Coffee Company Triples Space in Loveland
McWhinney Will Start Work on Third Industrial Building
A cold-brew coffee manufacturer has tripled its space in Loveland, CO, with a new lease at an industrial project developed by McWhinney.
Toddy, which makes the Toddy Cold Brew System, will occupy 83,890 square feet at McWhinney’s second industrial building in its Centerra development located near the intersection of I-25 and Highway 34. The lease encompasses the entire Centerra Industrial II building at 5135 E. 37th St.
"The industrial properties McWhinney has developed at Centerra are unique in that there are not many options in the immediate area that cater to the specific needs of distribution users," said Mike Eyer, vice president at CBRE, who represented McWhinney in the deal.
Loveland-based McWhinney started building out the Centerra development before the recession in the mid-2000s and has continuously added to the 3,000-acre master-planned community, developing mostly retail, office and residential uses.
The addition of industrial buildings to the project is more recent, with Centerra Industrial I opening in the first part of 2017.
Toddy also leased McWhinney’s first industrial building in Centerra, taking up 41,945 square feet at 5195 E. 37th St. The new lease will serve as an expansion for the family-run business’s operations, which are based in Loveland.
Although Centerra is situated at the intersection of two of Colorado’s major highways, industrial real estate is scant there, with most developers opting for areas like the Great Western Industrial Park outside Windsor or elsewhere in Weld County.
With the new lease in place, McWhinney will begin construction on a third industrial building, Centerra Industrial IV, later this spring. The building will be the largest industrial property at Centerra yet, spanning 122,000 square feet.