(DENVER) - JLL, on behalf of Hines, a global real estate investment, development, and property manager, in partnership with EnviroFinance Group (“EFG”), has announced the groundbreaking of the first phase at Quantum 56, a Class A, six-building, 868,360 square feet industrial park in North Central Denver, situated west of I-25 on 56th Ave, and a short ten minutes from Denver’s CBD within the most sought-after industrial submarket for tenants and investors alike. Phase I, featuring three buildings totaling 581,250 square feet of warehouse/manufacturing space, is set to be completed in Q2 2024. Essex Financial Group (“Essex”) secured the construction loan for Phase I. The loan was provided by one of Essex’s correspondent life insurance company relationships.
Jason White, Mitchell Zatz, and Carmon Hicks of JLL will lead the leasing efforts on behalf of Hines. Essex’s Capital Markets team was led by Blaire Butler, Cooper Williams, and Matt Perigard.
"We are thrilled to introduce Quantum 56, the cutting-edge business and logistics park that will set new standards in Denver," Jason White, Managing Director at JLL Denver. "With its strategic location surrounded by a vibrant community, this property offers unparalleled opportunities for businesses seeking premium industrial space with unique urban-like amenities in a premier location adjacent to downtown Denver."
Phase I will be comprised of three buildings: Building 1 (350,400 SF) a 36’ clear cross-dock building offering ample trailer parking, along with Building 2 (121,600 SF) and Building 3 (109,250 SF), both 32’ clear rear-loaded buildings at varying depths. At completion, Building 1 will be the sole available cross-dock for lease within the North Central submarket. Phase II offers available build-to-suit opportunities at Building 4 (157,080 SF) and additional compact owner-user opportunities at Building 5 (68,752 SF) and Building 6 (61,500 SF). Building 6 boasts a rare aquifer beneath the structure, providing an additional water source for heavy users and reducing reliance on the utility provider. Included in Phase I is the completion of the extensive amenities centrally located within Quantum 56, including a 1.6-acre park with a full-sized basketball court, picnic tables and a walking path.
“North Central Denver is a fast-growing submarket, and occupier demand for Class-A industrial space continues to outpace existing supply,” said Courtney Schneider, Director at Hines. “Delivering Quantum 56 to the region will capitalize on this increased demand for best-in-class, well-located industrial space.”
Designed to cater to a diverse range of tenants, Quantum 56 will offer ample capacity for large-scale distribution and manufacturing users as well as smaller single-occupier/owner-user buildings. The industrial park is situated in unincorporated Adams County which provides a strong sales tax advantage (4.75%) compared to the higher rates (surrounding areas all totaling over 8%) in the surrounding incorporated areas, making it an ideal choice for businesses with showroom or customer pickup operations.
“With its innovative features, prime location, and tax advantages, Quantum 56 is poised to be a magnet for businesses seeking a competitive edge,” added White. "Its convenient access to major transportation routes and highways ensures seamless connectivity for streamlined logistics, allowing occupiers to efficiently reach customers, suppliers, and distribution hubs. We are confident that Quantum 56 will be a valuable asset to the Denver community and its businesses.”
Quantum 56 is designed by Ware Malcomb’s Denver office and is being constructed by Arch-Con Corporation.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage nearly $96B1 in high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 685 properties totaling nearly 216 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization and RIA AUM as of December 31, 2022.
About Essex Financial Group
Essex Financial Group is a commercial mortgage banking firm headquartered in Denver, Colorado, specializing in commercial real estate debt and equity placement. For over 30 years, Essex has helped its clients navigate the capital markets effectively and efficiently to identify the best capital source and structure to meet their needs. For further information, please visit essexfg.com
About EnviroFinance Group
EnviroFinance Group (EFG) is a Denver-based real estate development firm specializing in urban infill and brownfield redevelopment. EFG brings expertise in land planning, entitlements, abatement and demolition, environmental remediation, civil infrastructure, and public finance together in one firm to tackle challenging urban redevelopment sites and maximize outcomes for surrounding communities and EFG investors alike.
Contact: Grace Lewis