BROOMFIELD — McWhinney, the Loveland-based developer, has secured its first industrial tenant for a new Broomfield mixed-use community it is building.
Quality Electronic Distribution, a Denver-based regional electrical distributor, is moving into more than 32,000 square feet in the new Baseline complex at Colorado Highway 7 and Interstate 25. The company serves residential and commercial contractors, industrial facilities and original equipment manufacturers. It operates more than 12 branches in Arizona, Colorado, Nevada, North Dakota and Utah, employing more than 280 associates. Baseline will be its seventh Colorado location.
While owning a building seems like something every successful business should do, that’s not always the case. For many companies, it makes more sense to continue leasing space, freeing up time and capital that can be better utilized in other ways.
Quality Electronic Distribution plans to lease approximately 32,000 square feet at Baseline. With current, active negotiations on approximately 50,000 square feet of industrial space, about 72,000 square feet remains available for other tenants looking to locate near the major I-25 and Northwest Parkway corridor. The first Baseline building was completed in June.
McWhinney plans to break ground on a second Baseline industrial building later this year. The building will consist of about 152,000 square feet west of the existing building. The first building was completed in June and has features such as 24-foot clear heights, dock-high loading and flexible space configurations making it ideal for the industrial market.
“With this development, we are continuing to be responsive to the needs of the market while also staying intently focused on delivering a high-quality project,” Ashley Stiles, vice president of development for McWhinney, said in a prepared statement. “Baseline is a unique new project that offers close proximity to Denver’s major transportation corridors and urban centers along other key community amenities, like housing, a medical campus and innovative schools.”
CBRE’s Jeremy Kroner, Jim Bolt and Frank Kelley, along with Peter Beugg of Stream Realty, served as brokers on the transaction.