Denver-based Westfield Company, Inc. has unveiled its plans for Hub 25 this week, a new project that will transform the vacant site of the former Mapleton High School in Central Denver into a 421,500 square foot Class A industrial space. The new development at 601 East 64th Avenue will include four buildings that can accommodate users from 20,000 square feet up to the full capacity of 421,500 square feet, with build-to-suit opportunities available. Westfield will be speculatively building the project, the cost of which has not yet been disclosed.
"Hub 25 is one of the most highly sought-after land sites that Denver has ever seen," said Tyler Carner, senior vice president, CBRE Denver Industrial & Logistics Services. Together with CBRE's Jeremy Ballenger, the pair represented the Mapleton School District in the sale of the property, and Westfield Company has hired them to lease the project. "The combination of unparalleled I-25 signage opportunities, Class A development, small-bay space and an in-fill location in an unincorporated, Enterprise Zone sets Hub 25 apart from any industrial project developed in Denver in the last decade."
Westfield purchased the old school property from Mapleton Public Schools in December for $7.08 million, after the site sat empty for decades. "Growing up here in Denver, I've driven by the property a thousand times. In the last 20 years, it's just sat there vacant," Westfield partner Randy Schwartz told the Denver Post. "In the development world, you think, 'Oh, I've got to call on that property and sooner and later they'll come around.' That's what happened with this one." Construction at Hub 25 could begin within 30 to 45 days, Schwartz said. The final building should be ready in early 2017.
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