United Properties has announced that Beverage Distributors Company, LLC, Inc. has signed to lease 500,000 square feet of space and closed on the purchase of 45 acres of land from Forest City Stapleton. This land is located at I-70 and Havana Street in Denver.
“This is one of the largest industrial leases ever signed in Denver, and in our portfolio of properties,” said Kevin Kelley, vice president, United Properties.
Three new buildings are planned to be constructed on the land with two of them expected to break ground in September. The third building will be constructed based on market demand. The two buildings that will begin construction in September will include a 646,00 square foot distribution building that will be completed in early 2017, and a 157,000 square foot flex building that can be used for office space will be completed in the second quarter of 2016.
“We are thrilled to be in the position to consolidate our operations into this new facility,” said Beverage Distributors President and CEO Joseph Marotta. “This is the culmination of the hard work of all of our associates over the past 40 years here in Colorado. This new facility will serve our business, our supplier partners and our customers for the next 20 years and beyond.”
Beverage Distributors Company is the largest distributor of liquor and beer in Colorado and employs over 600 people. Once these new buildings are completed, Beverage distributors will move operations from three existing properties in Aurora to be all housed at the Stapleton property in Denver.
Powers Brown Architecture designed the future buildings and the general contractor is Murray & Stafford, Inc.
Along with United Properties, Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank provided brokerage services.