Office Warehouse

Sitestone

609 14th St SW, Loveland, CO 80537

Listing Price: $13,900,000

Cap Rate
7.94%
Gross SF
135,014
Price/Gross SF
$102.95
Lot Size
10.10 acres
Year Built
1964
Rentable SF
135,014

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 609-639 14th Street SW, a multi-tenant industrial flex building located in Loveland, Colorado. The building serves as corporate headquarters for Vergent Products, a full service, ITAR registered, contractual electronics manufacturer. Rise Broadband, the nation’s largest fixed broadband service provider, is the other principal tenant, serving as its regional network control center and call center headquarters. Both anchor spaces are build-to-suit with customized tenant improvements. The building was originally built as a Samsonite luggage facility and then occupied by Teledyne Water Pik for many years. The property was purchased in 2007 and underwent extensive renovation, resulting in very attractive finishes for Vergent Products and Rise Broadband, the two anchor tenants who occupy 68 percent of the building. The remaining industrial warehouse portion of the building is occupied by Relevant Play and Genesis Hospitality, who utilize the space for manufacturing and distribution purposes. The property lies 2 miles south of downtown Loveland, 5 miles directly west of I-25, 15 miles south of Fort Collins, and 50 miles north/northwest of downtown Denver. The building is also located in Larimer County’s Enterprise Zone, a program designed to spur economic development through incentives related to business investment, company expansion, and new business relocation. The owner has the benefit of minimal management responsibilities, as all tenants will have NNN leases in place by October 2018.

Investment Highlights

  • Stabilized Asset in Northern Colorado
  • Long-Term Anchor Leases
  • Vergent Products is an ITAR Registered Manufacturer

Exclusively Listed By

Financing By

Listing Price: $13,900,000

Cap Rate
7.94%
Gross SF
135,014
Price/Gross SF
$102.95
Lot Size
10.10 acres
Year Built
1964
Rentable SF
135,014

Investment Highlights

  • Stabilized Asset in Northern Colorado
  • Long-Term Anchor Leases
  • Vergent Products is an ITAR Registered Manufacturer

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 609-639 14th Street SW, a multi-tenant industrial flex building located in Loveland, Colorado. The building serves as corporate headquarters for Vergent Products, a full service, ITAR registered, contractual electronics manufacturer. Rise Broadband, the nation’s largest fixed broadband service provider, is the other principal tenant, serving as its regional network control center and call center headquarters. Both anchor spaces are build-to-suit with customized tenant improvements. The building was originally built as a Samsonite luggage facility and then occupied by Teledyne Water Pik for many years. The property was purchased in 2007 and underwent extensive renovation, resulting in very attractive finishes for Vergent Products and Rise Broadband, the two anchor tenants who occupy 68 percent of the building. The remaining industrial warehouse portion of the building is occupied by Relevant Play and Genesis Hospitality, who utilize the space for manufacturing and distribution purposes. The property lies 2 miles south of downtown Loveland, 5 miles directly west of I-25, 15 miles south of Fort Collins, and 50 miles north/northwest of downtown Denver. The building is also located in Larimer County’s Enterprise Zone, a program designed to spur economic development through incentives related to business investment, company expansion, and new business relocation. The owner has the benefit of minimal management responsibilities, as all tenants will have NNN leases in place by October 2018.

Exclusively Listed By

Financing By

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