First Industrial Realty Trust has acquired a 138-acre site in Aurora where it plans to develop a 1.9M SF speculative industrial park called First Aurora Commerce Center.
Construction has started on the first phase of the development, a 555,840 SF logistics center with an estimated investment of $38.3M. First Industrial paid $8.8M for the site, which can accommodate up to 1.9M SF in five buildings.
Near the intersection of E-470 and Interstate 70, the park will provide tenants with easy access to transportation and nearby amenities. The first building will have a 36-foot clear height, 109 dock-high doors, four drive-in doors, 174 trailer stalls, 278 auto stalls, ESFR sprinklers and LED lighting. Phase 1 is expected to be completed next summer. First Industrial plans to develop the remaining land on a speculative basis with buildings ranging from 130K SF to 587K SF.
“First Aurora Commerce Center is well-located to serve businesses that require convenient and efficient distribution channels, as well as access to a large pool of highly skilled labor from Aurora, Denver and the surrounding area,” First Industrial Senior Regional Director John Strabel said. “We are excited to enhance our portfolio in the growing Denver metro area and expand our position in this key logistics submarket.”
The JLL Denver Supply Chain and Logistics Solutions team of Mitchell Zatz and Carmon Hicks will handle leasing of the project.
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