Principal Asset Management has acquired the 386,000-square-foot Novera Commerce Center in Westminster in a forward sale completed before construction of the industrial project. The three-building development, located at 13900 Huron St., is expected to deliver in the second half of 2027 and targets a broad mix of industrial users in Denver’s North submarket.
CBRE’s Todd Witty and Daniel Close represented Opus Development in the transaction and helped raise equity for the project. Following the sale, Principal Asset Management has retained the same CBRE team to oversee leasing efforts, providing continuity in the marketing strategy as the complex advances toward completion.
The Novera Commerce Center is designed as a multi-building industrial park, with structures ranging from approximately 89,000 square feet to 195,000 square feet. The configuration allows the property to serve tenants as small as roughly 18,700 square feet, giving the park flexibility to meet the needs of both larger and smaller industrial occupiers. This scale and divisibility position the project to appeal to a range of operational footprints.
According to Close, the development can accommodate regional distributors, e-commerce operators, light manufacturers and service-oriented industrial users seeking proximity to the growing northern Colorado population base. The forward sale structure, completed ahead of project delivery, aligns a long-term institutional owner with a modern industrial asset tailored to evolving logistics and production requirements in the region.
Novera Commerce Center benefits from direct access to Interstate 25, enhancing connectivity to the broader Denver area and northern Colorado corridor. The location places future tenants within reach of key consumer and labor pools, while offering transportation efficiencies that are increasingly important for distribution and last-mile operations.
The site is situated within both a Colorado Enterprise Zone and an Opportunity Zone, providing potential state and federal tax advantages for qualifying occupiers and investors. These designations may enhance the project’s competitiveness for tenants evaluating occupancy costs and long-term operating strategies within the Denver industrial market.
With Principal Asset Management in place as owner and CBRE leading leasing, the Novera Commerce Center is positioned to enter the market as a newly built industrial option as it approaches its planned 2027 delivery in Denver’s North submarket.
