Hines, in partnership with EnviroFinance Group (EFG), has acquired 60 acres near the northwest corner of 56th Avenue and I-25 from Koppers Inc. in the heart of the central submarket of Denver.
Hines has partnered with EnviroFinance Group for the redevelopment of the site.
Hines and EFG will develop a Class-A business park with approximately 860,000 square feet of office warehouse space distributed across six buildings.
Hines is currently completing the design of the industrial and logistics park, now branded as Quantum 56, whose first phase will consist of 581,250 square feet of warehouse space in both cross dock and rear load configurations.
When delivered, the project will be the newest large, modern format park in the central submarket of Denver and will accommodate tenants for a range of uses, from 20,000-square-foot tenants looking for office warehouse and showroom space to larger tenants of 350,000-square-foot seeking infill, last-mile delivery locations.
Hines Director Courtney Schneider said, “I am thrilled to announce our partnership with EFG and to begin the redevelopment of Quantum 56. Our redevelopment plan for the site will result in a state-of-the-art business and logistics park serving the widest range of tenants in the central submarket, who will benefit from the central location in the heart of Denver. Quantum 56 is an ideal complement to the Hines Denver footprint and will serve as a new benchmark of quality for infill, core logistics development.”
Cameron Bertron, Senior Vice President at EnviroFinance Group stated “EFG is looking forward to another successful redevelopment in Denver. Our development partnership with Hines creates an ideal match to transform this site into a top-tier development in a one-of-a-kind location.”