For Immediate Release
Cushman & Wakefield Arranges Sale of 88,000 SF Flex Medical Office/Industrial Asset in Northern Colorado for $8.5 Million
Buyer reconfiguring vacant part of asset to traditional warehouse & office options
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GREELEY, Colo., June 3, 2021 – Cushman & Wakefield announced today the firm has brokered the sale of a unique 88,000-square-foot medical office/industrial flex facility in Greeley, Colorado. The property is approximately 37% net-leased to one of the largest nonprofit health care systems in the country and sold for $8.5 million.
The asset was acquired by a private investor that plans to reconfigure the remaining 55,680 of vacant space, converting approximately 42,000 sf into traditional warehouse space along with over 14,000 sf of office space, or demised into two units beginning at approximately 25,000 sf.
The seller was EWE Warehouse Investments XL Ltd, which was represented in the transaction by Cole Herk, CCIM, Director and Aki Palmer, Managing Director with Cushman & Wakefield’s Fort Collins office.
“The property offers tremendous upside with a combination of stable income and future value with the improvements the buyer intends to make on the vacant portion,” said Cole Herk.
Located at 244 Dundee Avenue, the single-story asset is located near the intersection of 71st Avenue and 4th Street and situated in an Enterprise Zone. The location is also proximate to Highway 34 and the entire local freeway network, the Greeley Mall and other key retail amenities as well as the University of Northern Colorado and the Northern Colorado Regional Airport.
The city of Greeley is located approximately 20 miles east of Loveland, 23 miles southeast of Fort Collins and 60 miles north of Denver.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Media Contact:
Joshua Deale
Cushman & Wakefield
Communications Manager, West Region
+1 415 677 0423
joshua.deale@cushwake.com
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