CREJ: IBC To Deliver 66,910-Sf Spec Building At Concord Center

• August 20, 2013

IBC Holdings has resumed speculative development at Concord Business Center with a 66,910-square-foot office/ warehouse building slated for completion in November.

The approximately $5.6 million building at 13300 James E. Casey Ave. Will offer 24-foot clear height, 12 dock-high and six drive-in doors, skylights and ESFR fire sprinklers in a submarket where that type of space is virtually nonexistent.

“The vacancy is getting extraordinarily tight in some square-footage segments. If somebody is out there looking for 25,000 square feet, they have no choices,” said IBC co-founder and Managing Director Brian Mott.

Divisible to 16,335 sf, the building will be the third that IBC has developed at Concord Business Center since acquiring property there in late 2006.It sold an 85,036-sf industrial building at 13310 James E. Casey Ave. To a user and owns a 55,680-sf flex building at 8585 Concord Center Drive, where KONE Corp. recently leased 15,299 sf.

Concord Business Center is a 100-acre master-planned development just east of Centennial Airport, off E-470 and South Peoria Street in Douglas County.IBC Holdings has approximately 25 acres remaining for development within the park. It likes the southeast submarket because it is a growing area but also one where it doesn’t compete with large industrial developers that are active in Denver, said Mott.

Asking rates in the new building are $7.25 to $8 per sf, depending on size and level of finish. Dave Lee and Jason Addlesperger of Newmark Grubb Knight Frank are marketing the space.

The project team includes general contractor Murray & Stafford, Intergroup Architects and Jansen Strawn Consulting Engineers.

IBC’s project is among the first two speculative industrial buildings to be built in the southeast Denver industrial submarket in five years. Central Development and Bradbury Cos.Are under construction on 98,875 sf at nearby HighField Business Park that should deliver about the same time. At least one more developer also has plans for new spec product in the southeast submarket.

IBC Holdings has developed, redeveloped and acquired a number of industrial properties in the Denver market, where one of its three offices is located. It currently is redeveloping Avaya’s1. 2 million-sf former researchand- development facility on 105 acres at West 120th Avenue and Interstate 25 in Westminster.Called Park 12 Hundred, the project will include warehouse, light-industrial, flex and office space.