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COLORADO REAL ESTATE JOURNAL
— January 21-February 3, 2015
Larimer & Weld Counties
by Jill Jamieson-Nichols
Industrial buildings in Fort Col-
lins are in high demand, as evi-
denced by activity on a pair of
properties that sold in separate
deals.
A building on 4.35 acres in
northern Fort Collins traded for
$2.48 million, or $82.50 per square
foot.
Invex Ltd. sold the property at
1415 Blue Spruce Drive in Fort
Collins to 1415 Blue Spruce LLC.
CPP occupies approximately 75
percent of the 30,000-sf building,
which was acquired by a local
investment group.
“We probably could have sold
or leased it three times over,” said
Matt Patyk of CBRE, who rep-
resented the
seller
with
CBRE’s Peter
Kast.
The
property was
being offered
to either a ten-
ant or buyer,
but the seller’s
p r e f e r e n c e
was to sell, he
said.
The building was constructed in
1977 and renovated in 2012.
Mike Eyer and Kyle Lundy of
CBRE represented the buyer in the
transaction.
There also was significant inter-
est in a 14,344-sf industrial/flex
building at 241 Racquette Drive,
Patyk said. “It had been on the
market for quite some time, but
we did have quite a bit of activ-
ity on it. It just speaks to the
lack of available product in the
market now,” he said, adding
Fort Collins’ industrial vacancy
rate is around 4 percent.
Neuworks LLC, which is affili-
ated with Neuworks Mechanical,
purchased the property from 241
RacquetteDrive LLC for $1.15mil-
lion, or $80.17 per sf. It is located
withinFortCollins Industrial Park.
Patyk said the buyer needed
additional space and will occu-
py vacant space in the building,
which also houses a couple of
other tenants.
Other Newsn
Bently Welding Inc.
signed
a lease for 13,688 square feet of
industrial space at 611 Eighth St.
in Greeley.
Patrick O’Donnell
and
Bruce
Campbell
of
Realtec Commercial
Real Estate Services
represented
the tenant.
Dan Leuschen
of
Sper-
ry Van Ness/The Group Com-
mercial
represented the landlord,
Anderson Land Co.
n
The
Health District of North-
ern Larimer County
paid$842,050
for 4,166 sf of office space at 2001 S.
Shields St., Building G, in Fort
Collins. The property recentlywas
Fort Collins industrial buildings sell in investment, user dealsThe property at 1415 Blue Spruce Drive in Fort Collins traded for $2.48
million.
Neuworks LLC bought 241 Racquette Drive in Fort Collins for $1.15 million.
Matt Patyk
Please see Larimer, Page 24