Steel fabricator Cemco is moving out of its space near Burnham Yard in central Denver. It\u2019s not hard to guess who will move in next.<\/p>\n
\u201cThat facility will likely get sold to the Broncos,\u201d said broker Mark Dwyer of Lincoln Property Co. \u201cIt\u2019s part of that whole area.\u201d<\/p>\n
Dwyer, along with colleagues Sam Slaton and Scott Caldwell, represented California-based Cemco in its recent $29.3 million purchase of a 140,000-square-foot industrial property in Commerce City.<\/p>\n
The company currently operates in a space less than a third of that size at 480 N. Osage St.<\/p>\n
\u201cWe have been operating at our current location in Denver for 22 years and our biggest issue has been a constraint on space,\u201d Cemco CEO Tom Porter said in a statement.<\/p>\n
The company was mum about its existing Denver real estate.<\/p>\n
\u201cAs far as the status of the current building, I cannot comment on that,\u201d Cemco spokesman Steve Farkas told BusinessDen.<\/p>\n
Cemco purchased the 2.7-acre 480 Osage property in 2003 for $2 million, records show. The company has other locations in California and Texas. It\u2019s one of America\u2019s largest manufacturers of steel framing, according to the company\u2019s website.<\/p>\n
\u201cThey needed a decent-sized building with a yard and rail, and this building has a rail spur that goes into the building and one that goes into the yard. That was very important to them and very hard to find,\u201d Dwyer said.<\/p>\n
He began working with the company about 18 months ago to find a new home for the Denver operations.<\/p>\n
That\u2019s also around the same time lawyers formed a host of nondescript LLCs, which have been slowly buying property around Burnham Yard. BusinessDen previously linked those entities to the Denver Broncos, which is considering the former railyard and the surrounding area for a new stadium.<\/p>\n
The team, which declined to comment on Cemco\u2019s pending move, maintains it is considering multiple sites for a new stadium, as well as staying at Empower Field at Mile High.<\/p>\n
Cemco, founded in 1974, was purchased by Japanese steel giant JFE Holdings in 2022. Its CEO at the time of the sale, Raymond Poliquin, owns the company\u2019s real estate in Denver. Public records show he leased the 480 Osage building to Cemco in late September 2022. That lease expires at the end of September 2026, with options to renew it through 2040, and includes a first right of refusal to buy the property.<\/p>\n