Candelas Innovation Park in Arvada lands first tenant

0 2 minutes read

Candelas Innovation Park Welcomes Aerospace Tenant to Newly Developed Industrial Site in Arvada

Candelas Innovation Park, a cutting-edge industrial site located in Arvada, has secured its first tenant, an aerospace company that has leased over 61,000 square feet in Building 1.

Jeremy Kroner, Senior Vice President at CBRE, stated, “This transaction underscores the strong demand for modern industrial space in the West and Northwest submarkets, highlighting Arvada’s key role in the region’s advanced manufacturing sector.” Kroner, along with Vice Chairman Jim Bolt, represented the landlord, OCC Industrial.

OCC Industrial, a Denver-based real estate developer and investor, acquired the 31.64-acre parcel of land in 2023 from Cimarron Commercial for just over $4 million.

Situated at the corner of Colorado 93 and Colorado 72, Candelas Innovation Park will feature four industrial buildings spanning approximately 350,000 square feet.

Located at 19850 State Highway 72 in Arvada, Colorado, Candelas Innovation Park will be a four-building, Class A industrial development. (Floor plans from CBRE brochure)

CEO of OCC Industrial, Megan O’Brien expressed excitement about the park’s first tenant, stating, “This lease validates our vision of providing top-tier industrial space in a prime location between Golden and Boulder, where Colorado’s innovation talent is concentrated.”

Phase One of the project has been completed with the construction of Buildings 1 and 2, both designed as speculative suites.

Building 1 offers approximately 82,947 square feet, while Building 2 spans around 100,238 square feet.

Building 2 provides flexible leasing options and can be divided into spaces as small as 19,583 square feet.

Both buildings feature 28-foot clear heights, 44 dock-high doors, 16 drive-in stalls, and a total of 353 parking spaces. Additionally, the park includes EV charging stations, native landscaping, and LEED certification.

Phase Two, expected to be completed within the next year, will introduce Buildings 3 and 4, measuring over 62,000 square feet and nearly 111,000 square feet, respectively.

O’Brien highlighted the park’s strategic location near major research institutions and the emerging Elevate Quantum campus, attracting leading tenants in quantum technology, aerospace, engineering, and advanced manufacturing.

Candelas Innovation Park is located in Jefferson County’s Enterprise Zone, offering state income tax credits to businesses within the designated area.

In 2024, Denver saw a significant increase in industrial leases, with new leases or expansions constituting 65.8% of total activity.

Details about the private tenant were not disclosed by representatives from OCC Industrial and CBRE.

For more business news, subscribe to our On The Block newsletter.