DENVER, CO – [January 31, 2019] – Blue West Capital has completed the sale of a two-story office building located at 4701 Royal Vista Circle in Windsor, CO. The 34,645 square foot office building sold for $5,550,000 or $160.19 per square foot. Tom Ethington and Rob Edwards with Blue West Capital and Blake Holcomb with Pinnacle Real Estate Advisors represented the seller in the transaction while Joshua Guernsey with Way Pointe Real Estate represented the buyer.
“Overall, the unobstructed panoramic views of the Rocky Mountains from the second floor coupled with the recent capital improvements and overall condition of the property, ample on-site parking, access and efficient layout of the building – make this one of the more desirable owner-user opportunities in Northern Colorado,” stated Blake Holcomb.
“Since the start of 2018, 13 vacant 30,000+ SF office properties have sold in Colorado with a median price per square foot of $101.74. We were able to achieve $160.19/SF which represents the 3rd highest price per square foot in the past 12 months. We negotiated multiple post-closing escrow agreements to resolve buyer’s objection to unknown future infrastructure capital improvements required by CDOT and the Town of Windsor to ensure a smooth closing.” stated Tom Ethington.
Immediately located off I-25 at the Windsor Fort Collins exit, the Property is ideally situated in Larimer County. Developed in 1997, and added on to in 2011 this asset continues to be one of the premier owner user office assets in this submarket. Windsor and the surrounding area is currently undergoing a transformation with significant development activity that continues to redefine the area. As the population and business presence in Larimer County continues to grow year over year, developers have taken notice and are taking advantage.