CBRE announced the sale of Plum Tree Plaza, a four-building industrial property totaling 73,170 sq. ft. in Fort Collins, Colorado, to Nectar Equities, LLC. The sale was an off-market transaction.
CBRE’s Patrick Devereaux, Jeremy Ballenger, Tyler Carlson, James Brady and Campbell Davis represented the seller, Ogilvie Partners.
The four-building complex is located at 2573, 2579, 2601 and 2607 Midpoint Drive. The asset was constructed in the late 1990s by WW Reynolds Companies. Plum Tree Plaza is 100% leased to four tenants and anchored by Larimer County (government tenancy) and Indivior (life sciences tenancy).
“The buyer was attracted to the strength of the Fort Collins industrial market and the tenants’ long-term commitment to the asset. This sale is indicative of the larger trend of capital pursuing durable long-term cash flow,” said Mr. Devereaux, senior vice president at CBRE.
The property is located two miles from Colorado State University, three miles from downtown Fort Collins and one mile from Interstate 25, providing convenient access to all of Fort Collins.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.