Brennan Investment Group Starts Spec Logistics Project
- Aug 27, 2019
Brennan Investment Group has begun construction on a massive speculative logistics center that is expected to be fully complete within three years. The Colorado Logistics Park will include five industrial buildings and total more than 950,000 square feet on a 61-acre property. Located at the corner of East 112th and Havana streets in Commerce City, Colo., the project will be built in two phases.
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Brennan Group has broken ground on the first phase that will include three Class A industrial buildings totaling approximately 558,000 square feet. The three new buildings will feature 36-foot clear heights, car parking, multiple loading positions and a yard area for outdoor storage. The first phase is expected to be completed by the third quarter of 2020 and the second phase will be scheduled once the first three buildings are delivered. The second phase will include the remaining two buildings that total more than 396,000 square feet.
Brennan Investment bought the property in November 2018 through a joint venture with New York Real Estate Investors. The partnership will also construct and lease the project. Stream Realty Partner was designated the exclusive leasing agent for Colorado Logistics Park and Stream’s Tyler Reed, Peter Beugg, Dominic DiOrio, and John Torp will lead all marketing-related activities.
Brian Roach, managing principal at Brennan Investment, said the Class A distribution buildings will give Denver area tenants an option that is closer to their supply chain, while offering access to the area’s labor force. The company expects industrial tenants ranging from logistics and distribution to online fulfillment companies or light manufacturing firms.
Brennan Investment has a particular interest in warehouse properties. The company has also partnered with a client of Arch Street Capital Advisors LLC to purchase a 1.3 million-square-foot industrial property in Chicago.