March 16-April 5, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 17
Larimer & Weld Counties
by Jill Jamieson-Nichols
Retail is following rooftops
into the town of Erie.
The first King Soopers store
in Colorado where customers
can order online and pick up
groceries in their car will open
late this year on 20 acres at
the northwest corridor of High-
way 7 and Sheridan Parkway in
Vista Ridge Marketplace.
Several other retail/commer-
cial projects are expanding or in
the planning stages:
Nine Mile Corner, an approx-
imately 45-acre development, is
proposed for the southeast cor-
ner of Highway 287 and Arapa-
hoe Road. The town is partner-
ing with Evergreen Devco Inc.
to develop the town-owned
property, which is within an
urban renewal area. Nine Mile
Corner will include retail along
the highway, likely with medi-
um and high-density residen-
tial to the east, said Evergeen
Devco’s Tyler Carlson.
Four Corners is a roughly
46-acre mixed-use develop-
ment at the southwest corner
of Erie Parkway and County
Line Road that will include
approximately 10 acres of com-
munity commercial. Erie Four
Corners LLC, which is affiliated
with RMCS Inc., recently pur-
chased the site for $7.78 million,
according to public records.
Coal Creek Center is an exist-
ing, approximately 33-acre,
Walgreens-anchored develop-
ment at the southeast corner
of County Line Road and Erie
Parkway. Burger King, the
town’s first national restaurant
chain, is under construction,
and a child care center and
speculative office building are
New housing is driving retail development in Erie. Much of the new development is occurring on the Weld
County side of town.
by Jill Jamieson-Nichols
A self-storage property near
the Colorado State University
campus in Fort Collins sold for
$2.1 million in an off-market
transaction.
Capstone Development sold
Johnson Drive Self Storage to
255 Johnson Storage LLC. The
buyer, a Fort Collins group,
recently sold a business and will
operate the property, said John
Rue of CBRE Inc., who repre-
sented the seller with CBRE’s
Blake Craig. Kevin Phelan and
Peter Kelly of CBRE represented
the buyer.
Located at 255 Johnson Drive,
Johnson Self Storage consists of
251 units. Located catty-corner
from the CSU campus, it is next
to the 665-bed Summit on Col-
lege student housing property
and caters to CSU students.
Built in 1954, it offers upside
with below-market rents and is
located on 2.2 acres with rede-
velopment potential, said Craig.
Capstone, which devel-
oped The Summit, reportedly
acquired the property about 1½
years ago in case it needed addi-
tional parking for the student
housing.
Other News
n
Chrisland Real Estate Cos.
plans to acquire a “significant”
amount
of
N o r t h e r n
Front Range
real estate,
and Chair-
man and co-
founder
Nick
Christensen
will return to
the company
to assist with
its growth.
“In the wake of our sale to
Scheels and Johnstown Plaza
LLC, and previous sales of
properties to the Spanos Corp.,
Bonefish Land Lease LLC and
Catalina Properties LLC (at
2638 S. Timberline Road in Fort
Collins), we are well capitalized
and in good position to add
well-located existing buildings
and zoned land to our assets
under management,” said
Chrisland CEO
Ryan Schae-
fer.
“We will utilize our com-
pany resources, current inves-
tor capital as well as selectively
add additional, like-minded
and accredited investors to our
investment group.”
Chrisland Investments III
LLC is under contract to pur-
chase a downtown Fort Collins
property and is evaluating pos-
sible development of brown-
stone homes on the site.
Christensen, who has been
executive officer of the Larimer
County Sheriff’s Office for the
past five years, said he is grate-
ful for the opportunity to have
served in that capacity and will
remain an adviser, supporter
and volunteer. “At the same
time, I am eager to return to
Chrisland Cos. to work with
our excellent team, and assist
and help guide the company’s
growth under Ryan’s inspiring
leadership,” he said.
Chrisland recently moved
into a new office at 3665 John F.
Kennedy Parkway, Building 2,
in Fort Collins to accommodate
its growth, including expanded
brokerage and development
consulting services. It will have
an open house there from 4 to 6
p.m. Thursday, March 31.
s
Nick Christensen
