Sprint is ranked No. 81 on the Fortune 500 list, with annual revenues of $23 billion.
Ryan Cunningham of Jones Lang LaSalle represented Sprint. He has brokered similar deals for the company throughout the country. This one is worth about $7 million, Hertel says.
Adjacent to the Sprint location is Building No. 22, a 200,000-sf property to open in September. Divisible to 50,000 sf, the property will include 45 dock-high truck doors, and up to 71 trailer parking spaces. In addition, Majestic will break ground this summer on an additional 495,000 sf of industrial space in two other buildings.
"Together, we will have almost 700,000 sf coming on line in phases," Hertel says.
Building No. 23, a 280,000-sf property, and Building No. 24, a 215,000-sf property, will feature 30-foot ceiling clearance, ESFR sprinkler systems, large truck courtyards and maximum dock high loading. Building No. 24 is designed for 20,000 sf to 40,000 sf tenants, allowing for greater diversity and flexibility among the park's tenant base. Both properties are set for completion in late 2001 to early 2002.
Majestic purchased the 1,000-acre park at Tower Road and Interstate 70 in 1995. It's about five miles south of DIA.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
