LONGMONT, CO – [July 22, 2022] – Blue West Capital has completed the sale of a single tenant net lease industrial property located at 600 Weaver Park Road in Longmont, CO for $1,925,000. Robert Edwards and Tom Ethington, of Blue West Capital, exclusively represented the buyer. The buyer was a Colorado-based private real estate investment company. The seller was a Colorado-based investor.
The property features four 10×10 overhead doors, heavy 800-amp 3 phase power, and an easily divisible floor plan. The property is positioned in an affluent area of Longmont with an average annual household income of $103,000 within five miles. The property’s proximity to Ken Pratt Boulevard provides convenient access to both Interstate 25 and Highway 287. The tenant intends to vacate the property at the end of their lease, allowing the buyer to increase the rental rate. The current tenant’s rental rate is 50% below market.
“Investor demand for quality net lease industrial properties is insatiable. In order to secure the highly coveted deal, our buyer quickly toured the property, increased the offered price three times, provided the seller additional time in the purchase contract to find a 1031 exchange property, and removed all financing contingencies,” said Robert Edwards, Managing Partner.