Newmark is pleased to announce the development of 76 Commerce Center, a 1.8 million-square-foot, Class A industrial park in Brighton, Colorado. The 122-acre site in Bromley Industrial Park is the largest speculative project to emerge in this growth corridor and is one of the most significant industrial land sales in the Denver area in the last decade. The development is a joint venture between Hyde Development and Mortenson, which has served Colorado as a leading builder and developer for over 35 years. 76 Commerce Center will offer tenant companies easy access to the entire Denver metropolitan area and the Rocky Mountain region to more efficiently serve the burgeoning front range population growth.
The 76 Commerce Center will be a significant regional asset and will serve the I-76 corridor’s burgeoning industrial needs. Once complete, this project will be the largest industrial development in Brighton and will provide a significant impact to Brighton and the Denver metro region.
“We have been working with Paul Hyde and team over the past year to get this to the finish line, and we are pleased that we will be home to something this significant,” said Michael Martinez, President and CEO of the Brighton Economic Development Corporation. “This project proves that Brighton continues to be a great place to do businesses due to our quick access to Denver International Airport, Downtown Denver and the Denver metro area at-large. We thank Hyde Development and Mortenson for their commitment to our community and look forward to the success of the 76 Commerce Center in Brighton.”
“We are committed to building a state of the art industrial park in Denver’s newest commerce corridor,” said Paul Hyde, partner at Hyde Development. “Optimal features of modern commerce centers include adaptive reuse and new development of modern warehouse and flex space, designed to attract distributers who desire a proximate location to their urban customers.”
Located in an enterprise zone, 76 Commerce Center also offers quick permitting with PUD zoning in place. Newmark’s Tim D’Angelo, SIOR, Mike Wafer, SIOR and Mike Wafer, Jr. are the exclusive listing brokers for 76 Commerce Center. The project will be designed by architect Ware Malcomb and built by Mortenson. Groundbreaking on a 266,240-square-foot speculative building is expected to kick off the development this year. Hyde Development and Mortenson closed on the land acquisition on August 28.
76 Commerce Center is the second institutional grade industrial park developed by Hyde Development and Mortenson. Northern Stacks, a 1.7m square-foot, environmentally-balanced, modern business park in Minneapolis, Minnesota, was the firms’ first joint project. That project has been highly regarded for the redevelopment of a historic industrial property and U.S. Environmental Protection Agency Superfund Site located in the heart of the Twin Cities metropolitan area.
“I-76 is a clear alternative for industrial tenants looking to find space in the north metro area,” said Tim D’Angelo, senior managing director at Newmark. “The I-76 corridor and north metro area is going to continue to see a tremendous increase in development of industrial product due to scarcity of I-70 and Central Denver infill land sites and the choking traffic patterns close to the city.”
The development will be a first class, ultra-modern industrial business center with immediate access to Interstate 76, and include a variety of building types from bulk warehouse to office warehouse, flexible building size options and state-of-the-art building features. It will showcase features including clear heights of 32’ - 36’, 60 mil TPO “cool roofs,” ESFR sprinklers, and significant auto and trailer parking, combined with direct access to I-76 and a mile of frontage and visibility.
“There continues to be limited quality industrial space available in our market, and we are very bullish on the I-76 corridor as an alternative to a heavily congested I-70, which will become more challenging over the next six years with the I-70 construction project,” said Newmark Executive Managing Director Mike Wafer.
About Hyde Development
Hyde Development was founded in Minneapolis, Minn. by Mac and Paul Hyde. Hyde is a privately-owned, commercial real estate investment and redevelopment company focused on promoting restoration and reuse of brownfield sites. For more information, visit hyde-development.com.
Founded in 1954, Mortenson is a U.S.-based, family-owned construction and real estate development company. As one of the nation’s top builders, Mortenson provides a complete range of development and construction services, including site acquisition, financing, planning, program management, preconstruction, general contracting, construction management, design-build and turnkey delivery.
Mortenson has operations across North America with offices in Chicago, Denver, Fargo, Iowa City, Milwaukee, Minneapolis, Phoenix, Portland, San Antonio, Seattle, Washington, D.C., and in Canada. For more information, visit mortenson.com.
About the Brighton EDC
Brighton Economic Development Corporation (BEDC) is a 501c (6) Colorado non-profit organization serving the Greater Brighton Area. BEDC is the primary agent for economic development services. BEDC offers relocation, retention and expansion assistance and support to businesses. BEDC works to expand and diversify the local tax base by facilitating the creation of quality jobs and the attraction of retail development. BEDC encourages responsible, diverse growth and development that enhances Brighton’s quality of life as a desirable place to live, work, learn and play. To learn more about Brighton Economic Development Corporation, visit www.brightonedc.org or call 303.655.2155.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.