World Construction Network

Daily Newsletter

11 August 2023

Daily Newsletter

Real estate company Hines, in collaboration with EnviroFinance Group, has broken ground on the first phase at Quantum 56, an industrial park in North Central Denver, Colorado, US.

The first phase of this Class A, six-building, 868,360ft² industrial park will consist of adding three buildings totalling 581,250ft² of warehouse and manufacturing space.

The ground-breaking of the project was announced by JLL on behalf of Hines.

JLL Denver's managing director Jason White said: “We are thrilled to introduce Quantum 56, the cutting-edge business and logistics park that will set new standards in Denver.

“With its strategic location surrounded by a vibrant community, this property offers unparalleled opportunities for businesses seeking premium industrial space with unique urban-like amenities in a premier location adjacent to Downtown Denver.”

Essex Financial Group has provided construction finance for the first phase of the project.

Quantum 56 has been designed by architect Ware Malcomb’s Denver office and is being constructed by Arch-Con Corporation.

It will accommodate a wide range of tenants, including large-scale distribution and manufacturing customers and smaller single-occupier/owner-user facilities.

Hines' director Courtney Schneider said: “North Central Denver is a fast-growing submarket, and occupier demand for Class-A industrial space continues to outpace existing supply.

“Delivering Quantum 56 to the region will capitalise on this increased demand for best-in-class, well-located industrial space.”

Construction on the first phase is set to be finished in the second quarter of next year.

ESG 2.0 marks a shift towards stricter environmental rules

ESG is moving into a different era, which we call ESG 2.0. While ESG 1.0 was driven by voluntary corporate action, spurred by pressure from activist consumers and investors, ESG 2.0 is being driven by a new wave of government policies. The EU has taken the regulatory lead, with rules introduced or in the pipeline that will price emissions, regulate the use of the terms ‘ESG’ and ‘sustainability’ in marketing materials, and make ESG reporting mandatory. The US has taken a different approach, favoring less regulation and more financial support in the form of tax breaks for clean industry (renewables plus nuclear and hydrogen). China is planning to expand its emissions trading system to more sectors, decarbonize its heavy industry, and ramp up its use of renewables. The new policy direction is mainly motivated by the ambition to hit net zero emissions targets. But on top of this, governments are now competing for clean industry and trying to challenge China’s leadership on the production of the world’s green technologies such as solar panels and batteries, as well as the production and refinement of materials needed for energy transition such as lithium. These driving forces are leading to policy that will impact every sector, not just heavy industry, and will keep ESG near the top of the regulatory agenda over the longer term.