Preleasing of 121K SF at 25 North Underscores CO Industrial Might

Underscoring the strength of the Colorado industrial market, EverWest Real Estate Investors has preleased a 121,000-square-foot speculative industrial building currently under construction at its 25 North industrial park in metro Denver. Colorado-based Sashco will relocate and expand into the new building located at 14802 Grant St. in Thornton in October 2021 upon completion of tenant improvements.

The building is part of the larger multi-building 25 North industrial park, for which EverWest serves as the project developer and co-owner alongside Invesco Real Estate.

“Thornton’s 25 North submarket is seeing strong demand from a variety of industrial tenants,” said Chris Winn, EverWest director of asset management. “This building and industrial park offer state-of-the-art class-A space with superior access to labor and regional distribution capabilities.”

EverWest purchased the 25 North campus in mid-2020 in a joint venture with Invesco Real Estate. At the time of purchase, the property included two newly completed class-A industrial buildings totaling 219,200 square feet with a pad-ready site available for immediate development.

EverWest broke ground on the 14802 building in August 2020 and delivered the TI-ready core/shell in March 2021. In addition to its three existing buildings, 25 North has 46.4 acres of developable land able to accommodate 595,000 square feet of new industrial development as market demands. Site design and engineering plans for the second phase are currently pending municipal approval.

Steve Hager of Cushman & Wakefield represented EverWest in the lease transaction. The tenant was represented by Matt Trone of Cushman & Wakefield and Tim Maierhofer of Sashco.