Colorado Real Estate Journal - August 5, 2015
A Fort Collins investment group bought an entire block of commercial property on North College Avenue for $5.38 million. “This is unusual to have a full city block fronting College Avenue a v a i l a b l e , ” said Josh Guernsey of 200 N. College LLC, a group that includes principals of B r i n k m a n Partners and other investors. “With Old Town pushing north, we see great future opportunities there. Our plan is to take our time and come up with a great plan that’s likely going to be some combination of repositioning and repurposing some of the existing buildings, and development.” Located at 200 N. College Ave. in Fort Collins, the property includes approximately 31,000 square feet of existing buildings leased to Compass Cider, CopperMuse Distillery, Pateros Creek Brewing Co., Dynamik Ceramix, EZ Pawn and other tenants. The buildings are 85 percent occupied. “There is just a great mix of tenants at the property,” said Guernsey, adding the distillery, brewery and cider maker “have a great synergy that we’d like to build around.” Chicago-based Green Courte Partners, which assembled the land several years ago, was the seller. Guernsey of Brinkman Partners represented 200 N. College LLC in the deal with Brinkman brokers Jake Arnold and Greg Roeder. Eric Nichols of Doberstein Lemburg Commercial represented the seller. Other News A collection of condominiums, pads and garages at Wellington Village Condominiums at 4101 Crittenton Lane in Wellington sold for the full asking price of $3.5 million. The transaction included 20 condominium units that sold at $82,500 per unit, 11 developed pads and 40 garage units. The property, which sits next to a public park, is in a developing neighborhood with entry-level and midpriced single-family homes. Larry Melton of RealtecLoveland and Mark Bradley of Realtec-Greeley represented the seller, 2101-1 RADC/ CADC Property XI LLC. Alex Schuman of Schuman Companies Inc. represented the buyer, 1409 Elizabeth LLC. Wellington Village Condominiums has a total of 48 existing condos in four buildings. Wallace and Walkenhorse Properties LLC paid $985,000 for three office condominiums (Units 101, 102 and 200) at 2001 S. Shields St., Building H, in Fort Collins. Larry Hawe of Sperry Van Ness/The Group Commercial handled the transaction. PDQ Properties was the seller. Encore Electric Inc. leased 3,200 square feet of industrial space at 225 N. Lemay Ave., Unit 5, in Fort Collins. Steve Kawulok and Larry Hawe of Sperry Van Ness/ The Group Commercial represented the tenant and the landlord, K-Venture Properties LLC. Performance Aircraft Services signed a three-year lease for 1,590 sf of office space at 1218 W. Ash St., Unit C, in Windsor. Cobey Wess of Sperry Van Ness/The Group Commercial handled the transaction. SIPAPU, doing business as Zuni Signs & Graphics Ltd., leased 1,500 sf of space at 301 Lincoln Court in Fort Collins. Terri Hanna of WWR Real Estate Services LLC was the listing broker. Rhett Strom of SVN/The Group Commercial represented the tenant.