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.