(DENVER) – Hines, the international real estate firm, in partnership with EnviroFinance Group (“EFG”) announced that it has acquired 60 acres near the northwest corner of 56th Avenue and I-25 from Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), in the heart of the central submarket of Denver. Hines and EFG will develop a Class-A business park with approximately 860,000 square feet of office warehouse space distributed across six buildings.
Hines is currently completing the design of the industrial and logistics park, now branded as Quantum 56, whose first phase will consist of 581,250 square feet of warehouse space in both cross dock and rear load configurations. When delivered, the project will be the newest large, modern format park in the central submarket of Denver and will accommodate tenants for a range of uses, from 20,000-square-foot tenants looking for office warehouse and showroom space to larger tenants of 350,000-square-foot seeking infill, last-mile delivery locations.
Hines Director Courtney Schneider said, “I am thrilled to announce our partnership with EFG and to begin the redevelopment of Quantum 56. Our redevelopment plan for the site will result in a state-of-the-art business and logistics park serving the widest range of tenants in the central submarket, who will benefit from the central location in the heart of Denver. Quantum 56 is an ideal complement to the Hines Denver footprint and will serve as a new benchmark of quality for infill, core logistics development.”
Hines has partnered with EnviroFinance Group for the redevelopment of the site. Cameron Bertron, Senior Vice President at EnviroFinance Group stated “EFG is looking forward to another successful redevelopment in Denver. Our development partnership with Hines creates an ideal match to transform this site into a top-tier development in a one-of-a-kind location.”
Hines has selected Mitch Zatz, Jason White and Carmon Hicks from JLL to serve as leasing agents.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About EnviroFinance Group
EnviroFinance Group, LLC (EFG) is a land development company that acquires, remediates and repositions environmentally impaired real estate throughout the United States. The firm is unique in its ability to combine significant capital resources, regulatory and technical know-how, risk management, land planning and development expertise to promote socially responsible, sustainable land reuse.
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Koppers products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber, and construction industries. Koppers serves its customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia and Europe. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange under the symbol "KOP." For more information, visit: www.koppers.com.