BrokerageHospitality

Former Niwot Restaurant Affected by Fire Sells to Local Investor

Boutique, Colorado-based firm NavPoint Real Estate Group, recently completed the sale of 210 Franklin Street, a fire-damaged restaurant building located on a large corner lot in downtown Niwot, CO.

Matt Call and Jason Mayer of NavPoint Real Estate Group represented the seller in the transaction, Table 210, LLC. The purchaser was a local investor with extensive development experience in Boulder County.

The building was the former home of Colterra, a local fine dining establishment that operated at the location from 2005 until fall 2017 when a fire severely damaged the main restaurant building. The property also includes a historic house fronting 2nd Avenue that was unharmed in the blaze.

“Colterra was a landmark in downtown Niwot so we are pleased to see the property sell to a buyer with a vested interest in the local community. We believe he will be a good steward of the property moving forward and are excited to see what the future holds,” said Matt Call, principal of NavPoint Real Estate Group.

Jason Mayer of NavPoint Real Estate Group also commented, “This property generated tremendous interest from investors and restaurant users since it was brought to market in mid-July. However, due to many complicating factors arising from the fire damaged building this deal required identifying the right buyer that could manage a transaction with numerous remaining uncertainties.”

Niwot is located on Diagonal Highway (CO 119), approximately eight miles from the Boulder business district and 6 miles from the Longmont business district. This transaction successfully closed in September 2019.

Photo courtesy of NavPoint

 

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