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Stafford Logistics Lease is Largest Since Q1 2020
A 594,138-square-foot industrial lease was recently arranged on behalf of Alan Ritchey Inc. (ARI) at Stafford Logistics Center in Aurora, CO. This transaction marks the largest lease at a speculative property in the Denver metro since first quarter 2020. The landlord is NorthPoint Development LLC.
ARI is a Texas-based multi-industry company that provides services to the government, industrial, agriculture, energy and transportation sectors. It will occupy Building 1, a newly constructed speculative industrial building, beginning this month.
Bill Thompson with CBRE represented ARI in lease negotiations.
“Recently, ARI won a long-term contract with the United State Postal Service to handle overflow mail and packages, creating an urgent need for a large space to serve the Denver market properly,” said Thompson. “Although there are record levels of new speculative industrial construction in Denver, there were few choices of this size available for immediate occupancy.”
Located at 20500 East Colfax Ave., the property is near Denver International Airport.
According to CBRE research, the vacancy rate in Denver’s Airport submarket was 5.8 percent at the end of second quarter 2021, below metro Denver’s overall vacancy of 6.9 percent.
- ◦Lease
