Aurora, Colorado, Oct. 31, 2017 (GLOBE NEWSWIRE) -- United Parcel Service, Inc. (NYSE: UPS) announced today its first distribution center in Aurora, Colorado. The company signed a 10-year lease for the entire 360,000 square foot building located in Consolidated Investment Group’s (CIG) East Park 70 industrial park. More than 700 new jobs will be created with this facility when it is fully operational in late 2018. Operations are expected to begin this year in time for the busy holiday shopping season.
The Class A warehouse is located at I-70 and E Smith Rd. This state-of-the-art facility was completed in late 2016 to serve the metro area’s thriving industrial market.
“We are excited to have a reputable national tenant like UPS choose our park to grow its expanding metro area business,” said CIG Vice President Tim Bertoch. “This transaction further validates the East Park 70 location as a highly viable regional logistics and distribution hub.” CIG intends to continue its speculative development program at this location this year and into 2018. When fully built out, the park will consist of more than 1.4 million square feet of industrial space.
Construction of the facility began in late 2015 as part of a CIG speculative development phase, which included the large warehouse as well as an adjacent 81,000-square-foot, rear-loaded warehouse with 3 acres of secured outdoor storage area. Bertoch noted that interest in both of East Park 70’s buildings from local and national tenants has been strong throughout the development process.
This news comes soon after the recent opening of the Amazon fulfillment center, also located in the City of Aurora. “Aurora is a powerhouse in the industrial real estate market and we are happy to welcome UPS to the city,” said City of Aurora Mayor Steve Hogan. “It is because of our assets like East Park 70, that we continue to attract Fortune 500 companies. I’m proud of the partnerships that make these projects a reality, create jobs for our residents, and drive economic vitality in Aurora. With the continued growth of the metro area, it’s more important than ever that we show the world that Aurora is open for business.”
“We are thrilled to have helped UPS establish a presence in our city. This is one more example of how attractive Aurora is to businesses,” said Aurora Economic Development Council President and CEO, Wendy Mitchell. “As a city, we have shovel ready land, quality developers like CIG, and a diverse workforce among many other qualities. Companies across the globe are eyeing Aurora because of all that we can offer.”
The Aurora Economic Development Council focuses on attracting and retaining primary employers like UPS by working with businesses, developers, local government and the public sector, and many other parties through a comprehensive process. Mitchell added, “Our continued focus on aligning our economic development efforts with primary employers’ needs is a large part of why we have been so succesful. We look forward to having UPS’ operations and partnership in the city, and to bring so many new jobs to the community. We truly believe that Aurora is the best business address in the West.”
About CIG
Consolidated Investment Group (CIG) is an entrepreneurial investment company that manages a diverse portfolio valued in excess of $1.5 billion. Since 2003, CIG has actively invested in private equity, capital markets, real estate, and philanthropy. The company’s mission is to preserve and grow its shareholders’ capital for current and future generations and to support their philanthropic endeavors. It accomplishes this through innovative processes and a results-oriented team. CIG is committed to an environment founded on high ethical standards that puts its people first, fosters collaboration, and inspires dedication. CIG invests domestically and internationally through operating partners, direct investment, and opportunistic funds. Learn more about CIG at www.ciginvest.com.
About The Aurora Economic Development Council
A partnership between business and government for more than three decades, the Aurora Economic Development Council champions Colorado’s most promising growth industries including aerospace and defense, bioscience, transportation logistics and energy, positioning Aurora and Colorado to win new jobs in an intensely competitive market. We create new primary jobs through innovative deal creation, strategic partnerships, and by advocating for economically sustainable public policy. The Aurora Economic Development Council is a private, not-for-profit 501(c)(6) corporation comprised of the leading 100 companies in the Aurora/Denver metro area, the city of Aurora, and Adams and Arapahoe Counties. A-List, Colorado’s premier business event of the metro area that brings together 2,000 regional business, political and civic leaders to celebrate the economic successes of the region, is produced by the Aurora Economic Development Council. For more information on the Aurora Economic Development Council, visit www.auroraedc.com.
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