DENVER, CO (October 30, 2014) – EnviroFinance® Group (EFG) has announced its plans to sell 77± acres of commercial infill land located near the I-25 / I-70 interstate “crossroads” in unincorporated Adams County and the City of Denver. Trammell Crow Company (TCC) has entered into an agreement with Globeville I, LLC, an EnviroFinance® Group company, to acquire the site and develop up to 1 million sq.ft. in multiple buildings to be known as Crossroads Commerce Park at Globeville. Phase I of the multi-phase project is slated to commence construction in Summer 2015. The project is expected to include both lease and build-to-suit opportunities.
Globeville I, LLC has spent the last four years working in concert with the Trust created out of ASARCO’s bankruptcy to complete cleanup of the site to allow for commercial and industrial redevelopment. Globeville I, LLC will also complete the preliminary site development before sale of the property to Trammell Crow Company. “We’ve worked with agencies at the Federal and State level, as well as Adams County, the City of Denver and community stakeholders for many years to bring this property to this point,” said Stuart Miner, President of EFG and its affiliated companies. “We’re very excited to partner with TCC to move this project forward into the vertical phase of development.” “To put this property back into productive use is a once in a generation opportunity for Adams County and Denver,” said Barry Gore, President and CEO of Adams County Economic Development.
The property’s zoning allows for a wide range of industrial and commercial uses. Situated in both Adams County and Denver, the site is just north of Downtown Denver at the corner of 55th Avenue and Washington Street. “This site provides a rare opportunity for a prime infill development, with the potential to bring vital new jobs to Adams County and the City of Denver,” said Bill Mosher, Senior Managing Director of Trammell Crow Company’s Denver Business Unit. TCC’s Senior Director Ann Sperling added: “Our goal is to make Crossroads a prime location for companies with distribution, warehouse and manufacturing product, and related uses looking to locate or expand in the Denver market.” The Newmark Knight Grubb Frank team of Mike Wafer and Tim D’Angelo will handle the marketing of the site on Trammell Crow’s behalf.
“Crossroads Commerce Park will be a key driver in leading our region’s focus on the next generation of manufactured goods for the national and world markets”, said Denver’s Executive Director of Economic Development, Paul Washington. “Our shared vision with Adams County, EFG and now Trammell Crow, is to create a center of innovation and excellence, where our businesses and workforce are highlighted.”
With this acquisition, Trammell Crow Company continues to invest in Colorado’s Front Range, having developed a long history in industrial, office, residential, healthcare and public-private projects, including over $2 billion in projects over the past 10 years.
About EnviroFinance® Group
EnviroFinance Group, LLC (EFG), is a premier land reuse and redevelopment company with a track record for successfully remediating and repositioning environmentally challenged properties for productive reuse. The firm is unique in its ability to combine significant capital resources, regulatory and technical know-how, risk management, land planning and development expertise to promote socially responsible, sustainable land reuse. For more information please visit www.envirofinancegroup.com or contact Noah Pillsbury at 720.633.9680.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2014, Trammell Crow Company had $4.8 billion of projects in process and $1.9 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multifamily residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.