DENVER-As GloebSt.com recently reported, United Properties, a developer and investor with offices in Denver, has purchased 38.2 acres from Forest City Stapleton Inc. and broke ground on the first phase of the Enterprise Business Center in Stapleton. The 710,850-square-foot class A industrial development is located near the southwest corner of Interstate 70 and Havana Street in Denver.
“The overall market vacancy for class A modern distribution space for users seeking at least 125,000 square feet is virtually negligible,” says Mike Wafer, an executive managing director at Newmark Grubb Knight Frank. Wafer and Tim D’Angelo serve as the listing agents for the project. “Given this lack of vacancy and our prime location, there is no existing or proposed property that competes with Enterprise Business Center.”
According to Kevin Kelley, vice president/regional director-Colorado, United Properties, “Our first building offers modern, high bay, class A distribution space with ample truck parking in a central location with easy access off Interstate 70.” Kelley echoes Wafer’s point, noting that “No other existing or planned project offers our combination of location, quality and modern design.”
John S. Lehigh, president, Forest City Stapleton Inc., the master developer for Stapleton, says that “In taking advantage of Stapleton’s excellent access to a network of regional highways and the visibility that comes with locating its Enterprise Business Center in one of the nation’s most celebrated, mixed use, urban communities, United Properties has displayed the vision that has made it so successful in creating high quality commercial real estate development.”
United Properties has hired Murray & Stafford as the general contractor for phase one construction. The project team for the first phase also includes architect Ware Malcomb and engineer Jansen Strawn.