Commercial property management and investment firm Tepuy Properties has closed on its third purchase of the year with the acquisition of a 16,500-square-foot light manufacturing facility at 1650 Skyway Dr. in Longmont. The Boulder-based real estate syndicator purchased the single-story property for $2.3 million.
Located in unincorporated Weld County, the property is three miles directly west of I-25 and five miles to downtown Longmont.
“The location is really good, as it’s right near I-25 and a short drive to Longmont,” Tepuy Asset Manager Ricardo Bottome said. “The building is in a dynamic neighborhood, with small industrial kitchens nearby, breweries, and attractions such as St. Vrain State Park just down the street.”
Tepuy purchased the property with the assistance of 31 investors in the deal, five of whom were new.
Bottome hopes to attract tenants with light manufacturing needs to the vacant building, which comes with significant electrical and plumbing infrastructures. The building also boasts garage doors, loading docks, drains and sprinklers, in addition to plenty of office amenities, including a substantial showroom, conference room and break room. The previous owner used the facility as a logistics and distribution warehouse, according to Bottome. The other benefit of the property is its ability to be demised into two to four spaces for multiple tenants.
“We see potential in turning this back into a light manufacturing facility. We are excited about a wide range of tenants: food manufacturers, laboratory workers, or semi-industrial companies,” Bottome said.
Tepuy received financing from FirstBank. Jaime Pletcher with Gibbons-White, Inc. represented Tepuy Properties in the transaction, while Ashley Overton with The Colorado Group, Inc. represented the building’s seller.
