Group 89 – City Creek BTS
Thornton, Colorado
$79.2M
EB-5 Loan
$256.9M
Total Project Spending
1750
Estimated Jobs from Development & Construction
76.8%
Job Creation Buffer
17.7
Jobs Per Investor
The Group 89 Project
A Logistics Facility located within a Qualified Targeted Employment Area (TEA)
The Project
The City Creek BTS Project will consist of the development and construction of an approximately 529,000 square foot built-to-suit freezer/cooler distribution facility intended for a confidential Minneapolis-based Fortune 500 retailer (“Tenant” or “the Tenant”). The facility will be constructed on approximately 96-acres of land and will be part of the 5820 Logistics Park development in Thornton, Colorado. To complete the Project, the developer will be working with consultant Stream Realty Partners, who will be providing marketing and leasing services. The Project site is located in the thriving North Denver Logistics Submarket and will be well-positioned with direct access to the I-25 and E-470 ground transportation corridors.
The land is currently owned fee simple, and the developer has entered into a confidential Lease to Purchase Agreement (“Agreement”) for the facility with an affiliate of the Tenant. Per terms of the Agreement, the Tenant has entered into a 240-month lease agreement for the facility. The lease term commences upon construction completion and/or the Tenant’s occupancy of the premises. The Agreement also outlines the terms of the sale of the facility and obligates the Tenant to complete the purchase of the facility.
City Creek BTS
Upon completion, the Project will feature approximately 25,500 square feet of interior office space, approximately 99 loading docks, 586 auto parking spaces, 32’ minimum ceiling clearance height, and a state-of-the-art sprinkler system. In addition to the basic building shell and interior construction, the developer will complete an approximately 1,100 square foot guard house, a 7,500 square foot trailer maintenance facility, an 1,100 square foot fuel pump house, and exterior landscaping and groundwater drainage and retainage systems.
The developer will also be responsible for completing the construction of extensive occupant-specific buildout for the Tenant. This buildout will be necessary for the Tenant’s propriety freezer/cooler and fulfillment equipment to be installed in advance of their occupancy of the facility
Group 89 EB-5 funds will be utilized in all aspects of the development and construction activities of the Project. This may include, but is not limited to, site demolition and abatement, onsite and offsite development, grading, landscaping, drainage systems, both horizontal and vertical infrastructure, and certain interior buildout of the Project.
PROJECT TIMELINE
Development began in Q3 2023
Completion of the Project is anticipated for Q1 2025.
Reasons to Invest
Leader in EB-5
CMB is the leading EB-5 regional center with a 100% project success rate in over 70 projects.
Industry Leading Developer
The Development Company is an award-winner developer with over 30 years of experience.
