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COLORADO REAL ESTATE JOURNAL
— June 17-June 30, 2015
Larimer & Weld Counties
by Jill Jamieson-Nichols
Towns along the Interstate 76
corridor rolled out the red car-
pet to more than 100 brokers,
developers and business lead-
ers recently to showcase activ-
ity and individual development
opportunities.
The steering committee for
the I-76 Corridor Economic
Development Initiative, which
includes the towns of Lochbuie,
Hudson and Keensburg, hosted
the bus tour, whose sponsors
included Upstate Colorado. The
initiative is a collaborative effort
to strengthen the economy in the
southeastern part of Weld Coun-
ty, a county with no sales tax
and the lowest mill levy along
Colorado’s Front Range.
“That’s a big draw when
you’re looking for a home to
live in or a business to start up,”
said Weld County Commission-
er Barbara Kirkmeyer, who said
southeast Weld also has benefit-
ted from oil and gas production.
People think of Lochbuie and
Keensburg as being far from the
metro area, she noted. “The real-
ity is we’re a half-hour to 45
minutes away from downtown
Denver.
The I-76 corridor connects
Interstate 70 and Interstate 80,
two of the nation’s longest inter-
state routes. The southeast Weld
towns that dot the corridor are
small and rural, but not with-
out new housing and a few big
employers.
In Lochbuie, a 5,120-person
town that experienced 130 per-
cent growth between 2000 and
2010, LGI Homes sold 30 homes
in a single weekend at its Bella
Vista community. The average
sale price for a home in Loch-
buie is $244,000, up $35,000 from
a year ago.
A Canadian developer recent-
ly purchased a 900-acre master-
planned community in Loch-
buie called Altamira from The
Bromley Companies LLC. The
Bromley Cos., which developed
Bromley Park in nearby Brigh-
ton, is developing Silver Peaks,
a more-than-600-acre Lochbuie
community with 28 acres of
commercial ground.
Lochbuie will break ground
this fall on a new town hall.
The town of Hudson, which
also is planning a new town
hall, has 575 existing homes and
existing infrastructure to accom-
modate an additional 5,000.
Renaissance Homes is in the
planning process for construc-
tion of 242 single-family homes.
Commercial activity in Hud-
son includes a proposal for a
Best Western hotel at I-76 and
Highway 52. The town has
approximately 800 acres zoned
for industrial uses, includ-
ing Hudson Industrial Park, a
487-acre property recently pur-
chased by BNSF.
The town of Keensburg also
showcased numerous residential
and commercial development
opportunities, as well as one of
the corridor’s largest employ-
ers, H2 Enterprises. Located
next to the town in unincorpo-
rated Weld County, H2 is one
of the country’s largest seed-
ing and reclamation companies.
The family owned company has
done work in 36 states. Its own-
ers have several other compa-
nies, including Arnold’s Custom
Seeding.
Southeast Weld County will
be a beneficiary of the largest
road construction project in the
county’s history, a $150 million
project to widen and improve
County Road 49, which runs
from I-76 in Hudson to U.S.
Highway 34 in Northern Colo-
rado. The project, which is in
design and will be paid for
with cash on hand, will include
five lanes of concrete road.
“We consider it the backbone
of our county. We think it’s
an excellent opportunity for
economic development,” said
Kirkmeyer, one of the many
public officials who were part
of the bus tour.
Although many Denver bro-
kers who attended the May 28
tour already were familiar with
the I-76 corridor, they said they
valued seeing activity going
on in the region, as well as the
opportunity to network and
learn about the corridor’s busi-
ness-friendly environment.
It also was a chance to have
lunch in the “lion house” at
the Wild Animal Sanctuary, a
refuge for rescued lions, bears,
tigers and other large ani-
mals on a 720-acre expanse in
Keensburg.
“We may not live in the
mountains,” said Kirkmeyer,
“but we have the best moun-
tain views.”
s
I-76 corridor rolls out red carpet to showcase prospectsPhotos courtesy of Weld County Government
Brokers and other professionals gather for a bus tour of the Interstate 76 corridor.
The group stopped at Weld Central High School to learn about its educational achievements. At left are Weld
County Commissioners Julie Cozad and Barbara Kirkmeyer.
by Jill Jamieson-Nichols
A 1970s apartment communi-
ty in Greeley, one of the tightest
apartment markets in the state,
sold for $6.73 million, or $62,269
per unit.
The 108-unit Columbine Apart-
ments is located at 3208 W. Sev-
enth St. in central Greeley. The
apartments were 100 percent
occupied at the time of the sale,
according to Marcus & Millic-
hap’s Denver office, which han-
dled the transaction.
The names of the buyer and
seller weren’t disclosed; however,
public records show J&J Enter-
prises PropertyManagement sold
the asset to a group of limited
liability companies that included
Cedarbridge Delaware LLC.
The buyer intends to renovate
the unitswith new flooring, kitch-
ens and baths, and upgrade the
pool area, clubhouse and picnic
areas. The property will feature a
dog run/play area.
Marcus & Millichap’s Jacob
Steele, associate vice president
of investments, and Nick Steele,
senior associate, handled the
transaction.
“The Greeley market is one
of the tightest rental markets in
Colorado currently, despite the
turmoil in the oil and gas mar-
ket.Area owners are experiencing
little to no vacancy,” said Nick
Steele. “Columbine Apartments
will benefit from the strength of
the market and an anticipated
renovation of the property.”
Other News
n
Fort Collins investor
Roy
Martin
paid $750,000 cash, or
$49.32 per square foot, for a 15,200-
sf industrial property at 1230 and
1290 S. Grant Ave. in Loveland.
The property consists of 19 storage
units in two buildings.
It is 100 percent leased, primar-
ily to small contractors, said
Jack
Trethewey
of
Berkshire Hatha-
way,
who listed the building with
John Baker
of
Baker Western
Group LLC.
This was the third
time over the years that Trethewey
has sold the property, which is
located along Highway 402 (14th
Street Southwest), just west of
Highway 287.
Randy Marshall
of
Sperry Van
Ness/The Group Commercial
LLC
represented the buyer.
Jim
Licaretz
was the seller.
n
Kelly Foley
sold 6,080 sf of
industrial space at 7350 Greendale
Road in Windsor to
7350 Green-
dale LLC
for $760,000.
Stuart Thomas
and
Nate Heck-
el
of
DTZ
represented the buyer.
Annah Moore
of
Realtec Com-
mercial Real Estate Services
rep-
resented the seller.
n
Jack
and
Beverly Schneider
purchased 6,113 sf of office space
at 363 W. Drake Road in Fort Col-
lins from
BC Limited & Smoke
LLC
for $650,000.
Aki Palmer
and
Jim Palmer
of
DTZ
represented the seller.
Erik
Broman
of
Realtec
represented
the buyer.
n
Energy Erectors
leased 5,200
sf of industrial space at 5801
Wright Drive in Fort Collins from
Kessler Wright LLC.
Steve Stansfield
and
Jeffrey
Doran
of
Realtec
handled the
transaction.
n
Colorado Home Mortgage
Inc.
leased 4,730 sf of office space
at 255 E. Monroe Drive in Fort
Collins.
Jason Ells
of
DTZ
represented
the landlord,
Arman Enterprises
LLC. Nathan Klein
of
Loveland
Commercial
represented the ten-
ant.
n
Brinkman Brokerage LLC
handled a trio of transactions in
Fort Collins and Severance.
Brinkman’s
Jake Arnold
han-
dled the $275,000 sale of two
vacant lots on Red Cedar Circle in
northern Fort Collins.
PWS Prop-
erties LLC
purchased the property
from
Andrew Miscio, Charles
Miscio, Jeffrey Eggleston
and
Allison Headrick.
In another transaction,
Mack
Web Solutions
leased 2,967 sf at
Lincoln Office Center, 419 Can-
yon Ave., in Fort Collins.
Greg
Roeder
of
Brinkman Brokerage
represented the tenant.
Mike Eyer
of
CBRE
represented the landlord,
419 Canyon LLC.
Silicon Ranch Corp.
paid
$675,000 for 75 acres of agricul-
tural land on Highway 14 in Sev-
erance.
Brinkman’s Ashley Her-
genreder
represented the seller.
Seth Hayden
of
Hayden Out-
doors
represented the buyer.
n
Which One’s Pink Inc.,
doing
business as The Lost Cajun res-
taurant, leased 3,276 sf of retail
space at 331 S. MeldrumSt. in Fort
Collins.
Cobey Wess
of
Sperry Van
Ness/The Group Commercial
represented the landlord,
JJ Enter-
prises 331 LLC. James Hopkins
of
Real Estate Consultants of
Colorado LLC
represented the
tenant.
s
Greeley apartment community sells in $6.73M transactionApartment Insights
The Columbine Apartments is located in central Greeley.