New Industrial Site Breaks Ground Near DIA
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.
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.