CBRE announced today that it recently completed the $6.0 million sale of the 8.3-acre Campion Industrial Park located at 225, 253 and 255 42nd Street Southwest in Loveland, Colorado. CBRE's Julius Tabert represented the seller, The Rocky Mountain Conference of Seventh-day Adventists, along with Robert McConnell of RE/MAX Alliance. CBRE's Mike Eyer and Jon Rue represented the buyer, Windsor-based Schuman Companies, who purchased the property in a sale that closed July 12.
"Colorado's industrial market has continued ramping up over the past year. Vacancy is low, lease rates are rising, and there are very few properties for sale right now. When we brought this opportunity to Schuman Companies, they recognized its potential to increase in value and the benefits of gaining a stronger foothold in Northern Colorado's booming industrial sector," said Mr. Rue, Vice President with CBRE's Northern Colorado office.
Located two blocks west of Highway 287 between South Loveland and North Berthoud, Campion Industrial Park consists of three buildings plus a cell tower and vacant lot, which is currently used as fenced outside storage. The three buildings total approximately 100,250 rentable square feet and are demised into 14 tenant units. Clear heights are generally 12 feet with the exception of one unit that has a clear height of 23 feet. All three buildings have dock-high access and limited direct drive-in vehicle access.
The property was originally built in 1967 with some remodeling/restoration over the past three decades. Including the main buildings, outside storage and cell tower, Campion is fully leased to a diverse mix of companies including Integrated Communications Group, Ability Composites, White Buffalo and Sun Valley Farms Marketing.
"Industrial vacancy rates in Northern Colorado remain at record low levels, making it difficult for local companies to find the space they need to operate and expand their businesses. As industries like energy and construction services continue to thrive in our region, we anticipate demand to only get stronger for industrial spaces like Campion, positioning this as a solid investment for Schuman," said Mr. Tabert, Vice President with CBRE's Northern Colorado office.
Schuman Companies is a Windsor, Colorado-based real estate investment, development and management firm. One of the most active investors in Northern Colorado, the firm's current projects span the residential, multifamily and industrial/flex/office sectors.
CBRE will continue to market Campion Industrial Park for lease following its sale. For leasing inquiries, contact Julius Tabert at +1 970 372 3852 or julius.tabert@cbre.com.
