Auto Parts Company Leases 178K SF: The Denver Deal Sheet
Advance Stores Inc., a subsidiary of Advance Auto Parts, leased 178K SF at Ascent Commerce Center, an industrial park in Commerce City.
The multitenant industrial park consists of three Class-A buildings on 33 acres. Industrial landlord Ambrose, which acquired Ascent Commerce Center in 2024, said Advance Stores’ seven-year lease brings one of the buildings to full occupancy.
The other two buildings have around 144K SF, including more than 4K SF in office space, still available for lease.
PEOPLE
CBRE promoted Jenny Knowlton, Charley Will and Chad Flynn to executive vice presidents in the Denver office. Knowlton, Will and Flynn joined CBRE in 2014 and have worked on more than 400 property sales and recapitalizations. The group leads a six-person capital markets team specializing in office and mixed-use investment sales.
CONSTRUCTION AND DEVELOPMENT
The Urban Land Conservancy will open a new affordable housing community, The Irving at Mile High Vista, in West Colfax on Jan. 22. The 102-unit project will serve households making between 20% and 80% of the area median income. The building is all-electric, featuring rooftop solar and high-efficiency heating. It is one of the first developments funded by Colorado’s Proposition 123, which dedicates state funding to affordable housing.
FINANCING
Denver-based Trailbreak Partners closed on a $44M construction loan for a townhouse development in Boulder called Picea Residences. Infrastructure work is underway on the project, which will ultimately feature 52 homes across 10 three-story buildings at 2500 Spruce St. FirstBank provided the loan.
THIS AND THAT
Charlesgate Property Management is expanding into Colorado with an early focus on lease-ups, repositionings and institutional partnerships. The company’s clients include Denver real estate investment firms Alpine Investments and Revesco Properties.
