JLL has secured $77.1 million in financing for Commerce Yards, a planned 466,000-square-foot industrial park at 9401 Heinz Way in Commerce City. The capital stack, arranged for Lincoln Property Company, blends joint-venture equity with a construction loan and will bankroll three low-coverage warehouse buildings aimed at tenants that care as much about outdoor yard space and rail access as they do about square footage. The site sits roughly 15 minutes from Denver International Airport and about 20 minutes from downtown Denver.
According to JLL, the financing includes joint-venture equity from a confidential partner alongside a construction loan provided by First Horizon Bank. The project covers 46 acres and will bring three buildings ranging from about 113,000 to 200,000 square feet, each planned with 28- to 32-foot clear heights, rear-load configurations, and roughly 4,000 amps of power. “The business plan at Commerce Yards is perfectly designed to capture a hole in the market,” Senior Managing Director Peter Merrion said in the release.
Why The I‑76 Corridor Matters
The development lands in the I‑76 corridor, a growing logistics pocket that, according to Mile High CRE, is home to about 4,200 companies and a workforce where roughly 38.5% of residents are employed in trade, manufacturing, or other labor-intensive jobs. Those fundamentals, combined with the property’s location in an enterprise zone that offers tax benefits, are central to the pitch for construction, machinery, logistics, and energy users. Mile High CRE also reports that those target industries account for roughly 77% of the Northeast Denver industrial market, which helps explain the focus on heavy-duty users.
Site Specs And Timeline
JLL’s release lays out the site details: the 46-acre plan includes about 14 acres of secured outdoor yard space, is rail-serviceable, and carries zoning that allows up to 50% of the site to be used for outdoor storage. Construction is slated to begin in April 2026, with full project delivery expected by May 2027, according to JLL. The JLL Capital Markets team on the assignment featured Senior Managing Director Peter Merrion on the equity side and Leon McBroom and Jim Curtin handling the debt placement.
Listings Show Build-To-Suit Options
Marketing materials for Commerce Yards advertise build-to-suit flexibility, a range of yard sizes and specifications suited to heavier industrial users, all in line with the project’s low-coverage, yard-focused design. The Crexi listing for the property highlights divisible spaces, 28- to 32-foot clear heights, and potential BNSF rail service, reinforcing why the layout leans into outdoor storage and rear-load docks.
Lincoln’s Scott Caldwell said the project “delivers solutions that truly meet the needs of today’s companies,” a line that has been echoed in coverage of the deal. Fast-moving financing paired with a developer that has a national footprint signals investor confidence in northeast Denver’s industrial fundamentals, and the Commerce Yards capital stack could help plug a gap for yard-centric warehouses in the market, according to Mile High CRE.
