 |
| Drew McManus |
Mead,
CO – Mark IV Capital, a private investment firm with a nearly
50-year history of commercial real estate investment and development, has
announced its acquisition of 55 acres of industrial land within Elevation25
Business Park. The
price was not disclosed.
Drew McManus, Ryan Searle, Bryan Fry and
Shannon McBroom with Cushman & Wakefield
represented both Mark IV and Silver Point in the off-market transaction. Mark
IV has additionally selected McManus and his team to manage the leasing of
Elevation25 going forward.
 |
| Ryan Searle |
“Mark
IV’s reputation for development, ownership and commitment to the region and
state were significant factors in our ability to complete this transaction off
market,” says McManus. “We’re excited to see Mark IV continue to build
upon the momentum that Brad Cushard and Stuart Platt at Silver Point have
created."
Elevation25 is located in Mead, Colorado and has the capacity to
support 1 million square feet of class A industrial product. Phase 1 of the
project – consisting of 2 industrial buildings – was recently completed by
Silver Point Development in partnership with Walker Dunlop Investment Partners
(WDIP) and financed by CIBC Bank.
 |
| Bryan Fry |
The
remaining 55 acres of Elevation25 was purchased by Mark IV from Silver Point in
an off-market transaction and will support up to seven buildings totaling
850,000 square feet.
Mark
IV plans to complete development on the land for a variety of uses, according
to Jeff Dean, senior vice president of Mark IV, who heads the firm’s
Colorado office.
“Our
firm has identified an exciting opportunity to expand our Colorado footprint
while helping to meet the area’s growing demand for top-tier industrial and
logistics space,” says Dean.
 |
| Shannon McBroom |
“We currently own a distribution facility in
Loveland and have been interested in investing in additional property in Mead
and Weld County for quite some time.
 |
Jeff Dean
|
"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.”
Elevation25
is situated at the intersection of Interstate 25 and State Highway 66, adjacent
to I-25 with 800 square feet of frontage along the major interstate.
 |
| Brad Cushard |
The business park sits between Denver and Fort
Collins and with better proximity to Interstate 80, which allows truck drivers
east/west access throughout the United States without the sometimes-hazardous
drive through the Rocky Mountains, notes Dean.
“As
Colorado’s second-fastest-growing county, Weld County is ideal for long-term
investments like Elevation25,” says Dean. “In addition, this property aligns
well with our company’s proven investment strategy of holding acquisitions for
years and even decades.”
 |
| Stuart Platt |
Silver
Point and WDIP have developed and will retain ownership of Elevation25’s 94,076
square-foot Building 1 and 109,676 square-foot Building 2, which were completed
in November 2023 and substantially leased.
Mark IV plans to break ground on the
next phase – roughly 170,000-square-feet of speculative product, in late Q4
2024. The available space will range from 20,000 to 200,000 square feet, with
the tenant profile including distributors and logistics, technology, and energy
sector companies.
CONTACT:
Sophia
Reznicek / Lexi Astfalk
The Smart Agency
(949) 438-6262
sreznicek@thesmartagency.com
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