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COLORADO REAL ESTATE JOURNAL
— October 21-November 3, 2015
Real Estate Broker continuing education credits available
Glimpse into
2016
Commercial & Residential
Forecasts
for
Fort Collins, Greeley,
Longmont, Loveland, and Boulder
Industry Title Sponsors
Media Sponsors
Data provided by
Dec. 9, 2015 | 4-7 P.M. |
Embassy Suites Loveland
with Industry Experts
Larimer & Weld Counties
by Jill Jamieson-Nichols
A lack of industrial space
in Northern Colorado and a
dearth of new construction
are prompting McWhinney to
develop 83,890 square feet of
speculative space for delivery
early next year.
The building will be located
at Rocky Mountain Avenue and
East 37th Street in McWhin-
ney’s Centerra master-planned
community in Loveland.
“McWhinney sees a huge
need for Class A industrial
space in the Northern Colorado
market,” said spokesman Andy
Boian of Dovetail Solutions. A
second-quarter Xceligent report
puts Northern Colorado’s
vacancy rate for light-industrial
space at 1.1 percent and vacan-
cy within the Loveland submar-
ket at 2.2 percent, he said.
“We see this as an opportunity
to quell some of the demand,”
he said.
As part of Centerra, the
development will offer tenants
immediate access to Interstate
25 and U.S. Highway 34, as
well as more than 1.5 million sf
of retail, hotels, a health club,
and open space and trails. It
will include ESFR fire protec-
tion, 6-inch floors and skylights.
CBRE brokers Kyle Lundy,
Mike Eyer and Jim Bolt are
marketing space at $9 per sf
triple net. The building will pro-
vide 24-foot clear height and
dock-high loading – features
that aren’t readily available
in Northern Colorado, Lundy
said.
Lundy said there wasn’t a
great deal of absorption in the
industrial market over the sum-
mer, but with vacancies so low
and no new construction, ten-
ants don’t have a lot of options.
“This building will meet the
demand for quality, ClassAcon-
struction, of which in Northern
Colorado there’s almost zero,”
he said.
The building will be divisible
to 11,500 sf and will be suit-
able for uses including office/
research and development,
light assembly, light manufac-
turing, warehouse/distribution
and cold storage. There is the
capability of adding a sister
building of 84,000 sf.
Designed by Ware Malcomb,
the building will be constructed
by Golden Triangle Construc-
tion.
It will be the second spec-
ulative project that McWhin-
ney has undertaken this year.
McWhinney also is building
Hahns Peak Two, a 56,000-sf
Class A office building. The
last industrial building built at
Centerra was a build-to-suit for
Constant Contact, which was
completed in 2009.
Other News
n
An 18,730-square-foot
industrial building fully leased
to three tenants sold for $1.45
million.
Lincoln Properties LLC
sold
the building at 300 Lincoln
Court in Fort Collins to
300
Lincoln Court LLC,
led by
Dave
Sitzman
of
Sitzman-Mitchell
& Co.
Two of the tenants, Sid Har-
vey Industries and Lewis Paper
Co., have been in the prop-
erty for more than 25 years,
according to
Steve Stansfield
of
Realtec Commercial Real
Estate Services.
Stansfield was the listing bro-
ker.
Brian Stribley
of
Sitzman-
Mitchell
represented the buyer.
n
Omaha, Nebraska-based
Cornerstone Associates LLC
purchased a 128,000-sf develop-
ment site at the northeast cor-
ner of Stanford and Horsetooth
roads in Fort Collins from
Bella
Vista Development LLC
for
$860,000.
Ware Malcomb is designing the speculative industrial building at
Centerra.
