Whole Foods Market has signed a lease for a 137,000-square-foot distribution center in the HighPoint Elevated industrial park under construction near Denver International Airport.
CBRE, a commercial real estate services and investment firm, said Thursday that it arranged the lease on the center, which will serve Whole Foods stores across the region. The build-to-suit space will occupy an entire building at the site in Aurora.
The building will be at the intersection of Denali Road and 60th Avenue. The site is near affordable housing, a qualified labor pool and is in a designated opportunity zone, CBRE said in a statement. Opportunity zones are meant to spur economic growth in low-income communities and provide tax benefits to investors.
Hyde Development and Mortenson are developing the project, which will be 5.5 million square feet when fully built.
The Hyde Development-Mortenson partnership was able to deliver a building designed for Whole Foods Market in the same amount of time it would take to retrofit a building, “delivering a more efficient and cost-effective building,” said Todd Witty, CBRE senior vice president.
Whole Foods Market aligns well with the other tenants HighPoint Elevated has attracted, said Paul Hyde, principal at Hyde Development. The companies have sophisticated warehouse and distribution needs, Hyde said.
Witty, Daniel Close, Tyler Carner, Jeremy Ballenger and Jessica Ostermick of CBRE represented Hyde Development in the lease with Whole Foods Market. The grocer was represented by Steve Hager of Cushman and Wakefield.
Xcel Energy Colorado is among the tenants locating at the park. The utility is building a new service center, office and warehouse, totaling 40,000 square feet. Xcel, which bought 10 acres of land at the site, will also have five acres of yard and outside storage.
Other tenants of HighPoint Elevated will include Dollar General, Scott’s Miracle Grow and PrimeSource Building Products.
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