Georgia-based Logistics Company Signs Long-Term Lease for 1.27 Million Square Feet in Brighton Industrial Park
Georgia-based Logistics Company Signs Long-Term Lease for 1.27 Million Square Feet in Brighton Industrial Park
A Georgia-based logistics company, BroadRange Logistics, has made a significant move in the industrial real estate market by signing a long-term lease for 1.27 million square feet in the 76 Commerce Center industrial park in Brighton. The company plans to move into two buildings at the site in September, marking its first location in Colorado.
BroadRange Logistics, known for its services in the green-energy sector, will be leasing the remaining two buildings in the 155-acre regional distribution center. The location of the industrial park along the Interstate 76 corridor provides access to the entire Front Range while being only 20 miles from Denver.
The lease signed by BroadRange accounts for nearly half of the total industrial leasing volume in metro Denver for the second quarter, indicating a growing demand for Class A industrial space in the area. The overall vacancy rate in metro Denver’s industrial real estate market was 9% in the second quarter, showing a healthy level of activity in the sector.
The Brighton site will also serve as a distribution center for solar panel components, further contributing to the green-energy sector. The move is expected to create dozens of jobs in the area, providing a boost to the local economy.
The industrial park’s location in Brighton was a key factor in attracting BroadRange, as it offers a deep labor pool for companies in the I-76 corridor. The addition of BroadRange at 76 Commerce Center completes the original vision for the property and the creation of the I-76 submarket, according to Paul Hyde, CEO of Hyde Development.
In addition to the Brighton lease, a joint venture between Ryan Companies US Inc. and PGIM Real Estate is set to develop the Northwest Commerce Center in Broomfield. The project will consist of two buildings totaling approximately 343,000 square feet and is expected to cater to a range of tenants in the warehousing, manufacturing, and industrial sectors.
Overall, the increased activity in industrial real estate in the north part of metro Denver signals a positive trend for the market. With companies like BroadRange Logistics and Ryan Companies making significant moves in the area, the industrial sector in Denver is poised for further growth and development.
