Majestic Commercenter flexibility supports tenants' growth within park borders  
January 25, 2008
 
Media Contact:    
Marty Schechter for Majestic Realty Co.
303.987.8163

marty@schechterpr.com

AURORA, Colo. – With a master-planned business park designed to meet the needs of diverse distribution and warehousing tenants, Majestic Realty Co. today announced a creative approach to meet the changing needs of two, long-term tenants at its Majestic Commercenter Park.

Core-Mark Midcontinent, LLC has expanded its Majestic Commercenter footprint through a lease agreement to occupy 182,000 square feet in the 280,000-square-foot Building #23 at the company’s Majestic Commercenter Park, located at the northeast quadrant of I-70 and Tower Road. The agreement represents an increase of 41,000 square feet for Core-Mark to help meet the company’s growth in the regional marketplace. The facility is one of Core-Mark’s 14 U.S. distribution centers providing food and non-food products to more than 30,000 convenience store retailers.

To meet Core-Mark’s space requirements, Majestic Realty will relocate Building #23 neighbor, Rocky Mountain Portable Storage, LLC, dba Portable On Demand Storage, PODS®, into Building #24, one of the Park’s newest, most efficient warehouse designed properties.

A tenant since 2004, PODS has also enjoyed tremendous success in the regional marketplace and, thanks to the resourceful design of the Building #24 property, will be able to meet its warehousing needs in the new, cost-effective location. PODS’ footprint will actually be reduced by 15 percent to just shy of 60,000 square feet when it relocates into Building #24 in spring 2008.

Financial details of the transactions were not disclosed.

Building #24 features 30-foot ceiling clearance, 50 dock-high doors, six ground level ramps, 50-foot by 55-foot bay spacing, a 130-foot truck courtyard with cross-dock design, and an ESFR sprinkler system. Currently, the property has 150,000 square feet available which can be divided to as little as 17,000 square feet.

“We purposefully designed our master-planned park to fulfill the demand and needs of industrial users as they grow and their needs change,” said Majestic Realty Vice President Randy Hertel. “Core-Mark and PODS have both established their presence in our park and now have the opportunity to carry that momentum forward through their stability and growth opportunities within our park’s expansive borders.”

Since the opening of the Majestic Commercenter, Majestic Realty has developed 2.2 million square feet of Class A industrial properties for more than 20 companies who employ more than 1,000 employees at the park.

“The Aurora Economic Development Council compliments Majestic Commercenter on its progressive business plan that accommodates the changing needs of its client tenants,” said Wendy Mitchell, president and CEO of the Aurora Economic Development Council. “This plan contributes to Aurora’s competitiveness in retaining and competing for logistics, manufacturing and distribution companies.”

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About Majestic Realty Co.

Founded in 1948, Majestic Realty Co. is one of the nation’s oldest and largest privately held real estate firms, with an office, retail and industrial portfolio totaling approximately 70 million square feet. The Southern California-based company is a diversified real estate developer specializing in the planning and development of premier master planned business parks and retail centers. Headquartered in City of Industry, Majestic Realty also has offices in Atlanta, Dallas, Denver and Las Vegas. For information or leasing opportunities, visit
www.majesticrealty.com.

 

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