Colorado Real Estate Journal - November 4, 2015
A multitenant industrial building in a market without a lot of vacancy traded for $1.02 million, or $73.56 per square foot. Stroud & ASLSM Duff LLC bought the 13,932-sf showroom/warehouse building at 1313 Duff Drive in Fort Collins from Duff Properties LLC. It was 70 percent occupied by three tenants, the largest of which is Al’s Granite. A n n a h Moore of Realtec Commercial Real Estate Services purchased the property with her father, Larry Stroud, who was completing the up-leg of a 1031 exchange. “Given what I’ve seen working as a broker in the market, the demand for industrial space is really strong,” said Moore, who represented her group in the transaction. “Our vacancy rate is low. I think there will be continued demand for that type of product and that it will be a good investment now and in the future,” she said. According to Xceligent, Fort Collins’ industrial rate was under 3 percent at the start of the third quarter. Moore is marketing the available space in the building, 4,132 sf, for lease at $8 per sf triple net. Built in 1989, 1313 Duff Drive offers 17-foot clear height and drive-in loading. Steve Stansfield of Realtec was the listing broker.