You don’t have to be a long time resident of metro Denver to know the commercial real estate landscape has changed significantly in recent years. One can simply look around to see a landscape full of construction cranes, and orange cones to understand the vast level of development in Colorado. Especially exciting has been the infill around Union Station and throughout the urban core of Denver, and the transit oriented development along RTD Light Rail lines that have developed significantly in a relatively short amount of time.
Population increases, access to capital, and zoning changes have contributed to this evolution thus far, but what is next on the horizon? What changes to the commercial landscape can we expect moving forward? In this article and future posts, I’d like to highlight development that will continue to impact the market and Denver citizens’ day to day lives.
First up for discussion is “Major.” Major is a redevelopment of a historically-significant industrial property in Northeast Denver. Originally built around 1940, Major is an industrial, 500,000 square foot, cross-dock facility that was built to package medical supplies waiting to be shipped overseas during World War II. After the war the property, for all intents and purposes, laid in wait for decades, until recently.
Located near the intersection of 38th Avenue and Steele Street, an onlooker of the space might ask, “What type of development could possibly be going on here that can sustain a half million square foot industrial space?” The answer is Major, adjacent to the future Central 70 Project and 39th Avenue Greenway. The Central 70 Project is the much disputed reconstruction of a 10-mile stretch of I-70 between I-25 and Chambers Road. Major, which is now relatively isolated, is situated directly across from the future 39th Avenue Greenway Project located just a few blocks south of the Central 70 Project and directly behind Bruce Randolph School.
In the linked video, which shares the vision of the Greenway, to include bike paths, shade trees, public gardens, plazas, an outdoor amphitheater, and a classroom, it is obvious this will be a pivotal area for businesses to invest. Savvy tenants are already locking space in now, knowing soon their location will enjoy the benefits and traffic from a beautiful greenway, residential developments, and public transportation.
In fact, Major is already home to a virtual who’s who of local to Colorado businesses like Winter Session, Color Cord, Tres Birds Workshop, River Bear American Meats, Sushi-Rama commissary, and even a Kaiser Permanente location. If you would you like to become part of this ongoing development and benefit from the valuable amenities, contact Chris Lindgren today.
Chris Lindgren is a 14-year veteran of the metro Denver real estate market specializing in tenant services and investment buyer opportunities. Chris brings a wealth of diverse and valuable business experience and is highly skilled in office, retail, and industrial tenant representation. He understands the complexities facing business owners and how negotiating a great deal can lead to years of financial prosperity. Visit transworldcre.com for more information.