Monday, December 24, 2012

Another Leased Space by Loveland Commercial

On October 8, 2012, FITS Services, Inc., signed a lease for a 1,348 s.f. space at 3780 N. Garfield Avenue in Loveland, CO, a property listed by Nathan Klein at Loveland Commercial, LLC.  The North Garfield property, owned by Ehrlich Commercial Management, LLC, is a functional multi-level office building with recently remodeled interior space.  Additional suites are available in the building ranging from 134 s.f. to 8,431 of contiguous s.f.  Contact Nathan Klein at Loveland Commercial, LLC at (970) 222-2473, for more information.

Friday, December 7, 2012

Loveland Commercial Client to bring more to Loveland's Nightlife

Nathan Klein, Broker and Partner of Loveland Commercial, LLC assisted Sebastian Birch, owner of the new Encore Lounge, in securing a lease for a 2,500 s.f. retail space located at 314 E. 4th Street, in Downtown Loveland.

Several properties were considered before deciding on the 4th Street space, owned by Morgan Brothers Rentals, LLC of Loveland, CO.

See the article below about the hopes to open The Encore Lounge in early 2013 after renovating the space to include a bar, kitchen, stage, and more.

Owner of future Encore Lounge hopes to brighten up Loveland's nightlife

By Craig Young Reporter-Herald Staff Writer


Sebastian Birch poses for a photo Wednesday in the space where he plans to open The Encore Lounge, a new jazz lounge, early next year. (Jenny Sparks)
LOVELAND -- A local businessman who believes Loveland's nightlife needs "a little more life" is planning to open a new lounge downtown.
Sebastian Birch recently signed a lease on 314 E. Fourth St., Suite A, and is getting ready to start renovations.

He hopes to get The Encore Lounge open sometime after the first of the year.
Birch plans to split the long, narrow space in the building into two sections, with the kitchen in between. The front, he said, "is going to be a quieter, more romantic setting. ... Or you can go into the back room where it opens up with stages, where everything's happening. "I'm hoping to get some jazz acts, some comedy on the weekends maybe, and open mic," he said.

Birch, a Loveland resident, said he was trained as a chef and has worked at Henry's, Old Chicago and briefly at the 4th Street Chophouse.
He said he'll be serving a "happy hour menu - nine or 10 dishes that aren't too big" such as crab cakes and mussels.  Drinks at the bar won't be too high-end, he said, although he's teaming up with his brother, who works in the wine business, to bring in an interesting list of premier wines.

Birch said he selected Loveland for his first business venture because he believes the demographics are right. "I just think the Loveland nightlife could use a little more life in it. Fort Collins already has enough things going on."

The 2,600-square-foot space for The Encore Lounge takes up the western half of the building that is occupied on the east by Aspen Photo & Design.
The 105-year-old building has a colorful past, according to architect Stacee Kersley, who's working with Birch on the renovation. She said it has housed a hardware store, an automobile showroom, a shoe store, a bowling alley and many other businesses.
Birch said he hopes to refinish the wood floors and possibly expose some of the old brick on the walls.
Craig Young can be reached at 635-3634 or cyoung@reporter-herald.com. Follow him on Twitter: @CraigYoungRH.

Thursday, December 6, 2012

Congratulations to Jared Waterhouse

Congratulations to Jared Waterhouse on the purchase of commercial property off of North Madison Avenue in Loveland, CO.  Jared's company, All Pro Sealing and Asphalt, needed a property that would enable them to move from their previous location in Windsor, CO.  All Pro Sealing and Asphalt is a paving and maintenance contractor that serves all of Northern Colorado.

The new location is at 729 N. Madison Avenue, which is on the NWC of East 7th Street and N. Madison Avenue in Loveland, CO, totaled 2.36 acres with a 5,000 square foot warehouse and a 768 square foot office/house and was purchased for $275,000, closing May 2, 2012.  The property was unique in its challenges in that it had been annexed in to the City of Loveland, but never "developed" with full infrastructure.  Mr. Waterhouse's knowledge in the construction field will help him through the various development requirements of the site over time.

The property purchased was listed for sale by Nathan Klein, Partner and Broker for Loveland Commercial, LLC out of Loveland, CO.  Mr. Waterhouse, the buyer, was represented by Patrick O'Donnell of Realtec.

Loveland Commercial Client continues "Making Monsters"

Distortions Unlimited begins season 2 of 'Making Monsters'

Distortions Unlimited once again is scaring people with its morbid creations on the Travel Channel.

The second season of "Making Monsters" premiered Sunday on the Travel
premiered Sunday on the Travel Channel. It gives viewers a behind-the-scenes look at the Greeley-based art studio that makes horror props, animatronics and masks.

The company is well-known in Northern Colorado for its baroque displays in haunted houses. Back in the 1990s, for example, the company claimed to have sold $400,000 in life-size electric chair replicas complete with flashes, smoke and crackling electric current.

The Travel Channel series follows Distortions Unlimited owners Ed and Marsha Edmunds as well as renowned Hollywood creature- and mask-maker Jordu Schell on the road.

This season, they make a red-eyed, smoke-spewing tiki in Oahu, Hawaii, and a disturbing twisting centipede in Atlanta.

The team also created a stage mask for rock band Megadeth, a 25-foot skeleton for an outdoor attraction in Baltimore and a larger-than-life Gatekeeper for Dick Van Dyke's Southern California home.

Distortions Unlimited morbid creations featured on the Travel Channel.
(NCBR "The Eye" October 5, 2012)

Nathan Klein, Broker/Partner of Loveland Commercial, LLC, previously represented Distortions Unlimited in a lease transaction for a Greeley warehouse where they make their animatronics.

Wednesday, December 5, 2012

Loveland Commercial Client Makes Front Page News

Loveland residents don't forget their cats or dogs come Christmas

Pet owners include their pets on their holiday shopping lists and even taking them to see Santa
By Shelley Widhalm Reporter-Herald Staff Writer

Marni Henke, left, and Haleigh Deubach, 9, look on while Nicole Deubach takes a portrait of Henke's dog named Hanna with Kyle Anderson dressed as Santa Paws during the Holiday Pix with Santa Paws event on Saturday, at Hank's Pet Food Market, 2245 W. Eisenhower Blvd. ( Steve Stoner )
Kyle Anderson, dressed as Santa Paws, holds a dog named Mr. Big on his lap during the Holiday Pix with Santa Paws event on Saturday at Hank's Pet Food Market, 2245 W. Eisenhower Blvd. (Steve Stoner)  
  

Chinese crested and schnauzer mix Char's wishes are on the Coffeys' Christmas list.
The seven-year-old dog will be getting treats and a couple of stuffed hedgehog toys.
"She can have all kinds of toys. She only likes hedgehogs," said Loveland resident Susan Coffey, pet parent to Char, along with her husband, Chuck Coffey. "She's a hedgehog snob."
The Coffeys are part of a growing trend to include dogs and cats in the gift-giving tradition of the holidays, as well as photos with Santa.
"I think it all started with folks looking at pets as family members," said Teresa DeGuelle, who co-owns Hank's Pet Food Market with Lisa Sauer, which they opened in March 2011.
Dogs and cats moved up the family ladder about 10 years ago, earning names such as the four-legged or furry child to their pet parents. And by shedding their status as outdoor animals, the family pets started wearing specially designed pet clothes, sleeping in comfy beds, attending doggie day camps and playing with toys galore.
"We really are shocked at how many people buy presents for their grand-dogs or cats," Sauer said Saturday afternoon in the crowed Loveland store.
A large number of customers purchase gifts for the pets of their children, she said.
They step up the ante during the holidays, purchasing more expensive toys, buying more treats and spending more in general.
They spend an average of $60-75 instead of $45, DeGuelle said.
And they start shopping in mid-October.
Haleigh Deubach, 9, left, and Kyle Anderson, dressed as Santa Paws, look on while Rackel Ward feeds a treat to her Mr. Big during the event
DeGuelle and Sauer expect to see sales increase 30 to 40 percent during the holidays, especially in December, Sauer said. "December will definitely be our biggest month of the year," she said.

At Hank's, the most popular gifts for dogs are interactive games, where dogs have to move pieces to retrieve food, and stuffed toys with a squeaky inside. Cats are getting anything stuffed with catnip or with feathers that imitate bird movement.

"They like to see the happy looks on their (pets') faces when they get a toy or treat," Sauer said.
When Char gets a new toy, she gets "so excited," Susan Coffey said. "She spins and she loves to back up and have the toy tossed to her."

Loveland resident Carlee Boettger and her sister, Ellie Sheppard, and nephew, Hudson Sheppard, who she lives with, have a Christmas list for their three dogs, Munchie, Eddy and Daisy. On Daisy's, there's a leash and collar, while Eddy needs a new blanket and Daisy just wants food.
"I love to see how happy they are and to celebrate the season with everybody I love, family and pets," Boettger said.

Randy Samson of Loveland plans to give his Brittany spaniel, Ace, a chew bone, but not anything too special, except photos with Santa at Hank's.

For the second year, Hank's offered Santa Paws holiday photos and a bake sale two Saturdays in a row. The event raises funds for and awareness about Izzy's Place Senior Dog Rescue, a rescue organization for abandoned and homeless senior dogs.

"We don't have any kids anymore, but we have dogs," said Samson, who owns two dogs with his wife, on Saturday.

"Getting pet photos with Santa shows an acceptance of viewing the pet as a family member or even as a kid," said Nicole Deubach, co-organizer and caregiver at Izzy's Place with Shereen Raucci.
"There's more love and respect for dogs," Deubach said.

Shelley Widhalm can be reached at 669-5050, ext. 531, or swidhalm@reporter-herald.com. Follow her on Twitter: @ShelleyWidhalm.

Tuesday, November 20, 2012

Loveland Commercial Finds Bark Park a New Home

Loveland Commercial, LLC client, Bark Park, LLC, owned by Loveland business owner Debbie Gutierrez, has signed a lease on the former Sunbelt Rentals property located at 211 Barberry Ave., in South Loveland that will become the home of a new state of the art dog daycare facility.  The property was an ideally unique combination of divided indoor kennel space, outside fenced play area, and retail area with an excellent location along US Highway 402/Southwest 14th Street in Southwest Loveland that will be convenient for the employment corridor of US Highway 402 and the new Rocky Mountain Center for Innovation and Technology.  The property includes two buildings with 6,080 s.f. and is currently undergoing minor building renovations with a plan to open in late 2012/early 2013.  The deal was brokered by Nathan Klein, Partner/Broker for Loveland Commercial, LLC.

Monday, November 19, 2012

Bank of Commerce Mortgage Opens 22nd Location

Loveland Commercial, LLC would like to welcome Bank of Commerce Mortgage as a new full service mortgage company in Northern Colorado.

Bank of Commerce Mortgage has leased 4,730 s.f. at 255 E. Monroe in Fort Collins, which is the former longtime home of Realtec Commercial Real Estate Services, Inc.  "This was a unique opportunity for a similar functioning business to take over a great office space in a great location in the heart of Fort Collins with very little tenant finish requirements", said Nathan Klein, Partner and Broker for Loveland Commercial, LLC, who represented Bank of Commerce Mortgage in the transaction.

Bank of Commerce Mortgage is a California based private mortgage company with 22 location in 3 states including Colorado, California and Nevada.  This location marks BOC's third Colorado location including offices Denver and Boulder.

Friday, November 16, 2012

Sale of 2.4 Acres Industrial Land in Loveland

On June 15, 2012, the property at 729 N. Madison Avenue was sold by Nathan Klein of Loveland Commercial, LLC to Jared Waterhouse.  The property was 2.4 acres and consisted of 5,000 s.f. industrial warehouse and 900 s.f. converted office/residence.  The property was bank-owned at the time of sale and sold for $275,000.  The buyer was represented by Realtec Loveland.

Friday, October 26, 2012

Don Marostica of Loveland Commercial, LLC to retire

Loveland Commercial's Marostica to retire



By Molly Armbrister (NCBR)  October 24, 2012

  
Longtime Northern Colorado commercial real estate professional Don Marostica is retiring by the end of the year.

His partners, Nathan Klein and Blain Rappe, will be buying out Marostica's share of Loveland Commercial.

Marostica and business partner Eric Holsapple were equal partners in the company, but both have been increasingly involved in other ventures in recent years.

Because of those changes, Klein and Rappe have been increasingly involved with the day-to-day operations of the company.

Marostica served for 18 months as the executive director of the Colorado Office of Economic Development and International Trade, and Holsapple recently took a job as the executive director of the CSU Everitt Real Estate Center.

News of the changes was made public at Wednesday's Everitt Real Estate conference at the Marriott in Fort Collins.

Holsapple will remain the majority partner at the firm, Klein said.

The change has "been in the works for awhile," Klein said. He has been at the company since 2004, and became a partner in 2006.

Tuesday, August 28, 2012

Congratulations to Spidertrax, Inc.

Congratulations to Spidertrax, Inc. on their recent purchase of an 8,000 s.f. warehouse building located at 174 12th Street SE in Loveland.  In a deal brokered by Nathan Klein of Loveland Commercial, LLC; Spidertrax will be expanding and relocating its operations from Longmont to Loveland upon completion of interior and exterior improvements to the property.  The building is located on 0.53 acres and sold on July 2, 2012 for $455,000. 

 
Started in 1999 by Thomas Kingston and Heriberto “Eddie” Casanueva, Spidertrax designs and manufactures parts used in construction and conversion of rockcrawling and rock racing vehicles and 4x4’s.  For more information on Spidertrax, please visit their website at www.spidertrax.com.

Tuesday, July 31, 2012

Seeing success is reward for Loveland Commercial's 

Nathan Klein


October 21, 2011 by Pat Ferrier, Coloradoan

Nathan Klein, a partner/broker associate with Loveland Commercial LLC, is seen in the Thompson Valley Town Center Wednesday, which is what his company owns and manages.
Nathan Klein, a partner/broker associate with Loveland Commercial LLC, is seen in the Thompson Valley Town Center Wednesday, which is what his company owns and manages. / V. Richard Haro/For Loveland Connection

NATHAN KLEIN

» Age: 30
» Occupation: Commercial real estate agent, Loveland Commercial LLC
» Education: Bachelor’s degree in business administration, concentrations in finance and real estate, CSU, 2004; graduated summa cum laude
» Family: Married to wife, Krisi; two kids, Olivia, 4, and Carson, 2
» Contact information: (970) 667-7000 x109; Linked In:www.linkedin.com/in/
nathanlklein; Blog: http://northern
coloradocommercialrealestate.blogspot.
com/; Twitter: www.twitter.com/#!/@
lovecommercial
By Pat Ferrier
Question: Explain what you do.
Answer: Loveland Commercial LLC is a full-service real estate development and brokerage company.
Our services are diverse and include commercial real estate brokerage, property management, commercial development and residential development and homebuilding.
While I am a partner in the company and participate in various capacities within each segment of the company, my role is primarily focused on the commercial brokerage and marketing side.
Q: How did you get into the business?
A: While at CSU, I met Eric Holsapple (one of principal owners and founders of Loveland Commercial) who was teaching my real estate development course as an adjunct professor.
Heading into my last semester, I had a strong desire to venture into the commercial real estate world, so I contacted Eric to assist me in finding an internship prior to graduation. Long story short, Loveland Commercial created an internship for me within their company, which turned into a full-time job offer after graduation and eventually gave me the opportunity to buy into the company. I have now been a partner in the company for more than five years.
Q: What are the biggest challenges you or your industry face?
A: The biggest challenge in the commercial real estate industry is the overall economic conditions in the marketplace and the ongoing challenge of getting projects financed.
The challenges that many of the local banks have faced with problem loans have placed a lot of downward pressure on the market as the banks are forced to dispose of problem assets at discounted prices. Also, a lack of adequate capital and high commercial real estate concentrations for many local banks has made it very difficult for them to lend money to our industry. Commercial real estate is traditionally a trailing indicator of economic growth, so that is the first step to seeing our industry press forward positively.
Q: What are the biggest rewards of your job?
A: The biggest rewards of my job are the opportunity to work with so many great business owners and leaders in the community. I really enjoy seeing the many different types of businesses that are located in our community and am constantly fascinated by the risk that business owners take on a daily basis in showing up to work. For me, every deal large or small is important to those involved, and I really enjoy playing a role in those business decisions and seeing those businesses succeed.


Korean Academy of Taekwondo sets grand opening at new downtown Loveland location

Nathan Klein, Broker and Partner at Loveland Commercial, LLC, assisted Scott Granger, owner of Universal Health Solutions dba Korean Academy of Taekwondo, relocate his business from 5010 Granite Street in Loveland, to their new location at 106 W. 4th Street downtown.

Mr. Granger signed a 2 year lease on the 1,815 square foot location and had his grand reopening on June 9, 2012 with free classes, face painting, balloons, games, demonstrations and food and drink.
reporterherald.com
Majority owner and chief instructor Scott Granger said he bought the business, formerly M.L. Parr's Academy of TKD, three years ago and operated it at 5010 Granite St. until reopening at 106 W. Fourth St. on April 5.  
"Moving to a downtown location has been a fantastic decision so far," Granger said. Thanks in part to the increased foot traffic past his door, he has added 14 students since the move, he said.

The Loveland school, which is affiliated with the Korean Academy of Taekwondo in Aurora, teaches the Korean martial arts of taekwondo and hapkido and also submission grappling, Granger said. "We are the only Olympic taekwondo school in the area," he added.  By Craig Young, Reporter-Herald.

Granger, who coaches the Colorado State University taekwondo team, said he will be competing in the national taekwondo championships himself in less than a month.  
Nathan Klein of Loveland Commercial, LLC, represented both the Landlord of the new location, Ada Johnson Family Trust and Mr. Granger as the Tenant in the transaction.


Thursday, July 12, 2012

2012 Leadership Northern Colorado Class Graduates

Nathan Klein, Broker and Partner at Loveland Commercial, LLC, was among those that completed their six month program on Tuesday, June 26 at the Budweiser Event Center.  Twenty-seven participants completed the 2012 program and were recognized at a graduation event sponsored by Public Service Credit Union.  Leadership Northern Colorado has now graduated 85 participants.

Leadership Northern Colorado, a joint initiative of the Fort Collins, Greeley and Loveland chambers of commerce, the Community Foundation of Northern Colorado and the Community Foundation Serving Greeley and Weld County, is designed to build human capacity and to identify, define and address the issues facing the Northern Colorado region.  The program was sponsored in 2012 by McWhinney Enterprises.

The program was produced by the Fort Collins Area Chamber, the Loveland Chamber, the Greeley Chamber, the Community Foundation of Northern Colorado and the Community Foundation Serving Greeley and Weld County with assistance from a steering committee made up of 13 individuals from the different organizations.

Applications for the 2013 Leadership Northern Colorado program will be available in the fall.  Anyone interested in learning more about the program or applying can go to the Leadership Northern Colorado website.

Friday, June 29, 2012

Shortage of Affordable Lots Developing

By Molly Armbrister - Northern Colorado Business Report 

The housing market is still a long way from full recovery but the inventory of low-priced residential lots is fast running dry in at least one Northern Colorado city: Loveland.

The trend is most pronounced in the inventory of lots with price tags that allow homes to be priced in the low-$200,000s, according to Don Marostica of Loveland Commercial, LLC.

His company typically purchases lots under $20,000 in order to sell its homes at prices between $190,000 and $225,000, Marostica said.

Loveland Commercial has about 60 lots left in its possession, and is building between four and six homes per month. In other words, it'll run out of lots in about a year.

Low-priced lots are also becoming harder to find in Fort Collins, Marostica said, though Greeley still has plenty of lots at that price.

Marostica considers the homes his company builds to be "affordable," but worries that it won't be able to continue doing so for much longer, at least not west of Interstate 25.

"(Selling homes at) $300,000 to $400,000 is not what we do," he said. "But maybe that is the new affordable."

In all of Loveland, 820 lots were permit-ready as of Feb. 17, according to the city's tracking reports.
Another 1,672 lots have been purchased by developers but have not been signed off for infrastructure required for a building permit.

The city's report doesn't include pricing information, but Marostica estimated there were fewer than 200 lots that he considers "affordable" in Loveland.

Demand, of course, has played a role.

The housing market in Loveland has picked up in recent months, with home prices and number of homes sold both on the rise. Existing inventory is shrinking, so new homes are once again becoming a necessity.

At the end of 2011, new construction was up 20 percent in Loveland and the market had experienced a 207-percent increase year-over-year in lot sales, according to Ceri Anderson of The Group Inc.'s Centerra office.

Another developer of affordable homes, Jammie Sabin of Aspen Homes of Colorado, said that his company has just about 20 lots left.

Building economical homes is becoming more and more difficult to do, Sabin said.

Sabin defines an affordable home as one costing $250,000 or less. The average price of a home in Loveland in 2011 was $232,801, according to The Group.

Aspen Homes' affordable development in Loveland is called Enchantment Ridge, Sabin said. Homes there can be found for as little as $168,000.

The increase in the price of lots in Loveland is a result of the market recovering from the recession, Sabin said.

When the recession began and builders were forced to abandon projects, many banks ended up with the properties on their books. Those properties were later sold out of foreclosure at rock-bottom prices, also depressing the prices of other lots that were not in foreclosure.

Now, inventories and foreclosures are headed back down, so prices are bouncing back up.

Nathan Klein of Loveland Commercial echoed some of these sentiments at a recent panel discussion at an event sponsored by CSU's Everitt Real Estate Center.

Klein estimated that within 12 to 18 months, more lots will have to be developed from what is raw land now in order to build speculative homes for those who need a home without delay.

"It's much easier to sell a house than it is to sell a lot," Klein said.

The increase in home sales in Loveland has resulted in more competition for lots, which also contributes to driving up prices. While the number of homes sold is nowhere near the numbers seen in 2004 – when 2,162 homes were sold in Loveland – the number did increase 5 percent in 2011. That increase represents the first uptick in sales since 2005.

Year-to-date as of April, the number of homes sold in the metropolitan statistical area of Loveland and Berthoud was up 12.7 percent compared with the same period a year earlier.
Loveland Commercial, LLC is currently targeting lot listings and evaluating projects for the lots that can be procured for sale.

Congratulations to Gazelle Transportation, Inc.

Congratulations to Ron Lallo of Lallo Investments, LLC on behalf of Gazelle Transportation, Inc. on the purchase of an industrial property off of US Highway 85 and 31st Street in Evans, CO. The property is located at 3102 State Street, 3108 State Street and 708 31st Street, all off of Highway 85 in Evans, CO. The property totaled approximately 2.577 acres, with commercial buildings of 5,955 and 5,128 square feet, was purchased for $615,000 ($4.98/SF) and closed on May 29, 2012.

Currently the Greeley/Evans area is experiencing an shortage of industrial property with yards suitable to meet the needs of the growing oil and gas industry in Weld County. Lallo Investments, LLC purchased a creative property assemblage to meet their needs. They will be using the former Randy's Diner for their office and storage and the former gas station/convenience storeland and  Truck Wash as a yard and storage for their vechicles.

Gazelle Transportation, Inc., a branch of Gazelle Investments, LLC, has grown to what has become one of the nation's premier crude oil logistics companies. With a presence in most US crude oil-producing regions and are recognized as providing safe, reliable and competitively-priced services to the oil and gas industry. With a growing fleet and well-maintained facilities, Gazelle strives to provide World Class service to its customers nationwide.

The oil and gas industry continues to grow in Weld County, as seen in many articles, for instance:
"Average wages are going up considerably in Weld County, due in large part to the increase in employment in the oil and gas industry and its supporting activities." Sharon Dunn / Greeley Tribune, June 23, 2012.

The property purchased was listed for sale by Nathan Klein, Partner and Broker for Loveland Commercial, LLC out of Loveland, CO.  Mr. Lallo, the buyer, was represented by Steve Kawulok, Managing Broker of Sperry Van Ness/The Group Commercial, LLC out of Fort Collins, CO.

Monday, June 25, 2012

Congratulations to Pinot's Palette

Congratulations to Tony Curtis and Kim Fain of Pinot's Palette in the new three year lease of a 2,744 square foot retail space in downtown Fort Collins.  Pinot's Palette has leased property located at 159 West Mountain Avenue, on the corner of West Mountain Avenue next to the Rio Grande Mexican Restaurant and South Mason Street, across from the Larimer County Motor Vehicle Dept. 

At Pinot's Palette, they intend to bring the "Paint & Sip" concept into the thriving downtown Fort Collins area, where customers can enjoy trying out their artistic abilities while enjoying a refreshing glass of wine or other refreshment of their choice. The “Paint and Sip” industry competes with other “Girls Night Out” establishments, including Wine, Sushi and Martini Bars, as well as Date Night options such as dinner and a movie.

Nathan Klein, Partner and Broker of Loveland Commercial, LLC, assisted Tony and Kim in locating the ideal space for their new venture.  The new location was not a property that was on the market at the time, but was located by some in-depth research by Nathan.

Wednesday, June 6, 2012

Panelists: NoCo commerical real estate improving

By Molly Armbrister
Northern Colorado Business Report

FORT COLLINS - A panel of commercial real estate professionals expressed slowly-returning confidence in the Northern Colorado market Wednesday.

Specific segments of the market are definitely beginning to pick up speed, including office space, according to Josh Guernsey, a partner at Brinkman Partners.

"The office market took a pretty solid hit," Guernsey said, but office real estate, particularly Class A space, is making a comeback. Class B and C are also improving, but not at the same rate, Guernsey said.

Guernsey was joined on the panel - hosted by the Everitt Real Estate Center - by Russell Baker, a vice president at Cassidy Turley Fuller Real Estate; Mike Hill, vice president of multi-family development operations, McWhinney, and Nathan Klein, partner and broker associate at Loveland Commercial. The panel was moderated by Steve Stansfield, president of Realtec Commercial.
Loveland office space has not seen the same improvements as Fort Collins, according to Klein, because Loveland has less Class A space to offer.

Retail is another segment that is seeing improvement, and Northern Colorado is on the radar for a number of national retailers, said Guernsey, whose company manages Front Range Village in Fort Collins. The shopping center is at 92 percent occupancy, Guernsey said.

The multi-family market continues to serve as a strong presence in the market, according to Hill, whose company was not involved at all in the mulit-family market four years ago and is now a major player.

McWhinney's customers tend to be more educated when they begin looking for a place to live, have done their research and are ready to negotiate, Hill said. Many of those McWhinney serves are also "rent by choice" customers who could afford to buy but choose to rent for a variety of reasons.

Conventional loans for commercial real estate are still hard to come by, according to Baker, who said that most of his customers are building with cash. Baker estimated that it could be another one or two years before local banks begin financing projects again, but that some national banks have begun making their way slowly back into the commercial realm.

Monday, June 4, 2012

Congratulations to Cozy Cottage

Congratulations to Tammy Ahlquist of Cozy Cottage in the relocation of Cozy Cottage from the Promenade Shops at Centerra at NEC Highway 34 & I-25 in Loveland, to 4250 Corbett Drive, #308-310 in the Front Range Village Shopping Center, just north of East Harmony Road and east of Ziegler Road, in Fort Collins. 

Cozy Cottage is a retail home decor shop whose inventory includes antiques, seasonal items, candles, jewelry, gourmet foods, bedding and upholstered furniture, just to mention a few.  Cozy Cottage is also planning the possibility of opening a cozy coffee bar within the store sometime in the future.  Be looking for their Grand Re-Opening sometime in Fall 2012.

Nathan Klein, Partner and Broker for Loveland Commercial, LLC, represented Tammy Ahlquist in finding the ideal relocation spot and securing the 7 year lease with the Landlord of the property.  The space had been on the market with Joshua Guernsey of Brinkman Partners, LLC in Fort Collins.