Cushman & Wakefield National Industrial
9500 W. Bryn Mawr Avenue
Suite 600
Rosemont, IL 60018
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Media Contact: Evelyn Weiss Francisco: evelyn@caryl.com, (201) 796-7788, www.twitter.com/carylcomm
Modern Product, Workforce Draw Tenants to Southeast Denver Market
ENGLEWOOD, Colo., Nov. 10, 2015 – J.R. Butler, a commercial glass and fenestration organization, will relocate its headquarters to 81,000 square feet at 8535 Highfield Parkway in Englewood following a long-term lease orchestrated by commercial real estate services firm Cushman & Wakefield.
The company will relocate and expand in the Southeast Denver submarket from Central Denver. Sam Slaton, Matt Trone and Steve Hager, based in Cushman & Wakefield’s Denver office, represented J.R. Butler in the transaction.
“Our client’s new headquarters will be located in a brand-new, state-of-the-art facility that can accommodate its engineering, manufacturing and installation operations,” Slaton said. “The Southeast Denver submarket continues to attract industrial space users like J.R. Butler with its modern product and access to a well-educated workforce.”
The building at 8535 Highfield Avenue was built on spec and is now fully leased by J.R. Butler and a call center tenant. According to Slaton, its rapid lease-up is indicative of strong demand in the regional market. “In Denver, we have seen a lot of speculative projects lease-up before completion or shortly thereafter, reflecting tenants’ desire for new, state-of-the-art industrial space,” he said.
Currently, 1.76 million square feet of new speculative industrial product is under construction in Denver, with deliveries scheduled between the end of this year and July of next year. At the same time, Cushman & Wakefield recorded 717,000 square feet of absorption during the third quarter alone, and is tracking 15.3 million square feet in active requirements by tenants and buyers. As such, a supply/demand imbalance will continue, keeping the market’s already low (4.0 percent) vacancy rate in check.
Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management and industrial consulting including labor and demographic analysis. In 2014 globally, this group completed more than 8,200 industrial lease and sale transactions, including Capital Markets transactions, totaling nearly 337 million square feet with an aggregate value in excess of $16.8 billion.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
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About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Cushman & Wakefield Industrial