Colorado-Real-Estate-Journal_508458

Page 14 - February 4-17, 2026 www.crej.com Industrial by Avalon Jacka LOVELAND – A local real estate firm acquired a two-build- ing, Class A industrial campus near Northern Colorado Regional Airport in a 1031 exchange. Denver-based Aardex pur- chased Brands West, located at 5365 Byrd Drive and 5645 Kitty Hawk Drive, from Houston-based Hines. The 187,457-square-foot campus sold for $39.11 million in December, according to Larimer County public records. Delivered in 2024 following three years of construction, the asset was fully leased at the time of closing. “Brands West represents exactly the type of industrial real estate we seek out – well-located, newly delivered, fully leased, and built to support today’s evolving manu- facturing and logistics users,” said Aardex principal Caleb Hebel. “Its position along the I-25 cor- ridor, proximity to major regional infrastructure, and strong ten- ant mix make it a highly durable asset. We’re excited to add it to our Colorado portfolio and stew- ard it for the long term.” The campus is currently home to six tenants in the manufactur- ing, product assembly and indus- trial services sectors, including Muller Technology, James Fisher Technologies and Artisan Design Group. Aardex will assist with finishing some tenant improve- ments and upgrades, including power upgrades, in the immedi- ate future; long-term, the com- pany plans to support tenant operations so they can “be suc- cessful in their space” to meet their business needs, according to Hebel. Because the building is new, Aardex does not have plans for overall property upgrades at this time. “It’s an outstanding building with great tenants,” Hebel said. “It was done well by Hines and is really helping support the growth in that region, which has been pretty amazing.” CBRE’s Jeremy Ballenger, Tyler Carner, Keiffer Garton, Peter Kast, Pete Kelly and T.J. Anti- nora represented Hines in the lease-up and sale of the buildings. Aardex worked directly with the team throughout the acquisition. “There is strong demand from tenants and investors for Class A industrial product in Northern Colorado,” Ballenger said. “Hines recognized that need and devel- oped a state-of-the-art project that attracted some of Northern Colo- rado’s best advanced manufactur- ing and logistics tenants, bring- ing the project to 100% leased in a short period of time. Aardex executed seamlessly, moving the project from contract to closing efficiently and making this a suc- cessful outcome for all parties.” Brands West was designed to meet modern industrial demand, offering a combination of scale, power and flexibility to support a wide range of manufacturing and distribution uses. Campus ameni- ties include 28- and 32-foot clear heights, 60-foot speed bays, 2,500 amps of power, 49 dock-heigh doors, 490 parking spaces, 43 trailer stalls, and several outdoor amenities, including landscaping, a pergola-covered seating area Aardex acquires $39M Brands West campus from Hines by Avalon Jacka FRONT RANGE – A Denver- based brokerage team facilitated numerous industrial transactions across the Denver metro area in fourth-quarter 2025. Cushman & Wakefield’s McManus Industrial team, com- prising Drew McManus, Bryan Fry, Ryan Searle and Shan- non McBroom, brokered five lease deals, including Advance Auto Parts’ lease with landlord Ambrose Property Group for 178,027 square feet in Building 2 of Ascent Commerce Center, located at 17956 E. 84th Ave. The building is fully leased follow- ing the transaction. (See story on Page 1) “Denver’s industrial leasing market, lifted by the significant Advance Auto Parts transaction, picked up steam late 2025 and looks set for a rebound with solid momentum rolling into first- quarter 2026,” McManus said. In Aurora, Olympic Pallet Corp. leased 43,660 sf at 15755 E. 32nd Ave. in Airport Distribution Center. The new lease marks a relocation and expansion for the tenant. The McManus Industrial team represented the tenant, and CBRE’s Mike Camp, Bill Thomp- son and Jim Bolt represented the undisclosed landlord. In Denver, an undisclosed crane company leased 43,468 sf at 7450 Clayton St. in North Central Logistics Center, Building A. The McManus Industrial team repre- sented the tenant, and T.J. Smith, Tyler Ryon and Cody Sheesley of Colliers represented the land- lord, which is listed as 74th Ave- nue Clayton Street Denver LLC on Adams County public records. In Englewood, Fortline Inc. leased 20,118 sf on 3.22 acres at 12700 E. Broncos Parkway from Alterra IOS. The McManus Industrial team represented the landlord, and Mike Viehmann of Newmark represented the tenant. The McManus team also facilitat- ed the short-term sale-leaseback of the property to Alterra IOS in October. In Commerce City, Miller Pipe- line leased a 14,980-sf warehouse property on 6.06 acres at 7627 Dahlia St. from Jadian IOS. The McManus Industrial team repre- sented the landlord in the direct deal. “Leasing activity has picked up across the market since Thanks- giving, with the most significant increase occurring in the 15,000- to 40,000-square-foot segment,” Searle said. “This size range had been relatively quiet over the past year, and the recent uptick is a positive sign as we move toward a healthier market environment.” The team also completed sev- eral sales in the fourth quarter. In Denver, an undisclosed buyer acquired a 13.77-acre industrial site with outdoor stor- age at 301 W. 60th Place. The most recent sale was not recorded at the time of publication on Adams County public records, but the previous owner was listed as 60th Place and Broadway LLC. The 69,096-sf building offers 20-foot clear height, 11 drive-in bays, and access to Interstates 25, 70 and 76, according to a LoopNet listing. The McManus Industrial team represented the seller in the direct deal. In Commerce City, Murietta Ventures LLC and CCV Dahlia LLC purchased the 8.5-acre indus- trial outdoor storage property at 7130 Dahlia St. from Lincon Financial LLC for $8.07 million, according to Adams County pub- lic records. The property features an 18,740-sf building with seven drive-in doors, 15- to 19-foot clear heights, I-3 zoning and 3-phase power, according to a marketing brochure. The McManus Indus- trial team represented the seller in the direct deal. In Denver, Albrook Partners LLC bought a two-building indus- trial property at 4735 and 4755 N. Washington St. from PDM Steel Service Centers Inc. for $1.85 million, according to Denver County public records. Totaling 33,397 sf, the asset offers immedi- ate access to Interstates 25 and 70, and 0.5 acres of fenced yard, according to a marketing bro- chure. The McManus Industrial team represented the seller, and Joe Krahn of Cushman & Wake- field, represented the buyer. In Wheat Ridge, 4975 Miller Street LLC acquired the 2.54-acre property at 4975 Miller St. from ES 4975 Miller St. for $5.7 mil- lion, according to Jefferson Coun- ty public records. The 30,308-sf building was fully leased to two tenants at the time of sale. The asset features dock-high and grade-level loading, office space, new LED lights, a repaved park- ing lot with more than 60 park- ing spaces and a new TPO roof, according to a marketing bro- chure. The McManus Industrial team represented the seller, and Kristjan Danis and Matt Marcus of Colliers represented the buyer. The McManus Industrial team specializes in the acquisition, dis- position and leasing of industrial land and investment properties across Colorado and the U.S. The team has completed more than 35 million sf of property transactions valued at more than $2.5 billion in total consideration, according to the team’s website. Other News n LOVELAND – A provider of electrical power solutions signed a lease for Class A space in the Boyd Lake Commerce Center. Trystar LLC signed a long-term lease for 33,802 square feet at 3810 Vander Meer Drive. Cushman & Wakefield’s Jason Ells, Aaron Valdez, Alec Rhodes and Tyler Smith represented the landlord, BLCC One LLC, in the transaction. “We are thrilled to welcome Trystar LLC to the building,” Ells said. “Their presence, alongside established tenants Bobo’s and LaForce, marks a significant mile- stone in stabilizing this asset and creating a dynamic environment for long-term success. This trans- action highlights the ongoing demand for high-quality indus- trial space in Northern Colorado and further solidifies Boyd Lake Commerce Center as a premier destination for leading business- es.” The 100,117-sf distribution building offers regional connec- tivity and access to a robust mix of shopping, dining and service options in the surrounding area. n BOULDER – A provider of emergency medical and ambu- lance services leased a flex space in Flatiron Park. Falck Rocky Mountain leased 7,368 sf at 1930 Central Ave., Suites C and D. The new space will support Falck’s growing operations, following its selection as the city of Boulder’s ambu- lance services provider. “We are honored to be trusted with the opportunity to provide emergency ambulance service for the city of Boulder, and to do so from our new local head- quarters,” said Falck Division Manager of Operations Shannin Wetzel. “We want to do more than just serve this community – we’re looking forward to being part of it.” The space offers a flexible layout, with high-quality office space with nine private offices and administrative space, and a large warehouse with the abil- ity to store ambulances indoors, as well as grade-level overhead doors and 14-foot clear heights. The property provides excellent access, functionality and proxim- ity to daily amenities. The tenant was represented in the transaction by J.R. Bitzer of Bitzer Real Estate. The landlord, which is listed at F&D Interna- tional on Boul- der County public records, was represent- ed by Nate Lit- sey of Market Real Estate. “The suc- cess of this deal came down to a l i g n m e n t , ” Litsey said. “Falck had very specific needs given the criti- cal nature of their business, and my client was able to make those a reality quickly to meet Falck’s require- ment to be operational on Jan. 1.” The Boulder flex market has experienced increased demand for higher-quality spaces blend- ing warehouse capability with modern office environments. “We’re seeing more tenants who need efficient warehouse or production space but don’t want to compromise on office quality,” Litsey said. “This deal is a great example of how well-designed flex properties that are in good shape and mostly move-in ready are what is getting leased first.” s McManus Industrial team completes sales & lease deals Drew McManus Bryan Fry Ryan Searle Shannon McBroom J.R. Bitzer Nate Litsey Please see Aardex, Page 15 Located at 5365 Byrd Drive and 5645 Kitty Hawk Drive, the fully leased Brands West includes two buildings totaling 187,457 square feet.