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.
Showing posts with label Northern Colorado. Show all posts
Showing posts with label Northern Colorado. Show all posts
Thursday, December 6, 2012
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
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.
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.
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.
Friday, July 8, 2011
Two more Colorado banks are shut down, 5 total for the year
We expect to see more residential land and other small commercial assets enter the market next year as Signature Bank was taken over by the FDIC. The new bank Points West Community Bank, will likely acquire a number of the troubled and non-performing assets at a lower value than was being carried on Signature Bank's books increasing the probably that values will be closer to market. As five banks have been taken over by the FDIC, we expect banks will continue to feel pressure to sell their commercial assets to get their non-performing asset ratios below 2% of total assets. For information on distressed real estate opporunities in Northern Colorado contact Loveland Commercial at 970-667-7000 or www.lovelandcommercial.com.
Banks Shut in Illinois and Colorado
By The Associated Press
WASHINGTON (AP) — Regulators shut a bank in Illinois and two in Colorado on Friday, raising to 51 the number of bank failures this year.
The Federal Deposit Insurance Corporation seized First Chicago Bank and Trust in Chicago, Colorado Capital Bank in Castle Rock, Colo., and Signature Bank in Windsor, Colo.
Northbrook Bank and Trust, based in Northbrook, Ill., agreed to assume the deposits and most of the assets of First Chicago, which had about $959.3 million in assets and $887.5 million in deposits.
First Citizens Bank and Trust, based in Raleigh, N.C., assumed all the deposits and essentially all the assets of Colorado Capital, which had $717.5 million in assets and $672.8 million in deposits.
Points West Community Bank, based in Julesburg, Colo., agreed to assume Signature Bank’s $64.5 million in deposits and essentially all of its $66.7 million in assets.
Four banks have failed in Colorado this year. First Chicago is the fifth lender to collapse this year in Illinois.
In 2010, regulators seized 157 banks.
Banks Shut in Illinois and Colorado
By The Associated Press
WASHINGTON (AP) — Regulators shut a bank in Illinois and two in Colorado on Friday, raising to 51 the number of bank failures this year.
The Federal Deposit Insurance Corporation seized First Chicago Bank and Trust in Chicago, Colorado Capital Bank in Castle Rock, Colo., and Signature Bank in Windsor, Colo.
Northbrook Bank and Trust, based in Northbrook, Ill., agreed to assume the deposits and most of the assets of First Chicago, which had about $959.3 million in assets and $887.5 million in deposits.
First Citizens Bank and Trust, based in Raleigh, N.C., assumed all the deposits and essentially all the assets of Colorado Capital, which had $717.5 million in assets and $672.8 million in deposits.
Points West Community Bank, based in Julesburg, Colo., agreed to assume Signature Bank’s $64.5 million in deposits and essentially all of its $66.7 million in assets.
Four banks have failed in Colorado this year. First Chicago is the fifth lender to collapse this year in Illinois.
In 2010, regulators seized 157 banks.
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