CBRE Brokers $16M Colorado Industrial Sale
- Nov 05, 2020
CBRE has facilitated the $15.5 million sale of the Rocky Mountain Center for Innovation and Technology, an 811,817-square-foot flex/industrial complex in Loveland, Colo. Senior Vice Presidents Mike Camp and Greg Haynes, along with Vice Presidents Mike Eyer and Julius Tabert, represented the seller, Cumberland & Western Resources.
A local private investor acquired the facility, drawing on a $10 million seller carry back, according to public records. The note carries a 4 percent fixed interest rate over a one-year term. The asset previously traded in 2011, when the City of Loveland sold it for $5 million, Yardi Matrix shows.
Located on 177 acres at 815 14th St. SW, the park encompasses four buildings completed in several phases between 1962 and 1980. The property has fiber optic connectivity and up to 8 MW of power capacity. Additionally, the buildings have a total of three dock-high and seven grade-level doors. The tenant mix includes EWI Colorado, voestalpine Signaling and Lightning eMotors.
The property is a short distance from the intersection between South Lincoln Avenue and 14th Street Southeast. The complex is 6 miles west of Interstate 25 and 50 miles north of downtown Denver.
Earlier this month, CBRE negotiated the $10.3 million sale of Stewart Plaza, an 84,498-square-foot medical office property in Upland, Calif. The brokerage assisted the seller and secured financing for the buyer.