The Aurora Economic Development Council and NorthPoint Development announced the Stafford Logistics Center located in Aurora and Arapahoe County, Colorado has broken ground during an on-site event. The new 350 acre, $300 million master planned industrial and logistics business park is located at the confluence of I-70, E-470, E. Colfax Ave., and Picadilly Road and is the first of its kind and one of the largest commercial projects with industrial warehouse space in Arapahoe County. When fully occupied, the Stafford Logistics Center is expected to generate more than 2,500 jobs in its 4.4 million square feet of space.
“Stafford Logistics Center is a project that we began working on in the fall of 2018. We’ve witnessed the explosive growth of Aurora and the surrounding Metro area and couldn’t be more excited about the opportunity to serve our tenants and customers in the marketplace,” said Jed Momot, NorthPoint Development’s Chief Strategy Officer and Partner. “The park has been master planned to accommodate tenants ranging from small manufacturers up to large e-commerce businesses to serve their customer base on the Front Range. The Stafford Logistics Center will also include opportunities for mixed use, hotel, restaurant, retail, etc. at the north east corner of Picadilly and Colfax.”
A total of 10 buildings are planned, ranging from 200,000 square feet to 1,000,000 square feet in size. NorthPoint Development is planning to deliver building one, a 598,000 square foot industrial cross dock warehouse in Q2 to Q3 2020. The remainder of the park can be redesigned to accommodate current build-to-suit requirements in the marketplace. Mixed use components will bring valuable amenities to the area.
In the future, the property will benefit from a new interchange at I-70 and Picadilly on the east edge. Ancillary development will bring further identity, labor and amenities to the area. With significant enhancements to E-470 including the recent completion of the Stephen D. Hogan Parkway, accessibility in the area is steadily improving.
“Many new businesses are taking advantage of Aurora’s strategic location and the ample land available for big development projects, and we are very pleased to have the Stafford Logistics Center joining us with new investment in Aurora,” said Aurora Mayor Bob LeGare. “This project will bring new businesses, new jobs and significant investment not only to Aurora, but to the entire Front Range.”
The Stafford Logistics Center is NorthPoint Development’s first entry into the Colorado market, bringing significant experience, expertise and connections to other markets and big-name companies including Chewy.com, Home Depot, Amazon, Lowe’s, General Motors, UPS, Jet.com, Continental Tire, Spectrum Brands, and Patagonia.
“This project is a major asset for Aurora, Arapahoe County, and the region and is a significant economic development catalyst,” said Wendy Mitchell, President and CEO of the Aurora Economic Development Council. “We greatly value our partnership with NorthPoint Development as an innovative developer that has the foresight to come into a competitive market and work in unison to champion the implementation of valuable infrastructure improvements in the area. They know what they’re doing and have an impeccable track record of driving transformational projects.” Mitchell added, “Aurora has been the clear leader in industrial product development on the front range over the last few years, and eCommerce is the new generation of industrial demand. We’re well positioned to meet the market’s demand and can offer easy accessibility to major transportation corridors and the fifth most connected and busiest international airports in the U.S. plus a concentrated skilled workforce.”
According to research compiled by NorthPoint Development, within a 25-minute drive time radius, 125,000 individuals are available within the targeted labor pool and labor supply exceeds demand to support up to an additional 3,000 workers. With an above average projected population growth over the next five years.
Cushman and Wakefield is the exclusive listing agent for the property.