Swire Coca-Cola has canceled plans to build a 570K SF bottling plant near Denver International Airport, citing “unforeseen delays and ongoing timeline instability” that derailed the project.

The Utah-based bottler had secured a 75-year, $270.7M ground lease approved by Denver City Council last year for the site at Tower Road and Peña Boulevard. Construction was expected to begin this year, with a 2027 opening.

Now, the company says it is seeking a new location for its planned regional facility.

A company spokesperson told The Denver Post that the delays and timeline issues were the main aggravating factor.

“As such, we will no longer pursue the originally proposed location for the development of a new production plant,” the representative said.

The scrapped plant adds to some uncertainty in the airport submarket, where industrial vacancy hit 11.9% at the end of 2024, according to CBRE. While construction has slowed metrowide, the airport area still has a high concentration of large-scale speculative and build-to-suit projects.

“Development today has to have a compelling story behind it,” CBRE’s Todd Witty told Bisnow in March. “Whereas in the past, people could be more bullish on every submarket, today they have to be more selective.”

New industrial completions dropped 18.2% year-over-year, CBRE’s fourth-quarter report showed. The Airport East submarket had an 11.9% direct vacancy rate across 45.9M SF, while Airport Central’s vacancy was 4.3% across 56.1M SF.

Despite the cancellation, Swire says it is “committed” to Denver. The company employs 530 people at its Central Park distribution center and says it supports local organizations across the city, particularly in northeast Denver.

A new location is being identified for the planned facility, which Swire says remains a key regional investment.