McWhinney Breaks Ground on Precision Flex Industrial Space at Centerra
October 13, 2022 Posted In
McWhinney, a national real estate investment, development and management firm with expertise in commercial, multifamily, hospitality, residential and mixed-use assets, broke ground on 164,000 square feet of Class-A industrial space in Loveland. Known as Precision Industrial, the 11.6-acre site is located just off Crossroads Boulevard and I-25 in Loveland. The site is part of Centerra, a 3,000-acre master-planned community developed by McWhinney at the intersection of I-25 and U.S. Hwy. 34.
The 164,000-square-foot building, slated for completion in summer 2023, will be the largest speculative industrial building developed in the northern Colorado market to date. The project at 3645 Precision Dr. will feature 32-foot clear ceiling heights, up to 286 parking spaces, four drive-in doors and 22 dock doors with knockouts for many more. The site will offer immediate access to I-25, landscaped plazas with shade and seating, and a location within the vibrant community fabric of Centerra, close to restaurants, shopping, entertainment, trails and nature.
“This latest industrial project is part of our intentional effort to elevate the size, quality and flexibility of warehouse and distribution space in the region. Just as our Centerra Industrial campus was pioneering for the market at the time it began, Precision Industrial reflects McWhinney’s ongoing commitment to be a market leader in the delivery of Class-A industrial product,” said Clyde Wood, vice president of commercial and mixed-use development at McWhinney.
Precision Industrial will be located east of Centerra Industrial, a development of six buildings totaling more than 650,000 square feet — now 100% occupied by users, including Colorado-based Bobo’s. Workers who commute from other areas along the Front Range will soon be able to take advantage of the Centerra-Loveland Station mobility hub, with express bus service extending from Fort Collins to Denver slated for 2023.
McWhinney has partnered with broker CBRE to offer competitive lease opportunities. CBRE First Vice President Mike Eyer said, “The market fundamentals of low vacancy rates and strong rental growth combined with strong demand from tenants continue to support industrial development in northern Colorado. Tenants are always going to seek best-in-class product, which we will provide at Precision Industrial.”
Project partners include architect Ware Malcomb and general contractor Golden Triangle.
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