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December 7-December 20, 2016 — COLORADO REAL ESTATE JOURNAL — Page 13
Larimer & Weld Counties
by Jill Jamieson-Nichols
The Spanos Corp. will develop
a second luxury apartment com-
munity at 2534 in Johnstown
following the successful comple-
tion of its first multifamily com-
munity there.
The new 236-unit community,
which hasn’t been named, will
be distinct from the adjacent
apartments, called The Gateway
at 2534.
“We are pleased to continue
to invest in Northern Colora-
do by building another luxury
apartment community at 2534,”
saidAlexandros Economou, The
Spanos Corp. executive vice
president. “The new communi-
ty’s luxurious design and ame-
nities in concert with its conve-
nient location at 2534 and prox-
imity to all of the exciting new
retail services there will make it
a very desirable place to live.
“Gateway has been very suc-
cessful and the leasing activity
over the summer was strong.
We believe the area is extremely
well located in Northern Colora-
do, and with the expanded retail
and services coming along in
the 2534 area, along with some
of the business components, it
will only continue to get better,”
Economou said.
“The town of Johnstown has
been a huge reason for the suc-
cess of the area and has been
great to work with.”
The new apartments will be
located on 8.5 acres at the inter-
section of Exposition Drive and
Thompson Parkway. The sales
price wasn’t released, but Lar-
imer County records indicate
Thompson Ranch Development
Co. sold the property for $2.96
million, or approximately $7.99
per square foot.
Spanos has received entitle-
ments and expects to break
ground this spring. It will deliv-
er the first units in spring 2018.
Economou said some of the
things that will make the new
community unique will be
internally heated and cooled
hallways. The four-story build-
ings will have elevators and an
attached clubhouse. The apart-
ments also will potentially fea-
ture LED lighting, along with
vinyl plank flooring, expanded
connectivity and a central hot
water system.
Unit sizes will range from
approximately 580 sf for junior
one-bedroom apartments to
1,350 sf for three-bedroom floor
plans. The project will be com-
prised of about 60 percent one-
bedroom units, 32 percent two-
bedroom units and 8 percent
three-bedroom apartments.
Theproperty isbeingdesigned
by Florida-based Charlan Brock
Associates and will be construct-
ed by The Spanos Corp.
Ron Randel of Wheeler Man-
agement Group Inc. and Tim
Gilchrist of Cushman & Wake-
field represented Thompson
Ranch Development Co. in
the transaction. Ryan Schaefer
and Jake Hallauer of Chrisland
Real Estate Cos. represented the
buyer.
“We were pleased to again
represent The Spanos Corp. on
this new acquisitionwithin 2534.
The quality of their luxury-style
apartments is second to none in
the region and will be another
outstanding addition to 2534 by
providing additional rooftops
to support retail, high-quality
housing for area employers and
a great place to live for many
people,” said Schaefer.
“The existing Gateway Apart-
mentshave enhanced the success
and sustainability of the overall
2534 master-planned commu-
nity. We were very pleased to
build on that success with the
sale of this site for another 236
luxury apartment units by The
Spanos Corp. They are truly best
in class among apartment devel-
opers,” said Todd Williams, vice
president of Thompson Ranch
Development Co.
Other News
n GEP Investments Inc. pur-
chased a 39.2-acre develop-
ment site in Fort Lupton for
construction of an 80,000- to
100,000-square-foot building to
be occupied by Summit Body
Works. The address is 13525
Weld County Road 8.
John Segelke of Segelke
Real Estate LLC represented the
Regional Transportation Dis-
trict, which sold the property.
n Fort Collins-based Brink-
man Partners has transitioned to
become a community-focused,
mission-driven real estate devel-
opment and investment com-
pany called Brinkman and no
longer will house commercial
brokerage services. Instead, for-
mer partner Josh Guernsey and
the commercial brokerage team
have established a new real
estate advisory company called
Waypoint.
“The decision to establish bro-
kerage and advisory services
under Waypoint, and outside of
the Brinkman umbrella, is really
exciting for us. With enhanced
focus, we believe our clients
will be better served through a
reshaped business model where
we still have the opportunity
to collaborate with Brinkman
on a going-forward basis,” said
Guernsey, Waypoint managing
partner.
“Our relationship with Josh
and his team will continue to
be essential to the positive foot-
print we can create within our
communities,” said Brinkman
co-founder and CEO Kevin
Brinkman. “We are still work-
ing together on some of our larg-
est and most exciting projects
to date. This is a valued busi-
ness and personal relationship
grounded in common values.”
n Johnstown Liquor Inc.
leased 4,116 sf of retail space
at 257 Johnstown Center Drive,
Units 101-103, in Johnstown.
Cobey Wess of SVN/Denver
Commercial represented the
landlord, Tusk Nua LLC. Jan
Depetro of New Horizons &
Associates Real Estate repre-
sented the tenant.
n Bittersweet Group Ltd.,
represented by Larry Hawe
of SVN/Denver Commercial,
signed leases with three new
tenants for office space at 3400
W. 16th St. in Greeley.
Benchmark Dental of Gree-
ley LLC signed a lease for 3,828
sf in Suite 8W.
Dan Gleissner of Carr Health-
care Realty represented the ten-
ant.
Reyes Corp., doing business
as Creative Counseling Services,
signed a 1,761-sf lease and will
occupy Suites 1 and 2 in Build-
ing 3.
In addition, Front Range Clin-
The Spanos Corp. will break ground on its second luxury apartment
community at 2534 next year.