Logistics Firm Signs Largest Speculative Industrial Lease in Colorado

Logistics firm Broadrange has signed the biggest speculative industrial lease in Colorado, according to the landlords Hyde Development and their equity partner Mortenson Properties. The long-term arrangement gives it access to a 1.13 million-square-foot space at 76 Commerce Center in Brighton encompassing two buildings.  The features include 36-foot heights, dock-high doors, four garage doors, office space, and trailer parking.

Broadrange, which is known for its footprint in the renewable energy space, plans on using some of the property for distributing solar panel components.

“The expansion of Broadrange at 76 Commerce is a perfect fit for the solar industry, and the growing electric battery-based product industries, providing strong logistics support for the industries’ continued growth,”  Dan Ryan, senior vice president at Mortenson Properties said in a statement.

“We look forward to our partnership with Broadrange for years to come.”

CBRE helped arrange the deal with the tenant and the landlords. Todd Witty and Daniel Close represented the landlords while Sam Dragan and Jim Bolt represented the tenant in partnership with Atlanta-based Strategic Real Estate Partners.

For context on how big the space is, the real estate giant’s total leasing volume was 2.5 million in the second quarter. This deal it arranged with the three parties, represents almost half that amount.

“Broadrange was attracted to 76 Commerce Center for a number of reasons including its location in the affordable city of Brighton, which offers a deep labor pool for companies located in the I-76 corridor,” said CBRE’s Witty.

“The stellar location of this industrial park provides incredible regional access to the entire front range while being 20 minutes away from the heart of Denver.”

In addition, this will be Broadrange’s first Colorado property, which it plans on occupying in September while creating dozens of employment opportunities in the area.