Space will be distribution center for national company
DENVER (March 3, 2015) – United Properties, a developer and investor with offices in Denver, has signed a lease for 88,575 sq. ft. with Priority Wire & Cable, Inc. at its fifth building at Enterprise Business Center (EBC) in Stapleton. The fifth building is the second phase of EBC, located near the southwest corner of Interstate 70 and Havana Street in Denver. Construction of the 467,000-sq.-ft. bulk cross-dock building will be complete by the end of April.
The wire and cable supplier will occupy nearly 20 percent of the building, expanding its national network of distribution centers into Colorado. Priority Wire & Cable will commence its lease near the end of the core construction period and then begin interior work.
“We were fortunate that Priority Wire & Cable selected our location and helped kick off the lease-up of the next phase,” said Kevin Kelley, vice president, United Properties. “Large blocks of available space are diminishing quickly in the central area, and as a result we are negotiating with multiple users for the remaining vacancy.”
In addition to United Properties, the project team includes landlord representative Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank; tenant representative Mike Camp and Corby Rolin of CBRE; architect Ware Malcomb; and general contractor Murray & Stafford, Inc.
The first phase of EBC, a class A industrial development, is comprised of four buildings with more than 701,000 sq. ft. on 38.2 acres; 670,770 sq. ft. in the first phase is leased. United Properties acquired an additional 24.8 acres for the second phase of EBC in 2014.
About United Properties
United Properties, based in Minneapolis, specializes in commercial real estate development and investment. Since 1975, United Properties has provided development services for the retail, residential, office, medical and industrial sectors. In addition to a large presence in the Minneapolis-St. Paul market, United Properties’ Colorado division develops retail, office and industrial buildings. Formed in 1916, the United Properties investments group acquires, manages, finances and disposes of the company’s real estate investments, which includes nearly 60 office, medical, industrial and retail assets in Minnesota, Wisconsin, Illinois and Colorado. For more information, visit www.uproperties.com or follow on Twitter at @UPDeepRoots.