A 594,400 SF industrial development has broken ground in Commerce City.
The three-building speculative project is being developed by Lincoln Property Co., which is in partnership with a private real estate fund. The project will be called Ascent Commerce Center, and it is located at Tower Road and East 84th Avenue, inside Nexus at DIA.
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Nexus at DIA is a 230-acre master-planned community near Denver International Airport.
Ascent Commerce Center will be built in phases, with Building 3 expected for delivery in Q4 2020. Building 1 and Building 2 are slated for a Q1 2021 delivery. Lincoln Property Vice President Mark Dwyer said that Denver’s warehouse market has “shown tremendous growth” in the last few years.
Earlier this year, Bisnow reported that 2019 was a monumental year for industrial real estate, with total volume soaring to a record high of $102B. Denver saw 39 straight quarters of positive absorption in industrial real estate, though it is entirely possible that COVID-19 may keep the area from seeing a 40th straight quarter.
Alliance Architecture is the architect on Ascent Commerce Center, Brinkmann Constructors is the general contractor, and Lincoln Property will work with Cushman & Wakefield to lease the property.
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