Nuts and bolts are healthy signs of a healthy metro
350-acre master-planned industrial park underway after $18.7M Aurora land buy
Aug 26, 2019 By Andrew Dodson – Reporter, Denver Business Journal
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Attracted by the proximity to Interstate 70 and E-470, plus a host of major road improvements that are in the works nearby, a Kansas City-based real estate development firm closed on land this month for more than half of a 350-acre master-planned industrial park in Aurora that can support about 4.4 million square feet of industrial and mixed-use development.
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I bet it has a name, no?
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NorthPoint Development on Aug. 9 closed on 185 acres at the confluence of I-70, E-470, East Colfax Avenue and Picadilly Road in Aurora for $18.7 million, according to Arapahoe County property records. The deal works out to about $2.33 per square foot. The land will be used as the site for what’s being called the Stafford Logistics Center.
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Who is NorthPoint Development?
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The development firm, which didn’t have any prior investments in Colorado, has developed more than 67.3 million square feet of industrial product since its inception in 2012, mostly focusing on industrial projects. Construction is now underway on Building 1 inside the Stafford Logistics Center.
The 598,500-square-foot spec warehouse building is slated to deliver in the second quarter of 2020.
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Interesting tidbit for those with an extended family.
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Cushman & Wakefield’s Denver industrial team of Aaron Valdez, Tyler Smith and Alec Rhodes represented the seller — a family made up of 11 different owners who inherited the land. That team now represents NorthPoint
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Does anybody want to be 'way out there?'
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The building could theoretically accommodate four tenants, but Valdez expects to sign a full-building user. “Maybe two tenants,” he added. “We can accommodate distribution and light manufacturing groups.”
A pair of road improvement projects was a big draw for the site, Valdez said.
The city of Aurora has been working for more than 10 years to create a new interchange at I-70 and Picadilly Road. The $56.6 million project is expected to unlock a roadway network that can better connect people and business to Denver International Airport and the adjacent Colorado Aerotropolis.
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Courtesy Stafford LogisticsCenter