Colorado-based company Central Development LLC has purchased 25 acres in Centennial that will kick off the development of a 55-acre business park, joining several other large developments in Arapahoe County.

To be called the Encompass Business Park, the complex is located along South Blackhawk Street between East Arapahoe Road and East Fremont Road, near the Denver Broncos' Dove Valley headquarters complex. The parcel was formerly called Centennial East Corporate Center.

Central Development purchased the land for the first phase of development, a 150,000-square-foot speculative industrial building, from Jordan-Arapahoe LLC for $4.5 million.

Central Development intends to purchase the remaining 30 acres in the future, according to Newmark Grubb Knight Frank, the commercial real estate company that facilitated the land sale and that will manage leasing.

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