COLORADO
SPRINGS, Colo., Aug. 15,
2024 /PRNewswire/ -- AZ Opportunity Fund
("AZOFund") is pleased to announce the acquisition of 31.7 acres of
industrial and retail land in Colorado
Springs for the creation of the Colorado Aerospace Business
Center ("CABC"), an innovation park with the potential for over
320,000 square feet of industrial properties supported by multiple
retail pad sites.
To celebrate this milestone, AZOFund invites members of the
press and the local community to a "Launch Party" groundbreaking
event on Monday, August 19th, from
11:00 AM to 1:00 PM. This event will
offer an exclusive first look at the project and provide an
opportunity to learn more about the vision behind the Colorado
Aerospace Business Center. Please register here to attend.
The CABC will serve as a state-of-the-art hub for aerospace
companies of all stages of growth alongside traditional users of
industrial space. AZOFund master planned the business park to
exceed the specialized infrastructure needs of high-tech and
government contracting companies requiring fiber redundancy,
rooftop antenna installation, and sensitive compartmented
information facility ("SCIF") spaces. Several key forward-thinking
features include EV charging stations, heavy power, drive-in
and dock high loading, the ability to fence individual buildings
for additional security, and outdoor storage capabilities.
Located at the intersection of Bradley Road and Foreign Trade
Zone Blvd., the CABC is ideally positioned adjacent to the Colorado
Springs Airport and Peterson Space Force
Base, and near Schriever Space Force Base, Fort Carson Army Base, Cheyenne Mountain Space Force Station, and
aerospace companies of all sizes.
According to Brady Welsh,
co-founding Principal of AZOFund, "We were drawn to this strategic
location that is poised for long-term growth and are excited about
the opportunity to provide cutting-edge facilities to the aerospace
and related industries."
AZOFund has partnered with the nationally recognized
design-build firm ARCO/Murray to serve as the architect and general
contractor for the project. "We were honored to be brought in very
early in the process by AZOFund and have worked together to master
plan this dynamic business park, design Phase I and submit for
permits in advance of the land acquisition to allow for the
upcoming groundbreaking," added Charlie
McLean, ARCO/Murray. Site preparation for Phase I of the
project is anticipated in August 2024
with core and shell completion by the second quarter of 2025. Phase
I will be built on speculation with the goal of having tenants
operational by or before January
2026.
The Cushman Wakefield Colorado Springs Commercial industrial
team of Aaron Horn and Heather McKeen, and Tyler Smith from the Cushman and Wakefield
Denver office have been selected to handle the leasing. According
to Heather McKeen, "The SE Colorado Springs market is one of the
fastest growing areas in the city with significant demand from a
wide range of industries including aerospace, food and beverage
distribution, e-commerce, and construction supply companies."
The CABC is also located within multiple economic development
zones offering a blend of incentives and tax credits to foster
business growth, job creation and business expansion including the
Pikes Peak Enterprise Zone, Opportunity Zone (OZ), Foreign Trade
Zone (FTZ), and Commercial Aeronautical Zone (CAZ).
AZOFund was represented by Sherpa Commercial Real Estate, and
the seller was represented by Chuck
Armstrong with Weichert Realtors Pikes Peak Group in the
land transaction.
To learn more about the Colorado Aerospace Business Center and
for leasing inquiries, please visit:
AerospaceBusinessCenter.com.
About AZ Opportunity Fund
AZ Opportunity Fund
specializes in the development of industrial real estate projects
designed for the mid-sized users of warehouse, manufacturing, and
flex properties. By focusing on assets poised for long-term capital
appreciation, AZOFund strives to drive investor value by executing
on strategic development projects and to help transform the
communities we invest in. For more information, please visit
www.AZOFund.com.
About ARCO/Murray
ARCO/Murray is a single-source national design and construction
firm specializing in commercial construction and real estate needs
for Fortune 500 companies and individual businesses. From planning
to execution, ARCO/Murray's expert team uses the most advanced
design-build methodology to deliver the very best client
experience. To learn more about ARCO/Murray, visit
www.arcomurray.com.
About Cushman & Wakefield
Cushman & Wakefield
is an international commercial real estate firm specializing in
local and national representation for landlords and
occupiers. The strength of the Cushman & Wakefield
platform provides the greatest exposure for properties securing the
highest quality tenants. For more information
visit www.cushmanwakefield.com
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SOURCE AZ Opportunity Fund, LLC