CO: Centerra Developer Expands Industrial Footprint in Northern Colorado
4 Nov, 2020
McWhinney, master developer of Centerra, is pleased to announce the three latest tenants slated to join the Centerra Industrial campus, including Geary Pacific Supply, NORCO Volleyball Club, and a major home improvement retailer. McWhinney welcomes NORCO to Building V, completed in July, and Geary Pacific and the home improvement company to Building VI, which will deliver in December 2020.
Keeping pace with the stable demand for industrial space in northern Colorado, McWhinney will break ground on Building VII in Q1 2021, with plans to further expand its industrial footprint in the 3,000-acre master-planned community with a new industrial district at Crossroads Boulevard and Rocky Mountain Parkway set to launch shortly thereafter.
As the leading hub for this asset class in northern Colorado, Centerra continues to grow its offerings to meet the needs of local and nationwide business operations. McWhinney plans for a minimum of 13 state-of-the-art industrial buildings between its current Centerra Industrial campus and the new industrial district, located directly west of the Centerra Motorplex. With its extensive land holdings, low land basis and “shovel-ready” sites, Centerra is primed to support a variety of future industrial needs in northern Colorado, including distribution hubs for online sales, logistic operations, last-mile delivery facilities and warehouse space with outdoor storage, among other anticipated demands.
"Despite the impacts of COVID-19 on the economy at large, demand for industrial space in northern Colorado remains relatively steady,” said Clyde Wood, vice president of commercial development for McWhinney. “Our intention is to capitalize on this demand by always having product available. McWhinney’s industrial track record and historical land basis allow us to consistently deliver best-in-class industrial space at competitive rates. We’re confident about our positioning in the market and look forward to accelerating both our speculative and build-to-suit industrial programs.”
Nonprofit sports and recreation organization NORCO Volleyball Club is anticipated to move into its new 60,000-square-foot facility in Building V in early 2021. NORCO Volleyball Club is purchasing a condominium interest in the Class A, 123,000-square-foot building, which features 24-foot clear heights, dock-high loading, ESFR sprinklers and flexible space configurations.
Located at 4515-4525 Viking Way, Building VI is currently under construction with projected completion by December 2020. The 123,000-square-foot building will include similar features to Building V. Upon completion, HVAC equipment supplier Geary Pacific Supply will occupy 25,757 square feet and begin operations by December 2020. The larger tenant, a national Fortune 100 home improvement retailer, will occupy 72,396 square feet in the building as a distribution facility for online sales and is anticipated to begin operations in March 2021.
During the first quarter of 2021, McWhinney plans to break ground on Building VII, the final building of the Centerra Industrial campus, with delivery slated for the fall. Building VII will include 123,000 square feet of space and features similar to the campus’ other buildings.
Situated off Kendall Parkway just south of the Northern Colorado Regional Airport, the Centerra Industrial campus is located with immediate access to I-25 and only 45 miles from both Interstate 80 and Interstate 70. The industrial campus also benefits from close proximity to all the amenities of Centerra, including retail, dining, entertainment and recreation trails.
Brokers Mike Eyer of CBRE and Kyle Lundy of C3 Real Estate Solutions manage lease transactions for the Centerra Industrial campus on behalf of McWhinney. Mike Eyer and Tyler Rowland of CBRE also represented the home improvement retailer on the tenant side.
Consistent with the goal of expanding its industrial footprint, McWhinney’s next industrial campus adjacent to the Motorplex at Centerra will include seven new buildings ranging in size from 43,000 square feet up to 150,000 square feet on both a speculative and build-to-suit basis.
“We are especially excited about the launch of our next industrial district, which is already in the design development phase. This new campus will offer a broader range of building types and sizes to ensure we can accommodate any significant industrial or flex user in the region.” added Wood.
The industrial district will support a variety of uses including small to mid-size light industrial and flex spaces, large e-commerce distribution centers, and warehouse space with outdoor storage. The planned district will offer immediate access to I-25 via Crossroads Boulevard, and occupants of these future buildings will benefit from a host of campus amenities, including landscaped outdoor plazas, picnic space and trail access.
“Together with the financial tools made available through our public-private partnership with the City of Loveland, available land, flexible entitlements, and in-place infrastructure, we can swiftly provide the industry with more options and flexibility,” said David Crowder, vice president of community development for McWhinney and general manager of Centerra. “As we look ahead to our next phase of industrial development offerings and as businesses continue to innovate, we feel Centerra will be ideally positioned to adapt and accommodate any user and their evolving business needs.”
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