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Released August 16, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The surging growth of e-commerce in the United States has placed a huge strain on warehouse and distribution space. The existing properties have not been able to meet the increased demand, resulting in a surge in the number of construction projects to fill the need. This burst of new construction is happening all over the U.S. as new areas are opened up for development.
Municipalities are looking to attract these projects in order to provide jobs for their citizens and expand their tax base. This has real estate developers and other entities searching for locations that provide as many advantages as possible to potential tenants, with proximity to a trained workforce and a well-developed transportation infrastructure being among the top considerations. With these and other factors in mind, certain areas are stepping up to ensure that their cities are not missing out on these large developments, which easily run into the tens of millions of dollars in land acquisition costs and construction alone.
The city of Aurora, Colorado, is one of those municipalities that has been able to land several of these large projects. Its position just 10 miles outside of Denver near interstate highways 25 and 70 and its proximity to the Denver International Airport and the Union Pacific (NYSE:UNP) (Omaha, Nebraska) Denver intermodal rail yards, provide the needed transportation options. Denver's proximity provides a well-trained workforce. Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington) is a major player here, with one fulfillment center already in operation and another in the planning stages, which in total will represent 1.4 million square feet of space when completed. Walmart Stores Incorporated (NYSE:WMT) (Bentonville, Arkansas) also has a major facility in development in Aurora.
Several real estate development firms are working on speculative projects in Aurora as well. Majestic Realty Company (City of Industry, California) is developing the Majestic Commercenter near the Denver International Airport in Aurora, a 1,500-acre master-planned business park. Prologis Incorporated (NYSE:PLD) (San Francisco, California) is adding more space to the 300-acre Prologis Park 70 development and has already landed several prominent tenants, including one of the Amazon facilities. DCT Industrial Trust Incorporated (NYSE:DCT) (Denver, Colorado) is constructing the DCT Summit Distribution Center on 13 acres. Becknell Industrial (Lyons, Illinois) is nearing completion of a $10 million facility at its 19-acre development, and Opus Holding Incorporated (Minnetonka, Minnesota) is constructing a facility on 6.4 acres in the Rangeview Industrial Center.
These projects alone represent an investment of $351 million and will boost the area's employment opportunities. This may serve to attract other projects to the region, as long as there is available space to develop, the market continues to grow at its present rate and the local government continues its support of such ventures.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Municipalities are looking to attract these projects in order to provide jobs for their citizens and expand their tax base. This has real estate developers and other entities searching for locations that provide as many advantages as possible to potential tenants, with proximity to a trained workforce and a well-developed transportation infrastructure being among the top considerations. With these and other factors in mind, certain areas are stepping up to ensure that their cities are not missing out on these large developments, which easily run into the tens of millions of dollars in land acquisition costs and construction alone.
The city of Aurora, Colorado, is one of those municipalities that has been able to land several of these large projects. Its position just 10 miles outside of Denver near interstate highways 25 and 70 and its proximity to the Denver International Airport and the Union Pacific (NYSE:UNP) (Omaha, Nebraska) Denver intermodal rail yards, provide the needed transportation options. Denver's proximity provides a well-trained workforce. Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington) is a major player here, with one fulfillment center already in operation and another in the planning stages, which in total will represent 1.4 million square feet of space when completed. Walmart Stores Incorporated (NYSE:WMT) (Bentonville, Arkansas) also has a major facility in development in Aurora.
Several real estate development firms are working on speculative projects in Aurora as well. Majestic Realty Company (City of Industry, California) is developing the Majestic Commercenter near the Denver International Airport in Aurora, a 1,500-acre master-planned business park. Prologis Incorporated (NYSE:PLD) (San Francisco, California) is adding more space to the 300-acre Prologis Park 70 development and has already landed several prominent tenants, including one of the Amazon facilities. DCT Industrial Trust Incorporated (NYSE:DCT) (Denver, Colorado) is constructing the DCT Summit Distribution Center on 13 acres. Becknell Industrial (Lyons, Illinois) is nearing completion of a $10 million facility at its 19-acre development, and Opus Holding Incorporated (Minnetonka, Minnesota) is constructing a facility on 6.4 acres in the Rangeview Industrial Center.
These projects alone represent an investment of $351 million and will boost the area's employment opportunities. This may serve to attract other projects to the region, as long as there is available space to develop, the market continues to grow at its present rate and the local government continues its support of such ventures.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
