Colorado Real Estate Journal -

CSURF buys multifamily land near campus for $1.78m

by Jill Jamieson-Nichols

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The Colorado State University Research Foundation paid $24.40 per square foot for 1.67 acres of land close to the CSU campus.

CSURF bought the Fort Collins property from Hellenic Plaza LLC for $1.78 million. It was in strong demand because of the zoning and proximity to the main campus, said Steve Kawulok of Sperry Van Ness/ The Group Commercial, who represented the seller.

The property comprises one of the few undeveloped lots in close proximity to campus, and, with the university planning to grow from approximately 27,000 to 35,000 students, CSURF was a logical buyer, he said.

Kawulok said the university has no immediate plans to develop the land, but it likely will house some kind of student housing in the future.

An apartment community was approved for the property in 2009, but it never was built.

Other News

The former Nordy’s BBQ building at 151 N. College Ave. in Old Town Fort Collins sold for $1.59 million.

The buyer, 151 LLC, plans to put a salon in the second-floor space and seek a tenant for the approximately 4,000-square foot, street-level restaurant space, said Mike Eyer of Sperry Van Ness/The Group Commercial. The building totals 7,066 sf and was renovated in 2010.

Eyer and Kyle Lundy of SVN/ The Group Commercial represented the seller, 151 N. College Ave. Aki Palmer and Jim Palmer of Cassidy Turley Colorado represented the buyer.

Local investors Robert W. and M. Cecelia Meismer and Main H & L Property LLC paid $1.25 million cash for a fully leased industrial building at 3555 S. Lincoln Ave. in Loveland. Berthoud International LLC was the seller.

Stoneworks of Colorado and Natural Gas Services Group occupy the 15,267-sf building, which is located in South Loveland and offers easy access to Interstate 25.

Mike Eyer of Sperry Van Ness/The Group Commercial represented the buyers. He and Julius Tabert, also of SVN/The Group Commercial, were the listing brokers.

Turtle Properties paid $950,000 for a 10-unit multifamily property at 1206, 1212 and 1218 Pomona St. in Fort Collins. Juniper Properties was the seller.

Brian Mannlein of Cassidy Turley Colorado handled the transaction.

New Prospect LLC sold 2.56 acres of land at 805 E. Prospect Road in Fort Collins to 805 East Prospect LLC for $800,000.

Cassidy Turley Colorado brokers Russell Baker and Jason Ells represented the seller.

Timberline Team SH bought an 8,640-sf office building at 4102 S. Timberline Road in Fort Collins from the U.S.

Small Business Administration for $658,000.

Cole Herk and Jason Ells of Cassidy Turley Colorado represented the seller.

NoCo Sheet Metal leased 7,500 sf of industrial space at 1106 N. Boise Ave. in Loveland.

Patrick O’Donnell of Realtec Commercial Real Estate Services represented the landlord, Ward Spaces LLC. Kyle Lundy of Sperry Van Ness/The Group Commercial represented the tenant.

BID LLC leased 7,450 sf of industrial space at 1418 E. Magnolia St. in Fort Collins to Brian Weaver. Travis Ackerman of Cassidy Turley Colorado represented the tenant.

VanDyne SuperTurbo, a clean-energy organization, relocated its headquarters and primary research facility to 10,830 sf of office/industrial space at Precision Office Park at Centerra in Loveland.

A Woodward spinoff, VanDyne is focused on the design, development and production of the SuperTurbo for the global automotive market and heavy duty engine manufacturers.

The company will continue to operate product durability test cells at Colorado State University’s Engines and Energy Conversion Lab in Fort Collins.

“The flex office space at Centerra is designed to accommodate research-and-development demands, in addition to creating environments in which companies can easily expand,” said Ron Kuehl, vice president of real estate for Centerra developer McWhinney.

“Expanding in Northern Colorado allows us to grow our company’s solutions globally and increase our research-anddevelopment capabilities now and in the future,” said Mark Herbst, VanDyne SuperTurbo president and chief operating officer. “We toured over 30 properties throughout Northern Colorado, and the building at Centerra is a perfect fit.

McWhinney provided us flexibility and a lease structure that works well for our business plan.” Christopher Paul Boyd bought 15.76 acres of retail land at Southgate and Champion drives in Windsor from Richard Reimer Sr. for $590,000.

Michael Ehler of Realtec Commercial Real Estate Services was the listing broker.

Erik Broman, also of Realtec, represented the buyer.

Boyd purchased the land, which is located near the former Iron Mountain Autoplex, as an investment, Broman said.

Tack House LLC purchased a 7,200-sf light-industrial building at 124 Racquette Drive, north of Fort Collins, for $385,000. The owners are completing the design to convert the building to a microbrewery and taphouse.

Tom Livingston of Livingston Real Estate & Development was the listing broker.

Sue McFadden of Green Tree Real Estate was the selling broker.

KB Oil Tools LLC paid $400,000 cash for a 7,200-sf industrial property at 207 First St. in Kersey.

Kate Struzenberg of Sperry Van Ness/The Group Commercial represented the buyer. Nick Berryman of Realtec Greeley represented the seller, Platte Valley Fire Protection District.

Rocky Mountain Medical Outfitting & Recycling signed a lease for 6,200 sf of industrial space at 2611 11th St. in Greeley.

Kyle Lundy of Sperry Van Ness/The Group Commercial represented the tenant. Zach Sluyter and George Sluyter were the in-house brokers for landlord Sage Management Group LLC.

Limitless Development LLC leased a 3,307-sf unit at 1606 S. Lemay Ave. in Fort Collins. The space is located in the Park Central retail center, at the intersection of Prospect Road and Lemay.

The property houses an x-fit and personal training business operated by Ryan Garcia.

Tom Livingston of Livingston Real Estate & Development represented the tenant.

Travis Ackerman of Cassidy Turley Colorado was the listing broker.

Red Robin Express LLC leased 2,274 sf of space at The Summit on College, 120 W. Stuart St., in Fort Collins. It expects to open a Red Robin Burger Works there in October.

There currently are five Red Robin Burger Works, four of which are in Colorado.

Joe Beck and Ed Beck of SRS Real Estate Partners represented the tenant. Jim Palmer of Cassidy Turley Colorado represented the landlord, The Summit on College. The Colorado State University Research Foundation paid $646,000 for a 3,239- sf office property at 1304 S.

Shields St. in Fort Collins. Eyecare Land Management LLC was the seller.

Peter Kelly of Realtec Commercial Real Estate Services was the listing broker. Rick Callan of CSURF represented the buyer.