A new Class A industrial project planned for Commerce City has secured a construction loan and joint venture equity. With financing in place, the 466,000-square-foot Commerce Yards is set to begin construction in April 2026.
Financing Details for Commerce Yards Development
In an official news release, commercial real estate firm JLL Capital Markets announced that it has secured $77.1 million in total project financing for Commerce Yards on behalf of the project developer Lincoln Property Company.
The package also includes a joint venture from a confidential partner alongside a construction loan from First Horizon Bank.
Commerce Yards’ equity placement process by JLL Capital Markets was helmed by its Senior Managing Director, Peter Merrion along with Senior Director Will Mogk and Director Rob Key.
The debt financing was arranged by Senior Managing Directors Leon McBroom (Denver) and Jim Curtin (Dallas).
Project Overview and Features
Commerce Yards, the latest Class A industrial development, will feature three buildings. Sizes of each can vary from 113,000 to 200,000 square feet.
As a low-coverage warehouse project, the Commerce City property will provide a 14-acre space. This feature will be helpful for those looking for outdoor storage purposes.
Located at the intersection of 96th Avenue and Heinz Way, the development will offer a convenient access to Interstate 76, E-470, and US 85. It will also be easily reachable to Interstate 25, which is around 1.5 miles from the I-76 interchange.
In addition, the industrial property’s proximity to Denver International Airport could benefit tenants. Downtown Denver is also merely 20 minutes away from the latest project site.
Commerce Yards is ideally positioned within the I-76 Corridor. With this, the industrial development is expected to benefit from around 4,200 businesses. Additionally, the area has a strong blue-collar workforce, which consists of 38.5% of local residents who are employed in manufacturing, trade, and other labor-intensive industries.
Construction of Commerce Yards is expected to wrap up by May 2027.
Infrastructure and Zoning Advantages
Commerce Yards is zoned to allow 50% of the site for outdoor storage. This enables the latest Colorado project to receive a yard-to-building ratio that is much higher than usual industrial projects. Each of the three buildings at Commerce Yards features a height of 28 to 32 feet and has rear-load configurations. Other features include ample loading positions and roughly 4,000 amps of power.
Apart from this, the industrial property has access to railed tracks and is located within an Enterprise Zone, which would result in tax benefits for tenants.
Target Market and Economic Impact
The target tenant groups of Commerce Yards are from construction, logistics and distribution, energy and utilities, and machinery and materials categories. Collectively, these groups make up about 77% of the industrial market in Denver’s northeastern region.
“We’re excited to bring this unique project to market and deliver solutions that truly meet the needs of today’s companies,” said Scott Caldwell, Executive Vice President at Lincoln Property Company.
Peter Merrion explained how the outdoor yards at Commerce Yards address a gap in the market, “There has not been any large-scale development of lower coverage industrial in the Denver market, yet we’re consistently seeing tenants seek out a best-in-class warehouse with such a feature. This development directly addresses that unmet demand.”
JLL has provided commercial real estate and investment services worldwide for over 200 years. Based on its offerings in commercial, industrial, residential, retail, and hotel properties, the Fortune 500 company currently makes yearly revenue of roughly $23.4 billion. Its operations span across 80 nations, and it has a network of over 113,000 employees.
JLL’s Capital Markets comprises over 3,000 Capital Markets specialists globally with offices in around 50 countries. It offers investment sales and advisory, M&A and corporate finance, debt advisory, net lease, and more services.
Lincoln Property Company offers real estate services at all stages of projects in offices, life science, multifamily, healthcare, government, and more sectors. The services span across the U.S., Europe, and the United Kingdom.
The private firm’s combined leasing and management portfolio for institutional clients covers over 720 million square feet of commercial space.
First Horizon Corporation is among the nation’s best employers by Fortune and a Top 10 Most Reputable U.S. Bank by Forbes. Headquartered in Memphis, the company had $83.2 billion in assets by September 30, 2025. Its banking subsidiary, First Horizon Bank, served 12 states in the southern U.S.
With the newly secured financing, Commerce Yards is poised to deliver modern, low-coverage industrial space to the Denver market.
