Colorado Real Estate Journal - August 17, 2016
The Kornfeld Cos. purchased a three-tenant retail building at a King Soopers shopping center in Fort Collins, where it is finishing development of another King Soopers center. The company paid $2.6 million, or $458.72 per square foot, for the building at 1856 N. College Ave. in North College Marketplace. The building sits in front of the 123,000-sf King Soopers and is fully occupied by Firehouse Subs, Perfect Teeth and Metrics. It was built in 2013. The seller was 1856 North College LLC, led by principals of LC Real Estate Group who developed the shopping center. Matt Henrichs and Brad Lyons of CBRE represented the seller in that deal and also in the recent $1.95 million sale of a a 1,853-sf freestanding Starbucks in North College Marketplace. Elsewhere in Fort Collins, The Kornfeld Cos. is completing development of The Shops at Rigden Farm, a King Soopers-anchored center that includes a FirstBank and several multitenant buildings. The final building, totaling 7,000 sf, will be delivered this month. Tenants will include Krazy Karl’s Pizza, Meraki Yoga and ZUltimate Self-Defense Studios. All but 1,700 sf is leased. “We are very enthusiastic about Fort Collins,” said Kornfeld Cos. Managing Partner Brad Kornfeld. “It’s a terrific city with tremendous energy, growth and a very bright future. King Soopers continues to dominate the grocery market, and we were deliberate in selecting them as an anchor of both of our Fort Collins retail holdings.” The Kornfeld Cos. specializes in grocery-anchored centers. It currently owns 12 centers in Colorado, Texas and Ohio. Other News The Lansing Cos. purchased 72 acres of land in Dacono for $1.1 million. The property is located on Glen Creighton Drive in Autumn Valley Ranch. It includes 34 developed lots on 24 acres and 48 acres that are undeveloped. Larry Melton of Realtec Loveland and Mark Bradley of Realtec Greeley were the listing brokers. Juve Pinedo of Lee & Associates represented the buyer. The seller was 2010 RADC/ CADC Property IX LLC. Bost LLC sold two parcels of agricultural land totaling approximately 119 acres at the southeast corner of 95th Avenue and West 10th Street in Greeley for $1.05 million. GCL Weld No. 1 LLC was the buyer. Gage Osthoff and Nick Berryman of Realtec Greeley represented the seller. Rob Haimson of Magnum Properties represented the buyer. Savant Homes is building eight luxury brownstones called Landmark Residences at the northeast corner of Mountain Avenue and Shields Street in Fort Collins. The homes will start in the low $800,000s and are slated for completion in April. Half of the townhomes, which include two master suites and are completely customizable within the footprint, are available for sale, according to Dave Muth of The Group Real Estate, who is marketing the residences. Ten Sleep Investment Group LLC paid $400,000 for two industrial spaces totaling 4,500 sf at 2986 W. 29th St., Units 12 and 13, in Greeley. Nick Berryman of Realtec Greeley handled both sides of the transaction. Thomas E. Frame was the seller.