August 17-September 6, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 19
Larimer & Weld Counties
by Jill Jamieson-Nichols
ANorthern Colorado developer
ismaking a substantial investment
in 2534 with construction of an
office/warehouse development
and plans for Class Aoffice build-
ings.
“Our focus is 2534. It’s a popular
location,” Roland Lockard, CEO
of Lockard Development Group
Inc., said of the quickly develop-
ing area at Interstate 25 and U.S.
Highway 34 in Johnstown.
“People love the location. They
are wanting to be out here. It’s in
the middle of Greeley, Fort Collins
andLoveland and has great access
the freeway. It’s all new and up-
and-coming.”
Lockard Development is under
construction on approximately
10,000 square feet of office/ware-
house space
that will be
delivered by
early Novem-
ber. The two-
building proj-
ect includes
four heated
units
with
20-foot ceil-
ings, drive-in
doors, finished
bathrooms and build-to-suit office
spaces.
Three of the four units are pre-
sold, two to users and one to an
investor, said Lockard, adding
there is approximately 5,000 sf
available for lease.
Lockard Development plans a
second phase of similar product
next year. It will comprise about
15,000 sf in two to three buildings.
Units will average around 1,560
sf and will start at $215,400. The
developer is looking to presell a
portion of the project and hopes
to have it under construction in
spring.
Also at 2534, Lockard Develop-
ment is planning construction of
two approximately 12,000-sf office
buildings catering to medical and
professional users. The buildings
will be located on Ronald Reagan
Boulevard and Larimer Parkway,
across from the new Clear View
Behavioral Health hospital and a
number of medical offices. The
developer is looking to partner
with physicians or medical prac-
tices to kick off the project, pos-
sibly in late fall.
“There is a lot of medical out
here already,” said Lockard, not-
ing the building will provide an
opportunity for medical users to
own their space at a core-and-shell
cost of approximately $180 per sf.
The 2534 development compris-
es a mix of high-end housing and
commercial development. It incor-
porates the 43-acre Johnstown
Plaza, which is buzzing with con-
struction of what will be 1.1 mil-
lion sf of development, including a
250,000-sf Scheels sporting goods
store.
Lockard Development Group
is a Loveland-based construction
management and real estate bro-
kerage firm.
Other News
n
Northern Colorado apart-
ment rents reached a new record
of $1,184 per month per unit in
The office/warehouse buildings will be completed by late October/early
November.
Lockard Development is planning Class A office space at 2534 in
Johnstown.
Roland Lockard
by Jill Jamieson-Nichols
The Kornfeld Cos. purchased
a three-tenant retail building at
a King Soopers shopping center
in Fort Collins, where it is fin-
ishing development of another
King Soopers center.
The company paid $2.6 mil-
lion, or $458.72 per square foot,
for the building at 1856 N.
College Ave. in North College
Marketplace. The building sits
in front of the 123,000-sf King
Soopers and is fully occupied
by Firehouse Subs, Perfect Teeth
andMetrics. It was built in 2013.
The seller was 1856 North
The three-tenant building in North College Marketplace was built
in 2013.
