Contractor Expands Footprint In Thornton: The Denver Deal Sheet
A Colorado-based general contractor focused on industrial construction and plant maintenance doubled its facility size to expand operations.
Industrial Constructors/Managers Inc. relocated to a 60K SF facility at 471 E. 124th Ave. in Thornton. The company’s previous facility was 31K SF, with 12K SF for steel fabrication. The new facility has a 40K SF steel fabrication shop.
The fabrication shop will specialize in miscellaneous metal work, such as stairs and handrails, while also supporting overflow production from ICM’s Pueblo-based steel fabrication and pipefitting facilities.
PEOPLE
Denver-based Confluent Development has named H McNeish chief operating officer. McNeish has more than 30 years of industry experience and has worked with Confluent since its inception. Confluent’s pipeline consists of more than $1B in sales and development activity over the next 12-15 months.
SALES
Lincoln Property Co. and PGIM acquired the St. Joseph Medical Pavilion, a 99K SF, Class-A outpatient medical building at 1818 N. Ogden St., part of St. Joseph Hospital. The five-story building was completed in 2020 and, at the time of the sale, was 82% leased with tenants including Intermountain Health.
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A private, out-of-state investment firm acquired Momentum at First Creek, a 200-unit apartment community at 5500 Telluride St. in Denver, for $56M. Colliers’ multifamily advisory group arranged the sale and financing.
FINANCING
CBRE arranged a $70M refinancing for 24Fifty at University Park, a 252-unit multifamily complex at 2450 S. University Blvd. CBRE secured a five‑year, floating‑rate loan from a national debt fund on behalf of DivcoWest. 24Fifty was completed in 2019 and features studios and one- and two-bedroom units. The building also has fully leased ground-floor retail space.
THIS AND THAT
The Downtown Denver Partnership’s February report shows pedestrian activity reached 89% of 2019 levels and three new ground-floor businesses opened. An additional 38 businesses are in the pipeline to open downtown. However, downtown office vacancy rates remained almost flat at 28.8% as of Q1 2026 quarter-to-date, with 12.1M SF vacant, down from 12.2M SF in the previous quarter.
