Colorado Real Estate Journal - February 4, 2015
Dealin’ Doug dealt a hand in Windsor. Denver automotive dealer Doug Moreland bought 52.99 acres of land off the southeast corner of Interstate 25 and Highway 392 for $7.48 million cash, about $3.24 per sf. He hasn’t determined what to do with it, but says the opportunity was too good to pass up in light of the location and the growth occurring in Northern Colorado. “We just felt it was a great piece of property right off the Windsor exit, in between Centerra and Harmony Road,” said Moreland, who added he is evaluating different options. “It’s a great piece of property for future development.” The site is not currently zoned for auto dealerships, although Moreland said it would be a good location for that use. “It’s a great piece of land and great access,” said Craig C. Hau of Sperry Van Ness/The Group Commercial, who represented Moreland in the deal. The seller, represented by Pete Kelly of CBRE, was Poudre Valley Health Care Inc. The health care system initially bought the site to develop the Medical Center of the Rockies, but ended up building the hospital at nearby Centerra.
Weld County recently paid $5.5 million, or about $46 per square foot, for Chase Plaza, a 118,956-sf office building at 804-822 Seventh St. in Greeley. The property is close to the Weld County Courthouse and Justice Center. The county has two other parcels near the building under contract that will provide options for future expansion and parking capacity for court and justice center employees. The county decided in the mid-1980s to maintain court and justice functions in downtown Greeley, anchored by the historic Weld County Courthouse. It has been acquiring properties adjacent to or near the building as they become available. Weld County said the timing was good to acquire Chase Plaza, which sold in 2008 for $9.95 million. Approximately 64 percent of the building will remain leased until the county needs it. In the future, more than 100 county employees will be relocated there. CSA 19-Riverwalk Square LLC sold the property. Jason Ells and Cole Herk of DTZ represented the seller. Ron Randel of Wheeler Management Group represented Weld County. KLX Energy Services LLC paid $350,000 cash for 1.29 acres of land on Gateway Circle in Johnstown to support office/warehouse use. Craig Hau of Sperry Van Ness/The Group Commercial LLC represented the buyer. Dennis Saffell of Coldwell Banker represented the seller, I-25 Gateway Center LLC. Energes Services LLC leased 3,000 sf of industrial space at 821 18th St. in Greeley. Bonnie L. Todd LLC is the landlord. Nick Berryman of Realtec Greeley was the listing broker. Chimaera Sound Studio, a music recording studio, purchased 2,674 sf of office space at 1347 S. Garfield Ave. in Loveland from RASE LLC. Randy Marshall of Sperry Van Ness/The Group Commercial LLC handled both sides of the transaction. Tharp Real Estate LLC bought 1,430 sf of office space at 1136 E. Stuart St., Building 4, Suite 202, in Fort Collins for $199,000, or $139.16 per sf. Steve Stansfield and Erik Broman of Realtec Commercial Real Estate Services represented the sellers, John and Carolyn Huisjen. The buyer was represented by 1st Choice Realty.