Avison Young brokers sale of 19.75-acre site in Centennial, CO; Opus Development Corporation to build two industrial buildings totaling 300,000 sfOctober 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.”
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For more information:
- Rick Egitto, CCIM, Vice President, Denver: +1.303.390.0955