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Avison Young brokers sale of 19.75-acre site in Centennial, CO; Opus Development Corporation to build two industrial buildings totaling 300,000 sf

Avison Young brokers sale of 19.75-acre site in Centennial, CO;
Opus Development Corporation to build two industrial buildings totaling 300,000 sf October 12, 2021

Denver, CO – Avison Young today announced it brokered the sale of 19.75 acres of vacant land located at 7801 S. Fairplay Street in the Dove Valley submarket of Centennial, CO.  The site is planned for the development of two, 150,000 square-foot (sf) industrial buildings for a total of 300,000 sf.

The seller, Heirborn Partners, L.L.C., was represented by Avison Young Principal Rick Egitto, who is based in the firm’s Denver office. The buyer, Opus Development Corporation, was represented by Todd Witty of CBRE.

Opus is slated to start land development shortly and anticipates delivering the speculative project in Q2 2022. Together with Arapahoe County, Opus worked diligently on the scope and framework for this project to ensure that all requirements were met to efficiently develop the highly visible site.

The parcel is located in Dove Valley Business Park, a 320-acre master-planned, mixed-use development located just north of E-470 and just west of Jordan Road.

“The Dove Valley submarket has been coming into its own over the last six years as users, developers and investors enjoy its proximity to Centennial Airport and the Denver Bronco’s Training Facility, as well as filling the industrial gap that had been overlooked for years,” said Egitto.

A diverse mix of users have been attracted to Dove Valley Business Park as it provides easy access to all parts of Southeast Denver via E/C 470, Interstate 25 and Parker Road.  New tenants will join Digicomm, Jeppeson, Lockheed Martin, Bradley Petrolium, Micron, and Cherry Creek Schools Innovation Campus at this Arapahoe County location.

Egitto has partnered with Heirborn Partners on various commercial real estate transactions since 2015. “The market for industrial real estate transactions remains strong,” commented Egitto. “It’s exciting to work with clients who make a positive impact on our community.”

“Rick’s guidance and expertise made this transaction an effortless and smooth experience for all parties,” said Mike Connor, Managing Partner of Heirborn Partners L.L.C. “I look forward to partnering with Avison Young again in the future.”

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.



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