An entity affiliated with Fort Collins-based Dellenbach Chevrolet Inc. has purchased a 65,450-square-foot retail property located at 200 W. Foothills Parkway in Fort Collins for $9.25 million, in an off-market transaction.
Peter Kast and Steve Stoecker with CBRE’s Fort Collins office represented the buyer. Jason Ortiz, formerly with Cornerstone Real Estate Investment Advisors and now with CBRE, represented the seller.
“This sale proves that despite economic uncertainty there is still appetite for strong properties in great locations in Fort Collins and greater Northern Colorado,” said Mr. Kast, senior vice president, CBRE.
Retail property sales volume in Northern Colorado totaled $288.6 million in 2022, according to CBRE research, an increase of 40.5 percent year-over-year.
The multi-tenant building was built in 1974. Tenants at 200 W. Foothills Parkway include Shamrock Foodservice Warehouse and Dellenbach Chevrolet, which operates an auto body shop on site, among others.
Mr. Ortiz, vice president at CBRE, added, “The seller initially acquired the building in 2008 based on it having a long-term lease, but, more importantly, due to the strong fundamental underlying real estate. When they purchased it, Midtown Fort Collins was in a revitalization phase and showed signs of great progress. Their disposition signals the value in strong locations, and good real estate fundamentals in any market condition.”
The buyer plans to continue its operations at the site and announced no plans for changes to the property.
