Rockefeller Group, the U.S. real estate developer, owner and operator, announced today that it has purchased a 35.6-acre parcel in Thornton, Colo. for the development of a three-building, 453,550 square-foot industrial park. The project is located at E. 152nd Ave. & Washington St. in Thornton. The seller was Confluent Development, a Denver-based real estate investment and development firm who purchased the site in 2022 and obtained all entitlements and approvals for the project. 25 Commerce Park broke ground this week with completion expected in Q1 2025.
“25 Commerce Park represents an excellent opportunity for Rockefeller Group to expand our industrial presence to the Rocky Mountain Region,” said Dave Klebba, Managing Director for Rockefeller Group. “We hope to continue to develop industrial in Colorado as well as Utah and look forward to future projects in and around the region.”
Rockefeller Group opened its first office in the region in 2021 and is currently developing more than two million square feet of office and residential in Colorado and Montana.
25 Commerce Park includes three buildings: a 131,250-square-foot distribution center with 28-foot clear heights, 220 parking spaces, 31 dock high doors and four drive-in doors; a 146,300 square feet distribution center with 28-foot clear heights, 224 parking spaces, 33 dock high doors and four drive-in doors, and a 176,000 square foot distribution center with, 32-foot clear heights, 231 parking spaces, 41 dock high doors and four drive-in doors. There are 39 trailer parking stalls available to tenants at each of the three buildings.
“The North industrial submarket continues to experience positive net absorption due to an increase in the populations of Denver, Boulder and Fort Collins, all cities that tenants will have convenient access to from this specific location,” said Matt Bruns, Associate for Rockefeller Group. “The project’s location, along I-25 with access to E-470, I-70 and I-80, made it ideal for our first project in the region where Class-A industrial is in demand as the region expands.” Many of the country’s most successful companies in the technology, healthcare, bioscience, telecommunications, and aerospace industries have recently located to Denver and are some of the top users of industrial space in the country.
Todd Witty and Daniel Close of CBRE represented the buyer on the purchase of the property and will market the project for Rockefeller Group.
“These new industrial buildings in Thornton are well-positioned to serve a range of diverse tenants in north metro Denver with a strong surrounding labor pool and easy access to the Front Range via I-25 and E-470,” said Todd Witty, Senior Vice President at CBRE. “Industrial tenants in metro Denver continue to pursue speculative industrial development with the region recording its 53rd consecutive quarter of positive net absorption in the second quarter of 2023.”
Grey Wolf designed the project and Golden Triangle Construction will be the general contractor. Rockefeller Group’s civil engineer, who has extensive experience in Denver, is Kimley Horn and Associates.
About Rockefeller Group Rockefeller Group develops, owns, and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment. The company's portfolio spans the development of office, multifamily, industrial and mixed-use projects across six geographic regions as well as significant ownership interest in and management of approximately six million square feet of world-class office space in Manhattan. Visit RockefellerGroup.com.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.