Colorado Real Estate Journal - December 7, 2016
The Spanos Corp. will develop a second luxury apartment community at 2534 in Johnstown following the successful completion of its first multifamily community there. The new 236-unit community, which hasn’t been named, will be distinct from the adjacent apartments, called The Gateway at 2534. “We are pleased to continue to invest in Northern Colorado by building another luxury apartment community at 2534,” said Alexandros Economou, The Spanos Corp. executive vice president. “The new community’s luxurious design and amenities in concert with its convenient location at 2534 and proximity to all of the exciting new retail services there will make it a very desirable place to live. “Gateway has been very successful and the leasing activity over the summer was strong. We believe the area is extremely well located in Northern Colorado, and with the expanded retail and services coming along in the 2534 area, along with some of the business components, it will only continue to get better,” Economou said. “The town of Johnstown has been a huge reason for the success of the area and has been great to work with.” The new apartments will be located on 8.5 acres at the intersection of Exposition Drive and Thompson Parkway. The sales price wasn’t released, but Larimer County records indicate Thompson Ranch Development Co. sold the property for $2.96 million, or approximately $7.99 per square foot. Spanos has received entitlements and expects to break ground this spring. It will deliver the first units in spring 2018. Economou said some of the things that will make the new community unique will be internally heated and cooled hallways. The four-story buildings will have elevators and an attached clubhouse. The apartments also will potentially feature LED lighting, along with vinyl plank flooring, expanded connectivity and a central hot water system. Unit sizes will range from approximately 580 sf for junior one-bedroom apartments to 1,350 sf for three-bedroom floor plans. The project will be comprised of about 60 percent one-bedroom units, 32 percent two-bedroom units and 8 percent three-bedroom apartments. The property is being designed by Florida-based Charlan Brock Associates and will be constructed by The Spanos Corp. Ron Randel of Wheeler Management Group Inc. and Tim Gilchrist of Cushman & Wakefield represented Thompson Ranch Development Co. in the transaction. Ryan Schaefer and Jake Hallauer of Chrisland Real Estate Cos. represented the buyer. “We were pleased to again represent The Spanos Corp. on this new acquisition within 2534. The quality of their luxury-style apartments is second to none in the region and will be another outstanding addition to 2534 by providing additional rooftops to support retail, high-quality housing for area employers and a great place to live for many people,” said Schaefer. “The existing Gateway Apartments have enhanced the success and sustainability of the overall 2534 master-planned community. We were very pleased to build on that success with the sale of this site for another 236 luxury apartment units by The Spanos Corp. They are truly best in class among apartment developers,” said Todd Williams, vice president of Thompson Ranch Development Co. Other News GEP Investments Inc. purchased a 39.2-acre development site in Fort Lupton for construction of an 80,000- to 100,000-square-foot building to be occupied by Summit Body Works. The address is 13525 Weld County Road 8. John Segelke of Segelke Real Estate LLC represented the Regional Transportation District, which sold the property. Fort Collins-based Brinkman Partners has transitioned to become a community-focused, mission-driven real estate development and investment company called Brinkman and no longer will house commercial brokerage services. Instead, former partner Josh Guernsey and the commercial brokerage team have established a new real estate advisory company called Waypoint. “The decision to establish brokerage and advisory services under Waypoint, and outside of the Brinkman umbrella, is really exciting for us. With enhanced focus, we believe our clients will be better served through a reshaped business model where we still have the opportunity to collaborate with Brinkman on a going-forward basis,” said Guernsey, Waypoint managing partner. “Our relationship with Josh and his team will continue to be essential to the positive footprint we can create within our communities,” said Brinkman co-founder and CEO Kevin Brinkman. “We are still working together on some of our largest and most exciting projects to date. This is a valued business and personal relationship grounded in common values.” Johnstown Liquor Inc. leased 4,116 sf of retail space at 257 Johnstown Center Drive, Units 101-103, in Johnstown. Cobey Wess of SVN/Denver Commercial represented the landlord, Tusk Nua LLC. Jan Depetro of New Horizons & Associates Real Estate represented the tenant. Bittersweet Group Ltd., represented by Larry Hawe of SVN/Denver Commercial, signed leases with three new tenants for office space at 3400 W. 16th St. in Greeley. Benchmark Dental of Greeley LLC signed a lease for 3,828 sf in Suite 8W. Dan Gleissner of Carr Healthcare Realty represented the tenant. Reyes Corp., doing business as Creative Counseling Services, signed a 1,761-sf lease and will occupy Suites 1 and 2 in Building 3. In addition, Front Range Clinic Inc. leased 1,547 sf in Building 1, Suite DD. Gage Osthoff of Realtec Commercial Real Estate Services represented the tenant. Helmerich & Payne International Drilling Co. leased 6.96 acres of land at 20676 Niobrara Blvd. in LaSalle. The property is located within Weld County Industrial Park. Dan Leuschen of SVN/Denver Commercial represented the landlord. David R. Stewart recently leased 1,829 sf of flex space at 2600 Canton Court, Unit C, in Fort Collins. Terri Hanna of WWR Real Estate Services represented the landlord. Wynn Washle and Craig Hau of The Group Inc. represented the tenant. NoCo Theatrix LLC, a theater company, leased 1,635 sf of retail space at 1296 Main St., Unit D, in Windsor. Jerry Chilson of SVN/Denver Commercial’s Northern Colorado Division represented the tenant and landlord, Virago LLC. Edward D. Jones & Co. LP leased 1,484 sf of office space in Loveland, as well as 952 sf in Lakewood. REC represented the company in the transactions. The Loveland space is located at 1605 Foxtrail Drive. Front Range Medical Holdings LLC is the landlord. The Lakewood space, leased from 2100 Bethel Holding LLC, is located at 445 Union Blvd.