Caprice Commerce Center Project to Break Ground September 16th 2013

By September 10, 2013 Uncategorized No Comments

Castle Rock, CO – NavPoint Real Estate Group is excited to announce the unveiling of Castle Rock’s newest Class A Multi-Tenant Industrial/Flex project, Caprice Commerce Center. This 43,556 Square Foot two building project will BREAK GROUND SEPTEMBER 16th in a ceremony at 10:00am MST at the site with an expected completion date of 1st quarter 2014. The project is strategically located adjacent to I-25 just northwest of the Wolfensberger exit on Caprice Court in booming Castle Rock.  The buildings will boast 24’ clear height, ESFR sprinkler systems, Dock High and Drive In loading, Class A concrete tilt up construction, ample parking and tremendous I-25 signage visibility to nearly 100,000 vehicles per day.

Castle Rock based NavPoint Real Estate Group and Principal Matt Call are heading up the preleasing efforts. The initial leases include Napa Auto Parts relocating into 9,000 SF within the project from another Castle Rock location to gain additional clear height and prime retail visibility. Douglas County based mailmystatements.com will occupy 12,000 SF. mailmystatements is a 3rd party billing print firm which had outgrown its current location in Larkspur, Colorado. Additional leases are currently being negotiated on the remaining 23,000+ SF. Vacancy rates during the past 24 months have plummeted in Castle Rock well below historical averages, Industrial vacancy as of the end of the 1st quarter was 2.5% less than half the 10 year average of 5.6% creating a shortage of space and forcing new projects like Caprice Commerce Center to come out of the ground.

Castle Rock, Colorado is a community of nearly 55,000 residents with population expected to double in the next 12 years to over 100,000 people within town limits. Centura hospital is in the midst of completing a nearly $300M hospital campus located approximately 3 miles from the Citadel Station site. The new hospital will employ over 300 people and continue to drive residential construction within the Town.