Interest in Colorado real estate isn't limited to Denver, with investors looking hard at other markets, especially for opportunities to reposition. A recent trade of a tech-suitable property in Fort Collins illustrates the trend.
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A private local investor acquired the 158k SF 2001 Danfield Court in Fort Collins, the former LSI Logic building (now Avago). The property presented a range of opportunities for a strategic buyer, notes CBRE SVP Peter Kast, who's in the company's Fort Collins office. "The sale is indicative of the growing interest we're seeing in Fort Collins in repurposing older buildings for new uses.”
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Built in 1979, 2001 Danfield Court is on 12.5 acres and is the site of a former chip manufacturing facility for LSI Logic. The building is equipped for heavy power and includes 10 Gbps fiber, a freight elevator, overhead doors and a backup generator system. The new owners plan to convert it to a multi-tenant office building. Peter, along with Ham Southworth of CBRE Palo Alto, repped the seller, LSI Corp, in the deal.
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