Gates Rubber Co. Puts 50-Acre Industrial Tract on Market

DENVER-The Gates Rubber Co. hopes to sell a 50-acre industrial site at South Broadway and Interstate 25, about two miles south of the CBD.

Developers are expressing interest in the site, which contains a dozen buildings that have been built between 1916 and the 1960s, says David Kimberly, who heads Gates’ corporate real estate. The site includes 2.3 million sf of buildings. Gates would like to lease back 200,000 sf to 400,000 sf of the industrial space for its workforce, which mostly is engaged in research and development.

Real estate experts believe the development could fetch in the neighborhood of $100 million. Kimberly says he isn’t putting a minimum price tag on the property because he doesn’t want to influence the bidding. Experts believe the land is prime material for a $1-billion plus mix of office, housing and retail development. It is the third largest available tract in Denver, outdistanced only by the former Stapleton International Airport or closed Lowry Air Force Base.

The acreage is positioned at the confluence of light rail lines, making it a prime for a high-density, transportation-oriented project, officials say.