VanTrust JV Kicks Off Denver Industrial Project
The firm's first Colorado development is scheduled to come online next year.
A joint venture of VanTrust, CP Real Estate Capital and NAI Highland Commercial has started construction on Falcon Commerce Center, a two-building, 363,955-square-foot industrial complex in Monument, Colo., a Denver submarket. This is VanTrust’s first development in the state.
JLL Senior Managing Director Carmon Hicks and NAI Highland Commercial Principal Randy Churchill Dowis will handle leasing efforts. Building B is set to come online in the first quarter of next year, while Building A will deliver the following quarter.
Located at the intersection of Squadron Drive and Old Denver Road, the campus is taking shape some 17 miles from Colorado Springs, Colo., and less than 66 miles southeast from downtown Denver. The metro’s international airport is within 70 miles from the development.
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The 249,633-square-foot, cross-dock Building A will have 32-foot clear heights, 130-foot truck courts, 32 dock-high loading doors—expandable to 52—and four drive-in doors. The facility will also feature 182 car parking spots.
Building B will span 114,322 square feet. The rear-load distribution center will have 28-foot clear heights, 130-foot truck courts, as well as 140 vehicle parking spaces, eight dock loading doors—expandable to 24—and two drive-in doors.
Denver’s industrial inventory set to grow
Denver’s industrial sector had almost 6.8 million square feet under construction as of January, according to the latest CommercialEdge industrial report. The metro’s vacancy rate during the same month clocked in at 10.5 percent, above the 8.0 percent national average.
One of the projects set to come online in the following months is Ryan Cos.’ and PGIM Real Estate’s Northwest Commerce Center. In July the joint venture obtained construction financing for the two-building development that will span more than 343,000 square feet.
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