Becknell Industrial Acquires 170 Acres in Denver Suburb
The company purchased the two land sites from Schuck Communities and plans to develop a one-million-square-foot, built-to-suit distribution facility for a national home improvement retailer.
DENVER, CO – Becknell Industrial has acquired two land sites totaling 170 acres in the Denver suburb of Commerce City, CO. Within the space, the firm plans to develop a new, one-million-square-foot, built-to-suit distribution facility.
Cushman & Wakefield worked on behalf of the seller, the privately-held regional real estate company, Schuck Communities, to broker the sale of the two sites. In addition, Cushman & Wakefield secured a one-million-square-foot lease for the new distribution facility to a national home improvement retailer.
The two properties are located within the master-planned business park, Nexus, which is owned by Schuck Communities.
Cushman & Wakefield’s Denver team of Drew McManus, Bryan Fry and Ryan Searle handled each of the three correlating transactions, including the sale of 158 acres of land from DIA Tech Center LLC, the sale of 12 acres of land from Schuck DIA LCC, and the one-million-square-foot lease to a national home improvement retailer, on behalf of the development’s landlord, Becknell Industrial.
For the new facility’s lease agreement, the property’s landlord, Becknell Industrial was represented by CBRE’s Jim Bolt and Mike Camp, in collaboration with Cushman & Wakefield managing director, Drew McManus.
“The success of the two project phases has been remarkable,” states Brock Chapman, CEO of Schuck Communities. “It’s an excellent example of the positive outcome that can be achieved when a quality developer and a progress-oriented municipality, like Commerce City, work closely together to achieve clear objectives.”
Chapman adds, “Creating economic growth and new quality jobs was/is the common goal, and cooperation between Commerce City and Schuck Communities has provided just that. While the location is serving the interests of high quality, job generating employers in the business park, it is also serving the long-term economic interests of all stakeholders in the region.”
Schuck Communities, along with its partner, Chris Thompson, has now sold more than 400 acres in the business park, within the past three years.
“This was a complex multi-transaction with many moving parts requiring all parties involved to work cohesively together to bring to successful fruition, all amidst the pandemic,” says McManus. “We are delighted to see this new exciting development get started that will deliver a meaningful industrial project with a high-quality tenant for the Denver metro area.”