Cushman & Wakefield announced the firm has advised the sale of a freestanding 48,044-square-foot flex commercial building located at 7251 W 4th St in Greeley. The property was vacant at the time of sale and was acquired by City Lights Church, a non-denominational Christian church, for $5.5 million. The seller was Ashton Greeley Property, LLC.
Cushman & Wakefield’s Jason Ells, CCIM, vice president represented the seller in the transaction. Erick Backlund with Kairos Real Estate represented the buyer.
Originally built in 1985 but renovated since, the property is situated on more than ±4.6 acres and is conveniently located near the intersection of 10th Street and 71st Avenue, as well as several retail and lifestyle amenities. The building will accommodate significant growth for City Lights Church, which is currently operating from shared space at another nearby property that is situated close to 20th Street and 447th Avenue.
“The sale demonstrated a creative partnership between the buyer and seller involving seller-financing which helped overcome the challenges of today’s lending environment,” said Jason Ells.
Greeley is located approximately 50 miles northeast of Denver and 20 miles east of the foothills of the Rocky Mountains. Greeley has a population of nearly 110,000 making it the second largest city in Northern Colorado and the largest city in Weld County. In recent years, the city has been named among America’s Top “Boomtowns.”
