Cushman & Wakefield has orchestrated the $7.7 million sale of 390 Mountain View Drive, a 106,180-square-foot industrial building in Berthoud. The sale price factors out to more than $72.50 per square foot.
The commercial real estate services firm's Denver-based team of Matt Trone, Sam Slaton and Steve Hager represented the seller in the transaction. Buyer US Engineering, a full-service mechanical contractor, which will fully occupy the asset, was represented by Bruce Mawhinnie of Newmark Grubb Knight Frank. The property was formerly occupied by PTI USA Manufacturing.
Situated on 13.37 acres on State Highway 56 near Interstate 25, 390 Mountain View Drive was originally constructed in 1999. Berthoud is located in Colorado's Northern Front Range, approximately halfway between Denver and Fort Collins.
"We anticipated that the availability would attract a great deal of interest but not at the level that we actually saw," said Trone. "That submarket has been impacted by the slowing down of oil and gas activity. But inventories are still very tight. US Engineering is in the construction business, and users are very active in that market right now."
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2014 globally, this group completed more than 8,200 industrial lease and sale transactions, including Capital Markets transactions, totaling nearly 337 million square feet with an aggregate value in excess of $16.8 billion.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm's 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake