 corridor has become a viable alternative to the heavily congested I-70 corridor that will only worsen over years with ongoing widening construction projects.”
“We are thrilled to welcome tenants Walmart, Sigma and Great Plains to the 76 Commerce Center. These high-profile companies recognize the value of 76 Commerce Center’s location” stated Paul Hyde, President of Hyde Development.
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.
“Opportunities at 76 Commerce Center are numerous,” mentioned Newmark Executive Managing Director Mike Wafer. “Building 5 still has space available and Building 4 is breaking ground in late August. We are actively leasing spaces, as well as pursuing sales and build-to-suit prospects on the remaining sites.”
Building 4, also designed by Ware Malcomb and built by Mortenson, will measure 352,240 square feet, divisible to 50,000 square feet and featuring 36’ clear height and 93 dock doors measuring 9’ x 10’ and 4 drive in doors measuring 12’ x 14’.
About Hyde Development
Hyde Development was founded in Minneapolis, Minn. by Mac and Paul Hyde. Hyde is a privately-owned, commercial real estate investment and redevelopment company focused on promoting restoration and reuse of brownfield sites. For more information, visit hyde-development.com.
About Mortenson
Founded in 1954, Mortenson is a U.S.-based, family-owned construction and real estate development company. As one of the nation’s top builders, Mortenson provides a complete range of development and construction services, including site acquisition, financing, planning, program management, preconstruction, general contracting, construction management, design-build and turnkey delivery. Mortenson has operations across North America with offices in Chicago, Denver, Fargo, Iowa City, Milwaukee, Minneapolis, Phoenix, Portland, San Antonio, Seattle, Washington, D.C., and in Canada. For more information, visit mortenson.com.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.