Crossroads 25, a new six-building industrial park planned at the intersection of Interstate 25 and E-470 in Thornton, has broken ground on its first phase of construction.
The site was acquired by and its joint venture partner, PCCP LLC.
The projectap first phase, 828,000 square feet across four buildings, is expected to be completed by the third quarter of 2027, according to a Monday announcement by commercial real estate company CBRE. Once completed, Crossroads 25 will total about 1.1 million square feet across six buildings.
Building 4 has been fully preleased to an undisclosed tenant, filling 409,000 square feet and marking the largest new industrial lease signed in the Denver area since 2024, according to the announcement. With this prelease, the industrial development is 49% leased.
Buildings 1, 2, and 3 are also available for lease, with sizes of 157,562 square feet, 171,242 square feet and 90,096 square feet, respectively.
TCC and PCCP acquired the land for nearly $18.9 million from ThornCo Land Holdings LLC, according to a special warranty deed filed with Adams County. ThornCo appears to be tied to Noddle Cos., a Nebraska-based commercial real estate development company.
鷡’s represented the site’s seller in the transaction.
The CBRE team will also lead leasing efforts on behalf of TCC and PCCP. Simmons Bank has provided construction financing for the first phase of the development. Ware Malcomb designed the project, while Murray & Stafford will serve as the general contractor.
Crossroads 25 is designed to accommodate a range of distribution, logistics and manufacturing users.
In 2025, the northern Colorado industrial market, which has a little over 15 million square feet of inventory, saw strong tenant demand, with more than 1.2 million square feet occupied. That amounts to 7.9% of the total rentable space in the northern market, according to CBRE research data.
In comparison, across the Denver area, tenants occupied an average of 1.4% of rentable space in 2025.
Trammell Crow Co. is a commercial real estate developer and wholly-owned subsidiary of CBRE Group Inc., a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired 3,000 buildings valued at $90 billion spanning more than 700 million square feet. As of March 31, TCC had nearly $30 billion of projects in process or its pipeline.
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. Since 1998, PCCP has managed, raised or invested over $47.8 billion of capital through private equity funds, separate accounts and joint ventures.
