Commerce Citys Growth and Real Estate Opportunities February 2, - - PowerPoint PPT Presentation

Commerce City’s Growth and Real Estate Opportunities

February 2, 2018

Commerce City is redefining itself for the next generation, building on historic values of community, industry and family.

A Growing City

Commerce City at a Glance

Square Miles 35 Population 53,364 Average Median Age 30.7 Average Wage $57,012 Households 15,508 Labor Force 27,771 Employment 29,633

Major Primary Employers

United Parcel Service (UPS) 2,700 Shamrock Foods 860 FedEx Freight Inc. 630 FedEx Ground Package Systems 600 Suncor Energy USA 420 Douglass Colony Group 400 Old Dominion Freight Lines 370

Capital Improvements

Ballot Issue 2K

In 2013, voters approved a 1% sales tax increase to fund

• ngoing capital improvements, including
• Widening of Tower Road from E. 80th to E. 104th Avenues
• A new recreation center at Second Creek
• An outdoor leisure pool at Pioneer Park
• Three neighborhood parks at Fronterra, Turnberry and

Villages at Buffalo Run East

• Additions to existing recreation center

New Bison Ridge Recreation Center

Location: E. 112th Avenue and Potomac Street Size: 106,000 square feet

• Indoor pool, gymnasium,

weight/fitness area, dance/aerobic studio, gymnastics center, walking, jogging track

• Completed: Spring 2018

Commerce City, Colorado

Demographics 2015 2020 City Population 53,650 59,663 (11.21% growth) Residential Development – Northern Trade Area

As of April 2015

Entitled Lots at Full Build-Out 35,063 Permitted Lots 11,008 Certificates of Occupancy 10,305 Active Housing Developments 20

SOURCE: The Retail Coach, Community Demographic Profile, April 2015

Rocky Mountain Arsenal National Wildlife Refuge

Retail Opportunities Residential Future Mixed Use Employment Average Daily Traffic Counts

North Metro Corridor Commuter Rail Line

East 72nd Ave Commuter Rail Station Commercial Arterial Improvements

Increased Project Activity

Payment Export Goods/Services Pay employee wages, suppliers and contractors

External Market

Primary jobs bring new wealth to a community

residential homes retail goods health care & professional services

Secondary Jobs

(Primary Jobs) EMPLOYER

Recent BREA Projects

• 76,000 SF facility
• 25 jobs
• $7.1 million in CI
• 20.25 acres
• 216,000 SF facility
• 255 jobs
• $30 million in CI
• 55 acres
• 234,000 SF facility
• 92 jobs
• $14.5 million in CI
• 45,000 SF additions
• 77 jobs-7 new
• Test track-E-470 land
• 138 jobs
• Average salaries >$100k
• $4.4 million in CI
• 587 retained or new jobs to the city
• 571,000 SF new industrial construction
• $56 million in new capital investment

Irondale Project:

• 55 acres
• 234,000 SF facility
• 92 jobs
• $14.5 million in CI

McLane Foodservice:

• 20.25 acres
• 216,000 SF facility
• 255 jobs
• $30 million in CI

20.25 acres

Nexus at DIA

Total Existing SF Vacancy Rate

Office 445,311 SF 16.4% Retail 1,470,328 SF 3.4% Flex 243,132 SF 4.7% Industrial- warehouse/distribution 7,378,785 SF 2.1% Industrial-all other 2,381,002 SF 1.1%

Commerce City’s Existing Commercial Real Estate Product Mix

SOURCE: 4Q 2017 CoStar Realty Information

Commercial Vacancy and Lease Rates by Property Type

Planned Office/Industrial Development

171,500 SF industrial buildings planned 676,200 SF industrial buildings planned 57,000 SF industrial buildings planned 203,700 SF industrial building planned 540,800 SF industrial building planned 19,500++ SF speculative industrial building planned

TOTALS:

• 1.67 million SF industrial proposed
• 77,890 SF office proposed

*All projects are proposed and in various planning stages.

Some projects may not move forward!

57,890 SF office building planned 20,000 SF retail/office building planned

Mile High Greyhound Park

Vasquez Blvd 62nd Avenue 64th Avenue Hotel Commercial

Technical Training Institution

Commercial

Single Family Homes

Townhomes Mixed-use Walk-up Residential Walk-up Residential

Rocky Mountain Arsenal National Wildlife Refuge

Settlers Crossing

Nob Hill Third Creek Prime Sites Reunion

Reunion Fronterra Village Allied Waste Land Fill Prairie Farm Turnberry Buffalo Highland and Second Creek Farm

Reunion

Reunion Center

Buckley Crossing

E-470/Aerotropolis Development Opportunities

TR Ranch

NEXUS North

NEXUS at DIA

There are twelve square miles of available land in Commerce City that are adjacent to Denver International Airport (DIA).

Transit Oriented Development

RTD’s FasTracks program includes a North Metro commuter rail line currently under construction. The 18.5 mile electric commuter rail line is scheduled for completion at the end of 2018,

• pening in 2019

Commerce City will have a station stop at

• E. 72nd Avenue at Colorado Blvd. There is

a Master Plan for the station area and there are several sites available for transit-oriented development.

Station Area Master Plan

Business Assistance/Incentive Tools

City

• Dedicated assistance throughout site selection, development and business opening
• Reduced development costs
• partial permit fee rebates
• sales/use tax rebates for construction materials
• Additional city sales/use tax rebates
• Executive/employee relocation assistance if needed
• Supply chain referral program
• Workforce hiring and training assistance with partners
• Site security referrals from city police department

County

• Personal Property Tax Rebates (needs $/$ match from the city)

State

• Enterprise Zone Program - state income tax credits
• 3% new personal property investment
• Employee hiring/training credits
• R&D expenditure credits
• No state sales/use tax for manufacturing equipment purchases (2.9% savings)
• CO First/Existing Industry employee training grants
• “Job Growth” incentive tax credits or Strategic Fund grants (needs $/$ match from the local community)

A.

Thank you!

www.RedefiningCommerce.com