Colorado Real Estate Journal - March 4, 2015
A pair of Longmont retail centers recently sold in unrelated transactions. Francis Street Center West, an approximately 22,000-squarefoot center at 1125-1147 Francis St., sold for $2.48 million. Red Diamond Investments LLC, a Boulder investment group, purchased the property from Francis Street Shopping Center West LLC. The center was built in 1967 and had a single vacancy of 1,875 sf, according to Peter Sengelmann of Pinnacle Real Estate Advisors, who represented the seller. Tom Kalinski of Re/Max of Boulder represented the buyer. Tenants in Francis Street Center West include Ziggi’s Coffee, Las Palmeras Mexican Restaurant, Francis Street Liquors, the Smoothie Factory, a counseling center and karate studio. Although it is located in a tertiary market, Sengelmann said the center received “a fair amount of interest.” “We were working with a couple of different groups and ended up going with this one,” he said. Also in Longmont, Charles J. Catania and the William C. Ross Revocable Trust paid $2.7 million for a multitenant retail center at 750 Ninth Ave. The center totals 23,763 sf, according to CoStar Group.