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Page 12 — COLORADO REAL ESTATE JOURNAL — April 1-April 14, 2015
Larimer & Weld Counties
by Jill Jamieson-Nichols
A7-Eleven property in Greeley
garnered interest from investors
across the nation, collecting a
half-dozen offers right out of the
gate.
The 2,700-square-foot building
at 2803 W. 10th St. sold to KAK
Properties LLC for $1.11 million,
or $411.11 per sf.
“When we put it on the mar-
ket, we immediately received
interest from investors across
the nation,” said Steve Kawulok,
managing director of Sperry Van
Ness/The Group Commercial
LLC. “We received half a dozen
offers immediately upon market
exposure.”
Kawulok said investors were
drawn to the property by the
investment-grade tenancy and
triple-net lease. Also key was
that the price point, in the $1 mil-
lion range, was within reach of
private investors, he said. “There
is a lot of interest in these types
of single-tenant net-lease offer-
ings, but very little inventory in
the same pricing range,” said
Kawulok, who noted most offer-
ings are closer to $2 million or
more.
Offers came from investors
from North Carolina to Califor-
nia, but seller Khang Phat Inc.
selected a Colorado investor,
who was seeking cash flow. Sev-
en-Eleven has six years remain-
ing on its lease, plus renewal
options.
The building was constructed
in 1987 and operated indepen-
dently until 2011, when 7-Elev-
en signed a 10-year lease and
improved the
property.
K a w u -
lok and Steve
Griffith of
Griffith Real-
ty Advisors
were the list-
ing brokers.
Drake John-
son of Drake
Johnson Real-
ty represented the buyer.
Other News
n A Texas company that man-
ufactures filtration equipment
for the oilfield and petrochemical
industries paid $1.3 million for
8.1 acres of land at Great Western
Industrial Park in Windsor.
Crall Products Co. will con-
struct two buildings on the prop-
erty.
“Crall is an excellent addition
to the Great Western Industrial
Park,” said Rich Montgomery,
senior vice president of indus-
trial development for the park.
“Theywill be joining global lead-
ers such as Halliburton, Cargill,
Schlumberger, Owens-Illinois
and many more at our park. We
think that speaks volumes about
the business climate in North-
ern Colorado and development
capabilities of our park.”
n A 17,600-square-foot indus-
trial building at 140 Factory
Road in Eaton sold for $450,000,
or $25.57 per sf.
H.B. Fitz sold the property to
140 Factory Road LLC in a deal
handled by listing broker Mark
Bradley of Realtec-Greeley and
Jeffrey Doran of Realtec’s Fort
Collins office.
n Cutting Wireline Services,
an oil and gas services compa-
ny, leased a 14,400-sf industrial
building on 3.75 acres of land at
Falcon Point Industrial Park on
Highway 392 in Windsor.
The building offers new,
good quality space and outside
storage, said Michael Ehler
of Realtec Commercial Real
Estate Services, who handled
both sides of the transaction.
Falcon Point Industrial Park
LLC is the landlord.
n Flintridge Group paid
$830,000, or $207,500 per unit
($84.11 per sf), for a 9,868-sf mul-
tifamily property at 1600 Eldora
Court in Fort Collins. The John
and Linda Teman Joint Revo-
cable Trust sold the four-unit
property.
Eric Broman of Realtec Com-
mercial Real Estate Services
was the listing broker. Paul
Hunter of Windermere Real
Estate represented the buyer.
n Mechanical Dynamics and
Analysis signed a five-year lease
for 9,189 sf of industrial property
at 32825 E. Mulberry St. in Fort
Collins. Fenyx Holdings LLC is
the landlord.
Annah Moore of Realtec
Commercial represented the ten-
ant. Jared Goodman and Nate
Heckel of DTZ were the listing
brokers.
n Interior Specialist Inc.
leased 8,872 sf of industrial space
at 129 Madison Ave. in Love-
land.
Cole Herk and Jared Good-
man of DTZ represented the
landlord, Eagle Crest Develop-
ment LLC. Cody Sheesley of
A local buyer beat out competition from investors across the country to acquire a Greeley 7-Eleven property.
Steve Kawulok
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