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Page 16 — COLORADO REAL ESTATE JOURNAL — March 18-March 31, 2015
Fi n d u s o n
1605 Foxtrail Drive
Loveland
Office Building, SOLD
• 801 Automation Drive, Windsor
Land, SOLD
• 1025 Buckingham, Fort Collins
Land, SOLD
• 2495 W 28th Street, Greeley
Carmike Cinemas, SOLD
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Larimer & Weld Counties
by Jill Jamieson-Nichols
A medical group bought a
12,382-square-foot office build-
ing in Centerra with plans to
occupy the first floor and pos-
sibly lease out the upper level to
medical and/or office tenants.
Front Range Medical Holdings
LLC paid $3.28 million for the
Class A building at 1605 Fox-
trail Drive
in Loveland.
The price per
sf of $265 is
the highest
paid for prop-
erty within
F o x t r a i l
Office Park,
according to
Ron Kuehl of
Realtec Com-
mercial Real Estate Services.
Kuehl represented the seller, a
tenants-in-common group with
investors in Montana and Colo-
rado.
Regus University occupied the
property. It is consolidating the
Loveland location to its Long-
mont campus.
Foxtrail Office Park is an office
condominium development at
Rocky Mountain Avenue and
McWhinney Boulevard – one of
the best locations in Centerra,
according to Kuehl.
“This is the 10th property I’ve
sold within the Foxtrail busi-
ness park and the price was
reflective of the high demand for
quality real estate in Northern
Colorado,” he said, noting the
region’s office vacancy rate is 7
percent and only 4.3 percent for
Class A space. “The ownership
group had no intention of sell-
ing the building and we were
approached by a user that we
couldn’t turn down,” said Kuehl.
Matt Haskell of URealty Inc.
and Travis Ackerman of DTZ
represented the buyer.
Foxtrail Office Park, developed
by McWhinney in 2005, is home
to more than 20 local businesses.
When 1605 Foxtrail sold, the
park was approximately 94 per-
cent occupied.s
A medical group will occupy the first floor of the two-story building at
1605 Foxtrail Drive in Loveland.
Ron Kuehl
by Jill Jamieson-Nichols
ANorthern Colorado discount
grocery retailer is planning its
biggest store yet – on a 3.45-acre
site in northern Loveland.
Esh’s Discount Groceries will
build a 33,000-square-foot build-
ing at 301 71st St. (Lots 4 and 5,
Block 6) in Longview Business
Park. The building will include
about 15,000 sf of retail space,
along with office and warehouse
space. It will replace the compa-
ny’s existing 5,000-sf Loveland
location.
The store will be the first that
Esh’s has built from the ground
up. Its existing stores typically
were built for former mom-and-
pop retailers.
“We’re excited about building
a store that meets our needs,”
said owner Reuben Esh. “We
really appreciate our customer
base in Loveland. They’ve been
very loyal to us,” he said, adding
the store draws customers from
locations including Fort Collins
and Windsor, as well as Chey-
enne, Wyoming.
“We’re excited about making
it more convenient for most of
our customers and having more
parking and a lot bigger selection
of discount groceries than what
we have now,” Esh commented.
Esh’s bought the develop-
ment site from First and Second
Longview LLLP for $431,000. Joe
Palieri of Doberstein Lemburg
Commercial Inc. represented
the buyer, and Larry Melton of
Realtec-Loveland represented
the seller.
Palieri said theproperty ismore
centrally located between Love-
land, Fort Collins and Windsor
than Esh’s existing store. “The
(existing) location is just not the
ideal location,” added Esh, who
noted the site has insufficient
parking, a lack of visibility and,
more importantly, is too small.
“We simply outgrew the prop-
erty,” he said.
Loveland-based Hauser Archi-
tects and JP Construction are
the architect and contractor for
the new building. Esh hopes to
break ground on the approxi-
mately $2.4 million project in a
couple of months and open the
store by fall or winter.
Esh’s Discount Groceries buys
closeouts, groceries nearing their
expiration dates and products
thatmay come indented cans, for
instance, fromdistributors across
the country and sells them at
deep discounts. It receives ship-
ments daily, so available prod-
ucts change constantly. Its stores
also offer produce and delis.
In addition to the Loveland
store, the company has approxi-
mately 8,500-sf locations in
Dacono and Evans.s