Trammell Crow Company, PCCP Break Ground on 828,000-SF Phase 1 of Crossroads 25 Industrial Park in Thornton, Colorado
Trammell Crow Company and joint venture partner Pacific Coast Capital Partners have acquired a 76-acre site in Thornton, Colorado, and broken ground on the first phase of Crossroads 25, a six-building, Class A industrial park positioned at the intersection of Interstate 25 and E-470. The development is located in the North I-25 corridor, one of the Denver metro area's most active industrial submarkets.
At full buildout, Crossroads 25 will total approximately 1.1 million square feet across six buildings. Phase 1, comprising four buildings and approximately 828,000 square feet, is targeted for delivery in the third quarter of 2027, the firms announced June 3, 2026.
Phase 1 Preleasing Signals Strong Industrial Demand
Before construction began, Building 4 — the largest of the four Phase 1 structures at 409,000 square feet — was fully preleased. The transaction has been described as the largest new industrial lease signed in the Denver metro area since 2024, underscoring demand for new, well-located industrial product along the corridor.
The remaining three Phase 1 buildings are available for lease. Building 1 totals 157,562 square feet, Building 2 totals 171,242 square feet, and Building 3 totals 90,096 square feet.
"The full building prelease is a shining example of the solid, continuing demand for Class A distribution space in this fast-growing distribution corridor," said Tyler Carner, an Executive Vice President at CBRE. "We were glad to work on a successful disposition of this incredibly well-located industrial site in the heart of north I-25. Further, we are looking forward to working with TCC to lease the Crossroads 25 development to completion."
Project Design and Financing
The four Phase 1 buildings are designed as 32-foot clear, front-park, rear-load structures featuring highway visibility from both E-470 and I-25, heavy power at 4,000 amps per building, oversized drive-in doors, and trailer parking. Trammell Crow Company noted these specifications are increasingly important for modern manufacturing users, and the project is designed to accommodate distribution, logistics, and manufacturing tenants.
Simmons Bank is providing construction financing for Phase 1. Ware Malcomb designed the project, and Murray & Stafford will serve as the general contractor. CBRE's Tyler Carner, Jeremy Ballenger, and Keiffer Garton represented the site's seller in the land transaction and will lead leasing efforts on behalf of Trammell Crow Company and PCCP going forward.
"Developing within one of the Denver metro's most dynamic industrial submarkets presented a compelling opportunity for TCC," said Megan Kranichfeld, Denver Market Leader for Trammell Crow Company. "The North I-25 corridor is not only one of Colorado's most vital freight routes, but it is also the fastest-growing region in the state. Its proximity to a uniquely diverse labor pool offers a distinct, long-term advantage for tenants as they evaluate their real estate needs. These elements reinforce our conviction in this project."
Kranichfeld also credited the broader project team, including the City of Thornton, Ware Malcomb, Murray & Stafford, CBRE, PCCP, and Simmons Bank, for their roles in advancing the development.
North I-25 Submarket Outpaces Denver Metro Absorption
According to CBRE Research data, the North submarket — with just over 15 million square feet of inventory — recorded more than 1.2 million square feet of positive absorption in 2025. That figure represents 7.9% of the submarket's entire net rentable area, compared with an average of 1.4% absorbed across all submarkets in the Denver metro area during the same period.
About the Joint Venture Partners
Trammell Crow Company is a commercial real estate developer with a national platform. PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments, with approximately $29.3 billion in assets under management as of December 31, 2025. PCCP has offices in New York, San Francisco, Los Angeles, Atlanta, and Seoul, and has managed, raised, or invested more than $47.8 billion of capital since its founding in 1998 through private equity funds, separate accounts, and joint ventures.
CBRE Group, Inc. (NYSE: CBRE), the leasing broker on the project, is headquartered in Dallas and is the world's largest commercial real estate services and investment firm, with more than 155,000 employees serving clients in more than 100 countries.
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