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ARCHIVED  February 1, 1997

What’s available out there? Brokers choose their top listings

Businesses looking to relocate to the northern Front Range, or those moving within the region, have an ever-changing landscape of choices when it comes to selecting a new location.Whether looking for an existing site or contemplating new construction, there are plenty of places to look. The Business Report asked area commercial real estate brokers to provide brief rundowns of what they consider to be their top listings.
Here’s a sampling of what’s available for sale or lease along the northern Front Range.Stroh lists ample developable landNear the southeast corner of U.S. Highway 34 and Denver Avenue in Loveland, Dan Stroh of Stroh & Co. Realty & Auctions Inc. is selling 8.5 acres – the last property available in the Loveland Business Plaza. Adjacent to the showcase Mann 12-plex theaters, the property fronts on Highway 34 and would be ideal for retail or office uses.
Owned by Davis Industries of Denver, the current asking price is $2.50 per square foot. Other projects planned nearby likely will make this a hot commercial corner in the coming years.
Stroh also lists 140 acres at the Crossroads Business Park at Interstate 25 and Crossroads. Already home to the Wal-Mart Distribution Center and Complex Tooling Inc., the land is fully developed, zoned and annexed to Loveland.
Sites are available from approximately 1.5 acres to the entire 140 acres. Asking price is $1.30 per square foot, an amount which can go up or down depending on location and size of lot. The park is suited for light-industrial and warehouse users.More land offered in LovelandNear Stroh & Co.’s Loveland Business Plaza offerings is a total of 25 additional acres for office and retail.
Listed by Eric Holsapple of Moore & Co. Commercial in Loveland, 17 acres are available at the northeast corner of Highway 34 and Denver Avenue.
Annexed to the city, the property is available in bulk or can be subdivided.
The land is ideal for a neighborhood shopping center, office buildings or high-density residential, Holsapple said.Sitzman-Mitchell offers office sitesDavid Sitzman, president of Sitzman-Mitchell & Co. in Fort Collins, is sure he has a pretty unique offering: three office pads near the Fort Collins Marriott Hotel that already have received all city approvals and are permit-ready.
“There’s no nine months to one-year wait for project approval here,” he said.
The land, north and west of the Marriott, is in the Arena Office Park. Two parcels are ready for 6,000-square-foot office buildings. The third will support an 11,000-square-foot project.
Mitchell said he would prefer to build the offices and retain ownership while leasing to their occupants. However, he is open to an outright sale of the land or a build-to-suit.
Asking price for the two smaller pads is $170,000 each. The larger one will cost $300,000.Motel available in tourist hot spotThe Columbine Inn in Estes Park is being sold, with Eric Blackhurst of Blackhurst & Rosener Realty and Investments marketing the property.
Located on U.S. Highway 34 on the east end of Estes Park, the motel currently has 18 units on two acres with plenty of room to expand. Owners’ quarters also are included.
With an asking price of $849,000, the motel can be operated year-round or on a seasonal basis, as the current owners now do.
Blackhurst also is marketing two established Estes Park businesses.
The Candle Corner, 109 W. Elkhorn Ave., has been in operation and under current ownership for eight years as a year-round venture. Asking price is $75,000, plus inventory.
Geppetto’s Toy Factory, an Estes Park staple for about 20 years, also is on the market. At 160 W. Elkhorn Ave., the store offers novelties, collectibles, toys and stuffed animals. Asking price is $65,000.
Both businesses have good repeat clientele, Blackhurst said, and assumable leases with landlord approval.Investment office property citedChris Wells of Veldman Morgan Commercial is offering a fully leased prime office building at 724 Whalers Way.
The 7,300-square-foot facility is fully leased to one tenant, Sitel Corp.
Labeled Building I at the Boardwalk Office complex, asking price is $860,000, with an $86,000 net income on the lease.
Veldman Morgan also is offering vintage office space in Old Town Fort Collins.
The historic Linden Hotel and Loomis building, recently renovated by the owners, have a combined 7,000 square feet of office space available on their third floors.
Company president Dave Veldman said the space can be split into a variety of configurations, or the whole can be home to one tenant.
At the corner of Walnut and Linden streets in downtown, the Linden Hotel was historically restored with fine woodwork and an interior reminiscent of its early days. Restrooms sport private showers.
The Loomis building captures a more updated look, with the top floor wrapped in glass.
Rates are $12 triple net with tenant finishes to suit.One-of-a-kind Wyo. industrial park Roy Howell, associate broker at #1 Properties in Cheyenne, is listing the I-80 Industrial Rail Park situated 29 miles east of Cheyenne.
It will be a major point of transfer for rail-to-truck and truck-to-rail routing for the nationwide transportation system.
A 260-acre project, it is designed to support heavy use and hazardous materials, even hosting a special hazardous materials unit.
The goal is to attract manufacturers who need such transload facilities to have bulk raw materials shipped in and produced goods shipped out.
The I-80 Industrial Rail Park is designed to draw tenants from along the Front Range, from Jackson, Wyo., to Pueblo.
Back in Cheyenne, Larry Sutherland of #1 Properties is marketing a 2,442-square-foot auto-service building and surrounding land for $265,000.
The property, at 3714 E. Lincolnway, consists of a three-bay auto-repair building with an office, stock room and reception area.Realtec markets new retail centerConstruction has just begun on Prospect Park at the southwest corner of Shields Street and Prospect Road, where Rhys Christensen of Realtec Commercial Real Estate Services Inc. is working to lure tenants.
The center will be anchored by Payless Drug. In addition, four other buildings will be available. Two will be approximately 5,000 square feet each, and the other two approximately 7,000 square feet each.
Lease rates are $15 triple net for in-line retail and $17 triple net for end cap space.
The project is near Colorado State University and adjoins property that sports newly-constructed apartments.
Realtec’s Jim Mokler is working to sell 149-155 W. Harvard St. in Fort Collins, part of the Solar Office Plaza. The two buildings, Solar I and Solar II, are 8,080 square feet each.
Asking price is $1.3 million, or $81.25 per square foot. Net owner income is approximately $133,200.
The site is suited for a user with expansion needs.Greeley office space for sale, leaseMichael Ehler, commercial broker at The Group Inc. of Greeley, is listing a 9,407-square-foot office building here for $615,000.
At 2105 Clubhouse Drive, the Class A office space sits on the Highland Hills Golf Course, which is south of West 20th Street and west of 47th Avenue.
The price amounts to $65 per square foot, or 50 percent of replacement cost.
Additionally, four suites within the building are available for lease. Configurations range from 700 square feet to 3,200 square feet, with lease rates of $10 to $13 full service.
Ehler said he hopes to either fill the building, then sell it as an investment property, or find an owner-user to buy the site.
Another choice opportunity offered by The Group is North Park Place office condominiums at the northwest corner of 29th Street and Taft Avenue in Loveland.
There, Ehler said, five units are for sale at a rate of $85 to $95 per square foot. They are available for individual sale or as a package deal to an investor. Square footages range from 775 square feet to 1,614 square feet.
The same building also has three units for lease in the same size range. Rates run from $12.25 to $12.75 as a gross lease plus utilities.Stroud markets grocery buildingThe 65,670-square-foot Steele’s Market building at College Avenue and Foothills Parkway is for sale pending approval of that grocer’s plans to move to another site.
Larry Stroud of Miscio & Stroud Inc. has the property listed for $4.3 million. It features 52,705 square feet on the main floor with the remainder as a mezzanine, office and storage.
“Empty grocery buildings usually are a sign of a declining economy,” Stroud said, “but not in this case. It’s simply so they can expand to another location.”
A deed restriction stipulates that the buyer cannot use the building as another grocery store.
The building was constructed in 1974 with additions in 1984 and 1987.
Meanwhile, Andy Miscio is marketing approximately 7,500 square feet of yet-to-be-constructed prime office space in downtown Fort Collins.
Located at the southeast corner of Mountain Avenue and Mathews Street, the project will be anchored by Home State Bank.
Completion of the project is expected by the end of the year, when tenants can occupy units of 1,500 square feet or greater.
Lease rates are about $13 to $17, plus a pro rata share of common area costs.
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Businesses looking to relocate to the northern Front Range, or those moving within the region, have an ever-changing landscape of choices when it comes to selecting a new location.Whether looking for an existing site or contemplating new construction, there are plenty of places to look. The Business Report asked area commercial real estate brokers to provide brief rundowns of what they consider to be their top listings.
Here’s a sampling of what’s available for sale or lease along the northern Front Range.Stroh lists ample developable landNear the southeast corner of U.S. Highway 34 and Denver Avenue in Loveland, Dan Stroh…

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