Page 14 —
COLORADO REAL ESTATE JOURNAL
— November 5-November 18, 2014
Larimer & Weld Counties
by Jill Jamieson-Nichols
An out-of-state family invest-
ment fund acquired a two-build-
ing office complex in Fort Col-
lins for $3.6 million, or $123 per
square foot.
Located at 4700 McMurry
Ave. and 1609 Oakridge Drive,
the buildings comprise 29,135
sf. They are fully occupied by
five tenants: Coca-Cola, Interior
Resource Group, IXYS, Automa-
tion X Corp. and Dresser-Rand.
Duncan Oakridge LLC pur-
chased the property from Oak
Tech I LLC, Oak Tech II LLC and
the Everitt Cos. of Fort Collins.
The buyer has been investing
in commercial real estate in Colo-
rado since the 1980s. The acqui-
sition was its first in Northern
Colorado.
Cassidy Turley Vice President
Jason Ells said the group was
looking for opportunities along
the Front Range, but had a par-
ticular affinity for the Fort Col-
lins market
because
of
the market’s
overall health,
smaller size
and diversity
of industries.
“The North-
ern Colorado
market
is
such a healthy
place for com-
mercial real estate, it made for
a very attractive market for the
Duncan family to invest in,” he
said. “It is very difficult to find
stabilized assets with long-term
leases in place. This property has
been maintained extremely well
and many of the main building
components have been updated
recently,” he said.
The Everitt Cos. developed the
buildings in 1987 and 1989.
Other News
n
Landmark Homes
bought
four acres of land at East Drake
and South Timberline roads in
Fort Collins for $2.05 million.
Ladco Properties
was the seller.
Russell Baker, John Baker
and
Cole Herk
of
Cassidy Turley
rep-
resented the seller.
n
The America Building, a
prominent office/retail building
in downtown Fort Collins, sold
for $1.6 million.
Heliodor LLC
purchased the
two-story, 19,785-square-foot
building at 153-157 N. College
Ave. with plans for a full-build-
ing renovation over the next 24
months. Located at the north
end of Old Town, the building
houses Mac Shack, Watch Dog,
Ramplify, Canidium, Menutrin-
fo, Dun-Mor Productions, NoCo
Intergroup and Academy of Bar-
tending.
Josh Guernsey
and
Jake
Arnold
of
Brinkman Partners
The building at 4700 McMurry Ave. in Fort Collins was part of a $3.6 million acquisition.
Jason Ells
