Broadrange, a third-party logistics firm, has recently secured a long-term lease for 1.1 million square feet at Colorado’s 76 Commerce Center. This marks the largest speculative lease ever completed in the state of Colorado and is a testament to the thriving commercial real estate market in this region.
The impressive development was made possible by Mortenson Properties and Hyde Development on their 155-acre site located near I-76 frontage road in Brighton. The project includes four buildings totaling 1.7 million square feet.
Specializing in servicing the green energy sector, Broadrange will occupy two of these buildings with plans to use part of their space for distributing solar panel components. This move marks their first location in Colorado as they prepare to begin operations by September 2024.
CBRE played an integral role as they represented both landlords – Hyde Development and equity partner Mortenson Properties – as well as tenant Broadrange during negotiations for this significant transaction. The team included Todd Witty, Daniel Close, Sam Dragan and Jim Bolt who worked closely with Atlanta-based Strategic Real Estate Partners on behalf of Broadrange.
Denver-Area Logistics Tenant Leases Impressive Amount of Space
A major player within the third-party logistics industry has recently signed a substantial long-term lease agreement at one of Denver’s most sought-after locations: Colorado’s expansive 76 Commerce Center which spans over an impressive area measuring more than one million square feet! CBRE played an essential role throughout all stages involved including representing both parties (landlords & tenants) during negotiations that resulted into what is now known today; namely being referred-to-as “the largest speculative leasing deal ever recorded” within all areas surrounding Denver itself!
Behind-the-scenes efforts were carried-out courtesy-of various key players such-as Mortenson Properties & Hyde Development who together managed-to develop what can only be described-as nothing short-of phenomenal; given its sheer size alone (over fifteen acres!) not-to-mention its strategic location adjacent to the I-76 frontage road in Brighton. The entire project is comprised of four buildings totaling a staggering 1.7 million square feet!
Broadrange, who specialize in providing services specifically tailored for those within the green energy sector have taken-up two of these impressive buildings with plans already underway to utilize part-of-their space solely for distributing solar panel components; this will be their first-ever Colorado-based location and they’re set-to begin operations by September 2024.
CBRE’s team consisting-of Todd Witty, Daniel Close & Sam Dragan (amongst others) represented both landlords Hyde Development & Mortenson Properties as well-as tenant Broadrange throughout all negotiations which ultimately led to finalizing what has now become one of Denver’s most talked-about leasing deals!
