A rendering of a 205,000-square-foot industrial building at 1150 McBride Ave. in Woodland Park — Courtesy: Rendering by KSS Architects/Courtesy: The Stro Cos.
By Joshua Burd
Kushner Real Estate Group and The Stro Cos. have closed on a 16-acre development site in Woodland Park, with plans to build 205,000 square feet of new industrial space.
The joint venture said the property, located at 1150 McBride Ave., has approvals in place for a modern logistics facility at the nexus of Interstate 80 and Route 46. They will soon begin demolition on the existing 220,000-square-foot building, the former headquarters of Kearfott Guidance & Navigation, with vertical construction slated to begin this summer.
“We are extremely excited to be partnering on another great project with KRE,” said Jack Shulman, director of leasing, acquisitions and capital markets at Stro. “This is a quintessential infill location that 20 million people can be reached within a one-hour drive which makes it well suited for tenants focused on the last-mile.”
According to the developers, plans at the site call for a cross-docked facility with 36-foot clear ceiling heights and significant container and employee parking. Completion is slated for the end of the first quarter of 2022.
Stro and KRE said they can accommodate cold storage users at the building, citing their significant experience with such facilities.
“Quality development sites in infill locations are extremely scarce,” Shulman added. “The combination of identifying viable properties and the land use complexities make this project quite unique. The fact that we closed on this site with full entitlements and were able to design a building that accommodates tenants from 30,000 to 200,000 (square feet) with cross-loading that caters well to the tenant market, is a real testament to the KRE and Stro teams.
United Realty Advisors’ John Friedland and Mark Tannen represented the seller in the transaction. Evan Glanz of E Glanz Associates served as lead counsel in closing the deal and Daniele Cervino of Beattie Padovano PLLC was the environmental counsel.