Conor Commercial and WHI Real Estate Partners Close on Class A Development
WESTMINSTER, CO Conor Commercial Real Estate, a national real estate developer and member of The McShane Companies, and WHI Real Estate Partners L.P., announce the acquisition of a prominent 26-acre infill parcel for the development of Park 12 Hundred Tech Center, a 324,000-square-foot planned industrial project. Located within the Park 12 Hundred mixed-use business park in Westminster, Colorado, the site currently serves as three underutilized parking lots that will be redeveloped into four modern and highly functional Class A buildings meeting the needs of today's industrial users.
Situated off of the southwest corner of West 120th Avenue and Huron Street, the centrally-located site is just 15 minutes away from downtown Denver, Colorado, and offers convenient access to major transportation corridors including I-25, I-76, Highway 36 and E-470. The established business park, which is nestled within a desirable neighborhood, is the ideal backdrop for users seeking close proximity to numerous dining, retail and entertainment amenities within a one-mile radius. Adjacent to RTD's third largest Park-n-Ride and featuring pedestrian connectivity to the local trail system, the site is surrounded by educational facilities, a skilled and readily available work force, and a diverse selection of housing.
Current plans for Park 12 Hundred Tech Center include four rear-loaded industrial buildings carefully configured to support the requirements of tech-centric industrial, light manufacturing, and R&D users within single or multi-tenant layouts. As planned, Building 1 would be a 172,200-square-foot facility with a 30-foot clear height, 36 dock-high doors, four grade level doors and a 1.8/1,000 parking ratio. Buildings 2 and 3 are currently designed to the same specifications of 58,500 square feet, 24-foot clear heights, four dock-high and 22 grade level doors with a 3.0/1,000 parking ratio. Devised specifically to accommodate a single user, Building 4 would feature 35,000 square feet, a 24-foot clear height, one dock-high door, 12 grade level doors, and a 1.0/1,000 parking ratio. All four buildings would incorporate ESFR sprinkler systems, flexible office space for varying tenant requirements, and sizable truck courts for optimal maneuverability.
Each building will feature an attractive architectural design and color scheme that purposefully complements the surrounding business park for a cohesive look. The development will be constructed of painted tilt concrete panels incorporating reveals and form liner panels adding textural elements and enhancing the overall aesthetic. Contemporary storefront windows will highlight the entryway of each building serving as a unique focal point.
"Our committed partnership with WHI Real Estate and demonstrated experience throughout the country will support a seamless redevelopment process of this underutilized site into a desirable Class A property serving a growing number of businesses looking to maximize on the benefits that the Northwest submarket has to offer," said Sven Tustin, Vice President of Conor Commercial Real Estate.
McShane Construction Company and Ware Malcomb are providing the design/build construction services for the project. Dave Lee and Jason Addlesperger of Newmark Grubb Knight Frank represented the land seller while Chris Ball and Joe Krahn of the Denver office of Cushman & Wakefield represented the buyer and will serve as the exclusive marketing agents for the development.
The partnership currently plans to break ground on the Park 12 Hundred Tech Center in March 2017 with completion and occupancy in January 2018.