Page 20 —
COLORADO REAL ESTATE JOURNAL
— August 17-September 6, 2016
the second quarter, but the rate of
increase is much lower than in the
recent past, according to
Apart-
ment Insights’
Statistics/Trends
Summary.
And while the vacancy rate
for stabilized, conventional
properties with 50 or more units
decreased for the first time in six
quarters, to 5.1 percent, it still is
154 basis points higher than a
year ago, according to the report.
Weld County has the lowest
vacancy rate, 4.27 percent, fol-
lowed by Loveland, which
dropped from7.18 percent vacan-
cy in the first quarter to 4.33 per-
cent. The tri-city area absorbed
191 apartment units in the second
quarter, most of that in Loveland.
Vacancy rates in Fort Collins
South and North were 4.42 and
7.34 percent, respectively, Apart-
ment Insights reported.
n
Greeley Ranch and Farm
paid $900,000 for 40.3 acres of
land at the southeast corner of
Highway 34 and 83rd Avenue
in Greeley. The buyer plans to
hold the land for development,
according to
Dan Leuschen
of
SVN/Denver Commercial,
who
handled both sides of the trans-
action.
The seller was
Pauline
Fafoutis.
n
A 9,146-square-foot office
property at 995 N. WilsonAve. in
Loveland sold for $770,000 cash.
NAN Maderia Stuart Trust
purchased the property from
PDQ Properties LLC.
Larry Hawe
of
SVN/Denver
Commercial
was the listing bro-
ker.
Richard Forde
of
HICO Real-
ty
represented the buyer.
n
Murphy Eriksen Enter-
prises LLC
paid $649,380 for an
8,220-sf industrial building at
1409 Olive Court in Fort Collins.
Steve Stansfield
of
Realtec
Commercial Real Estate Ser-
vices Inc.
represented the buyer.
T.J. Antinora
of
Antinora Real
Estate
represented the seller,
1409 Olive Court LLC.
n
Jayna K. Donoho
bought
4.23 aces of land at 3341 E. C St. in
Greeley, which will house a new
temperature-controlled facility.
Peckham Development Corp.
sold the property for $497,000.
Dan Leuschen
of
SVN/Denver
Commercial
was the listing bro-
ker.
Lorrie Sparks
of
K&O Realty
LLC
represented the buyer.
n
The
Evans Redevelopment
Authority
purchased 11,083 sf
of land at 3102 and 3108 State
St. and 807 31st St. in Evans. The
property will be used to realign
the frontage road on the east side
of Highway 85 to make it more
functional, according to
Mark
Bradley
of
Realtec Greeley,
who
represented the authority in the
transaction.
Lallo Investments LLC,
which
is affiliated with an oilfield trans-
portation company, sold the
property, which used to house
Randy’s Diner.
Dan Leuschen
of
SVN/Denver Commercial
was
the listing broker.
s
College LLC, led by principals of
LC Real Estate Group who devel-
oped the shopping center. Matt
Henrichs andBradLyons of CBRE
represented the seller in that deal
and also in the recent $1.95million
sale of a a 1,853-sf freestanding
Starbucks in North College Mar-
ketplace.
Elsewhere in Fort Collins, The
KornfeldCos. is completingdevel-
opment of The Shops at Rigden
Farm, a King Soopers-anchored
center that includes a FirstBank
and several multitenant buildings.
The final building, totaling 7,000
sf, will be delivered this month.
Tenants will include Krazy Karl’s
Pizza, Meraki Yoga andZUltimate
Self-Defense Studios. All but 1,700
sf is leased.
“We are very enthusiastic about
Fort Collins,” said Kornfeld Cos.
Managing Partner Brad Kornfeld.
“It’s a terrific citywith tremendous
energy, growth and a very bright
future. King Soopers continues to
dominate the grocery market, and
we were deliberate in selecting
them as an anchor of both of our
Fort Collins retail holdings.”
The Kornfeld Cos. specializes in
grocery-anchored centers. It cur-
rently owns 12 centers in Colo-
rado, Texas and Ohio.
Other News
n
The
Lansing Cos.
purchased
72 acres of land in Dacono for $1.1
million.
The property is located on Glen
Creighton Drive in Autumn Val-
ley Ranch. It includes 34 devel-
oped lots on 24 acres and 48 acres
that are undeveloped.
Larry Melton
of
Realtec
Loveland
and
Mark Bradley
of
Realtec Greeley
were the listing
brokers.
Juve Pinedo
of
Lee &
Associates
represented the buyer.
The seller was
2010 RADC/
CADC Property IX LLC.
n
Bost LLC
sold two parcels of
agricultural land totaling approxi-
mately 119 acres at the southeast
corner of 95th Avenue and West
10th Street in Greeley for $1.05
million.
GCL Weld No. 1 LLC
was the
buyer.
Gage Osthoff
and
Nick Berry-
man
of
Realtec Greeley
repre-
sented the seller.
Rob Haimson
of
Magnum Properties
represented
the buyer.
n
Savant Homes
is building
eight luxury brownstones called
Landmark Residences at the
northeast corner of Mountain
Avenue and Shields Street in Fort
Collins. The homeswill start in the
low $800,000s and are slated for
completion inApril.
Half of the townhomes, which
include two master suites and are
completely customizable within
the footprint, are available for sale,
according to
Dave Muth
of
The
Group Real Estate,
who is mar-
keting the residences.
n
Ten Sleep Investment
Group LLC
paid $400,000 for two
industrial spaces totaling 4,500 sf
at 2986 W. 29th St., Units 12 and
13, in Greeley.
Nick Berryman
of
Realtec
Greeley
handled both sides of
the transaction.
Thomas E. Frame
was the seller.
s
Larimer
Kornfeld
Other News
n
A 20,400-square-foot indus-
trial building at 2767 S. Tejon St. in
Englewood recently sold for $2.5
million, or $122.55 per sf.
Alan S. Eber
purchased the
property from
2767 S. Tejon LLC.
The building is 100 percent occu-
pied by an owner-user, according
to
Pete Foster
of
Pinnacle Real
Estate Advisors,
who handled
both sides of the transaction.
n
A10,019-sf warehouse at 2909
Shoshone St. in Englewood sold
for $653,600, or $65 per sf.
Mitchel E. Rhoads
sold the
property to
2767 South Tejon
LLC.
“This was a great find for the
buyer, who was on a quick time-
line to find a replacement prop-
erty for his business,” said
Pete
Foster
of
Pinnacle Real Estate
Advisors.
Foster represented the
buyer.
Nick Schill,
also of Pin-
nacle, represented the seller.
n
Asmall-user industrial build-
ing at 2000 S. Osage St. in central
Denver recently sold for $575,000,
or $101.95 per sf.
Gentala Investments LLC,
which is affiliated with a plumb-
ing company, sold the property to
FDG Products,
a specialty subcon-
tractor of architectural products.
FDG “plans to do some renova-
tions which should sustain the
property value over the next 10 to
15 years,” said
Gary Garcia
of
Pin-
nacle Real Estate Advisors,
who
represented the buyer.
The buyer will occupy approxi-
mately two-thirds of the building
and offer about 2,500 sf for lease
on a three- to five-year term, until
it needs the entire building, Garcia
said.
Sam Leger
of
Unique Proper-
ties LLC-TCN Worldwide
repre-
sented the seller.
s
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