Colorado Real Estate Journal -

Group pays $1.8 million for two Greeley C-stores/gas stations

by Jill Jamieson-Nichols

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A group that owns convenience stores/gas stations in the Denver area bought two Greeley properties for $1.8 million.

Bajwa Brothers LLC paid $1.05 million, or $246.83 per square foot, for a 4,254-sf store/ gas station at 1005 54th Ave. and $750,000, or $215.89 per sf, for a 3,474-sf property at 4751 W.

10th St. Both locations are west of downtown Greeley, near Greeley Country Club.

Wilshire Bank sold the properties, which were being operated at the time of the sale, said Realtec-Greeley broker Mark Bradley. Bradley and Tom Reznik of Realtec-Greeley were the listing brokers.

The new owner will operate the properties, Bradley said.

Jan DePetro of New Horizons Real Estate represented the buyer.

Other News

-An industrial investment property at 216 Commerce Drive in Fort Collins sold for $825,000, or $57.77 per square foot.

Hakuna Properties LLC, a Fort Collins investment group, acquired the fully leased 14,279- sf property as part of a 1031 exchange. Fox Ridge at Severence LLC was the seller.

The property was among only a few industrial investments on the market with a cap rate return above 8 percent, according to listing broker Travis Ackerman of Cassidy Turley Colorado. It sold at an 8.75 percent cap rate.

According to Ackerman, there are very few commercial real estate investments available under $2 million and plenty of investors looking for them.

Once 216 Commerce was fully leased, it took three weeks to get it under contract, and there were three offers for the property, he said.

Built in 1974, the building consists of six office/warehouse units ranging from 1,582 to 2,686 sf.

Hakuna Properties also purchased a fully leased multitenant retail building at 1125 W. Drake Road in Fort Collins. North College Lofts was the seller. The 9,270-sf property sold for $690,000.

Ackerman and Nate Heckel of Cassidy Turley Colorado represented the seller.

Matt Patyk and Dan Eckles of Realtec Downtown represented the buyer in both transactions.

-Greeley Endodontics LLC leased 1,818 sf of office space at 1711 61st Ave., Suite 108, in Greeley from Fox Run Office LLC.

Nick Berryman of RealtecGreeley represented the landlord. Greg Roeder of Brinkman Partners represented the tenant.

-Homerun LLC recently leased 5,091 sf of retail/restaurant space at 6013 S. College Ave. in Fort Collins. Melodie Rosendale is the landlord.

Realtec Commercial Real Estate Services brokers T.J. Antinora and Pete Kelly handled both sides of the transaction.

-JKA LLC, doing business as Curves Loveland West, signed a five-year lease for 2,040 sf of retail space at 280 E. 29th St in Loveland.

The building is centrally located and has great accessibility, monument and building signage and ample parking, according to Sperry Van Ness/The Group Commercial brokers Mike Eyer and Julius Tabert, who represented the tenant.

Josh Guernsey of Brinkman Partners represented the landlord, East 29th Street Holdings. -Chrisland Commercial Real Estate Inc. brokers Ryan Schaefer and Jake Hallauer represented Dr.

Jill Weich in leasing 1,200 sf of office space in Fort Collins for her veterinary practice, Fossil Ridge Animal Hospital LLC.

The property is located at 4848 S. College Ave., Unit B. “The space was an ideal fit for Dr. Weich’s practice as it has previously been occupied by a veterinary clinic and the current configuration fit the needs of the clinic,” said Hallauer.

Aki Palmer and Jim Palmer of Cassidy Turley Colorado were the listing brokers.