Hyde Development JV Plans $172M Dollar General Facility

The Dollar General facility at HighPoint Elevated. Rendering courtesy of Ware Malcomb

Dollar General has purchased 75 acres at HighPoint Elevated industrial and logistics park in Aurora, Colo. Hyde Development and Mortenson, the park’s development team, are slated to build a 919,000-square-foot Class A distribution facility for Dollar General on this recently acquired site. CBRE represented the seller, Hyde Development, in the transaction.

The project is part of Dollar General’s three distribution center expansion plan in Colorado, Arkansas and Oregon. The company intends to invest $172 million in the Aurora facility, which, at full capacity, is expected to create 400 jobs. The Dollar General development, the first build-to-suit commissioned at the industrial park, is planned to break ground this summer and come online in late 2023.

A three economic benefit zone northeast of Denver

Upon completion, HighPoint Elevated is expected to include roughly 5.5 million square feet of industrial and logistics space. Its first building is already under construction and is scheduled for completion this summer. It totals 542,000 square feet and is currently 37 percent leased. It has 36-foot clear heights, 50-by-54-foot column spacing, an ESFR sprinkler system, dock-high and drive-in loading as well as trailer parking.

Additional buildings at the industrial park are planned to range from 64,000 square feet to 1 million square feet, with at least one building slated for cold storage. Outdoor storage will also be available at multiple sites throughout the park. HighPoint Elevated will also offer retail space, as well as walkable retail options for tenants and visitors with outdoor seating areas.

The industrial park is located at the southeast corner of the East 64th Avenue and E-470 intersection, some 5 miles southwest of Denver International Airport and roughly 21 miles northeast of downtown Denver, within three economic benefit zones: a federal Opportunity Zone, an Adams County Enterprise Zone, as well as a Limon Foreign Trade Zone. There are also plans to widen East 64th Avenue to four lanes at the park and add a full interchange at the intersection of East 64th and E-470, giving tenants the option to bypass Interstate 70 in order to reach both Denver’s northern and southern suburbs.

Daniel Close, Todd Witty, Tyler Carner, Jeremy Ballenger and Jessica Ostermick are part of the team that worked on behalf of Hyde Development in the site sale and that is also marketing HighPoint Elevated for lease and sale opportunities.

In April, a joint venture between Invesco and EverWest secured $101.3 million in financing for another major industrial development in a Denver suburb. The 936,775-square-foot 25 North is now being built in Thornton, Colo.