The land at 4480 Elevation Drive in Mead was recently acquired by Mark IV Capital, a private investment firm with its headquarters in Newport Beach, California and an office in Broomfield. The company plans to build up to seven buildings totaling 850,000 square feet southwest of the intersection of I-25 and CO 66.
Two buildings — built by Silver Point Development LLC, based in Arizona in partnership with Denver-based Walker Dunlop Investment Partners — were completed as part of Phase 1.
The second phase of the project is expected to begin later this year. It will include a roughly 170,000 square feet of speculative product with prospective tenants of distributors and logistics, technology and energy-sector companies.
Jeff Dean, senior vice president of Mark IV, said the company identified the growing demand for industrial and logistics space.
“We own a distribution facility in Loveland and have been interested in investing in additional property in Mead and Weld County for quite some time. This transaction provided us with the ideal scenario to further engrain ourselves in the Colorado market and to deliver speculative and build-to-suit space, outdoor storage, and a five-acre park open to the public in an excellent location,” Dean stated to BizWest.