DENVER, CO – Trammell Crow Company (TCC), along with capital partner Principal Real Estate Investors (PREI), announces the first full-building lease transaction signed at Crossroads Commerce Park (Crossroads) at the southwest corner of 55th Avenue and Washington Street in Unincorporated Adams County.
Based in Huntersville, North Carolina, American Tire Distributors (ATD) has been servicing the Denver market for eight years. As the first full-building tenant at Crossroads, ATD sees this convenient location, with its accessibility to the I-25 and I-70 interstates, as an opportunity to expand its service level to retail customers in and around the Denver marketplace. The new 127,000-square-foot building at Crossroads represents a relocation and expansion for ATD, which is currently located at 58th Avenue and Washington Street in Denver. The company is one of the largest independent suppliers of replacement tires in North America, with more than 140 distribution centers across the U.S. and Canada.
"ATD constantly strives to provide its customers with unsurpassed service and product availability," said Ron Sinclair, ATD's Senior VP of Marketing. "This new distribution center with prime interstate access will further enhance our service and support to our customers in the Denver area."
Ann Sperling, Senior Director of TCC said, “We are thrilled to welcome ATD to Crossroads Commerce Park and appreciate their confidence and commitment to our industrial project. It is very exciting to have a full building lease completed within weeks of our official groundbreaking. ATD’s tenancy underscores the compelling central location, ease of access to key interstate highways, and the convenience to customers which the site represents. We value the fact that they chose our site to complete their Denver expansion and consolidation of regional operations.”
Crossroads Commerce Park is a modern, master-planned development of nearly 1 million square feet of Class A industrial space in multiple buildings. The flexible site plan at Crossroads provides for building sizes from 17,000-to-376,000 square feet with cross dock, front park/front load and front park/rear load designs. TCC and PREI purchased the 36 acres adjacent to this parcel in July and commenced construction on three speculative industrial buildings equaling 640,000 square feet at Crossroads. Empire Staple Company plans to occupy a build-to-suit facility on 4 acres at the northwest corner of the park in 2016. Future phases will include individual buildings on a build-to-suit basis for users for sale or lease. Murray & Stafford is the general contractor, and Ware Malcomb is the architect for this new 127,000-square-foot building to be fully occupied by ATD, and for the rest of the project.
The Newmark Grubb Knight Frank team of Mike Wafer and Tim D’Angelo represented Trammell Crow Company in the transaction. Josh Allred, from Jackson Cooksey, represented American Tire Distributors.
About Trammell Crow Company
Trammell Crow Company (TCC), 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, 2015, TCC had $6.0 billion of projects in process and $3.7 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, multi-family 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.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $59.3 billion in commercial real estate assets . The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®. For more information, visit www.principal.com.
About American Tire Distributors
American Tire Distributors is one of the largest independent suppliers of tires to the North American replacement tire market. It operates over 140 distribution centers serving approximately 72,000 customers across the U.S. and Canada. The company offers an unsurpassed breadth and depth of inventory, frequent delivery and value-added services to tire and automotive service customers. American Tire Distributors employs approximately 4,000 employees across its distribution center network, including approximately 400 employees in Canada. For more information visit: www.ATD-US.com.