DENVER—Trammell Crow Company has acquired prime commercial infill land located at East 55th Avenue and Washington Street near the I-25/I-70 interstate “crossroads” in unincorporated Adams County and the City of Denver for its new industrial project, Crossroads Commerce Park.

When completed, the park will comprise up to 1 million square feet in multiple buildings. Site work on the project has already commenced and vertical groundbreaking starts next week. The first tranche of land purchased will be developed as speculative industrial buildings equaling 640,000 square feet and a build-to-suit building for a user. Future phases will include individual buildings on a build-to-suit basis for users for sale or lease, Trammell Crow (TCC) says.

Principal Real Estate Investors is TCC's capital partner in Phase I of the Crossroads project, and is very enthusiastic in investing in the Denver industrial market. “We are excited to partner with Trammell Crow Company on this rare, institutionally sized, central Denver industrial site. The central Denver market continues to be tight with around a 2% vacancy rate and we expect leasing velocity to be strong,” said Kevin Anderegg, assistant managing director in asset management with Principal.