Politics & Business

Colorado Springs Boasts Greatest Industrial Challenge in 2021 – Mile Excessive CRE

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According to a CommercialSearch 2021 Industrial Pipeline Report, 1,040 new industrial properties, totaling 342 million square feet, are scheduled for completion during 2021 across the U.S. — a 24 percent increase over last year’s numbers in terms of square footage. Amazon is expected to occupy eight out of this year’s 10 biggest completions, the largest of which will be delivered in Colorado Springs in 2021 — Amazon’s 4 million-square-foot distribution facility, dubbed Project Rodeo, at Peak Innovation Park.

According to public records, Amazon.com Services paid $6.33 million to the City of Colorado Springs for 69 acres at Peak Innovation Park to build the project. The multi-level distribution and sorting facility ships customer orders for books, electronics, toys and other smaller items across the state and to surrounding states. The project is estimated to deliver in Q2 2021.

According to new CBRE research report, Colorado Springs Industrial MarketView H2 2020, industrial space under construction in Colorado Springs remained steady at 3.8 million square feet in H2 2020, led by Project Rodeo.

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