Colorado Real Estate Journal - April 20, 2016
A 25,962-square-foot manufacturing building on 2.49 acres in Berthoud sold for $2.29 million, or $88.39 per sf. CEM & Associates LLC purchased the building at 1005 N. Second St. in Berthoud from Loveland Screw Machine Ltd., which operated there until last September. Blue Heron Specialty Products, now in Denver, reportedly will occupy the building. The company makes parts for irrigation systems. Built in 1969, the building was expanded in 1973 and again the following year. Loveland Screw Machine had occupied it since about 1990. Realtec-Loveland brokers Larry Melton, Bruce Campbell and Patrick O’Donnell originally listed the building a year ago, when Loveland Screw Machine was still operating there. The company completed its contracts and auctioned off its equipment in September, so, “It really wasn’t until November 2015 that it became a building that someone saw they could move into,” said Melton. Mitchell Bennett of Cherry Creek Properties LLC represented the buyer in the transaction. Other News Loveland Commercial LLC is marking its 20th anniversary with a name change and a move to 4,000 square feet at 1712 Topaz Drive in central Loveland, a building it acquired last year and renovated. The company’s new name, LC Real Estate Group LLC, is meant to provide better recognition that Loveland Commercial and the former Midtown Homes (now LC Home) are regional players and part of the same company, said Nathan Klein, partner and commercial brokerage manager. “We are still a Loveland-based company, but clearly a regional player in the marketplace, and this move signifies that evolution,” said Eric Holsapple, cofounder and partner. The new location gives LC Real Estate Group a significant presence in the center of Loveland, providing visibility from U.S. Highway 34/East Eisenhower Boulevard and offering higher quality, more efficient space. Previously spread out in different offices at Thompson Valley Towne Center in Loveland, the company’s 21 partners and employees now occupy a single, centralized location. LC Real Estate Group is a full-service, independent real estate brokerage, property management, development and homebuilding company. Holsapple and Don Marostica founded the company in 1996 after purchasing Moore Commercial. Marostica sold his interest in the company to Blaine Rappe and Klein when he retired in 2012, but remains a major investor in the company. Partners, in addition to Holsapple, Klein and Rappe, are Wayne Lewis, Nick Galluzzo and Rollin Goering. LC Real Estate Group and its partners are known for developing King Soopers shopping centers in Loveland and Fort Collins, more than 2,500 residential lots and nearly 500 homes in Northern Colorado, as well as donating $1.5 million to create the Loveland Commercial Endowed Chair in Real Estate in the Colorado State University College of Business Everitt Real Estate Center. The company has expanded its investments and developments to the Denver metro area and Colorado Springs.