(970) 440-3250

Cottonwood Commons

Greeley, Colorado

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Confidentiality Agreement & Disclosure

The information contained about the property and listing is proprietary and strictly confidential, and is intended to provide general information that prospective purchasers may use to determine whether to pursue negotiations to acquire the subject property. This information should not be made available to any other persons without the express written consent of LC Real Estate Group, LLC. The information included herein has been obtained from sources believed reliable but is not guaranteed. It is your responsibility to independently confirm its accuracy and completeness. LC Real Estate Group, LLC makes no representation or warranty, ex­pressed or implied, in regard to all material information regarding the subject property, and it is not a substitute for a thorough in­vestigation of the actual property, the tenants, the operating history, financial reports, leases, square footage, age, the presence of any environmental conditions or hazards, the property's compliance or lack thereof with respect to any local, city, county, state or Federal regulation, or any other aspect of the property.

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Offering Highlights

10,500 SF | Built 1979 | Recent Renovations

$1,250,000 | $119/SF | 7.30% Current | 8.25% Proforma Cap Year 4 | 15% Leveraged IRR 

 

LC Real Estate Group is pleased to present the opportunity to purchase a +/- 10,500 NLSF multi-tenant office building known as Cottonwood Commons. The property is located 2.4 miles from Downtown Greeley, southwest of 16th Street and 23rd Avenue, and is approximately equal distance from US Highway 34 and US Highway 34 Business Route/10th Street.

  • Cottonwood Commons is a convenient and centrally located office building minutes from Northern Colorado Medical Center and the University of Northern Colorado, among other nearby major employers
  • Majority of suites and common areas have been fully modernized, coming to market with recently refreshed carpet, paint, ceiling tiles, coffee bars, and lighting
  • Main building suites offer functional layouts with high quality tenants, with conversion of third floor suite to offer diversified options and sizes for future leases
  • Recent conversion of Suite 302 into executive suites creates opportunity to lease space at a higher price per square foot and is a built-in source of future tenants for larger suites
  • Attractive private balconies and shared outdoor common areas create an approachable and productive aesthetic surrounding the building
  • Parking spaces surrounding the building add to overall convenience
  • Building benefits from healthy mix of co-tenants as well as positive externalities from nearby Cottonwood Square office buildings and shopping center
  • Lease rollover upside with average in-place rent of $16.18/SF, below market average asking rents of $20.70/SF
  • Priced well below replacement cost
    • $119/SF | 1979 Year of Construction, approximately $125,000 in recent updates/improvements by Seller including roof (2018), multiple HVAC units, common area refresh, camera system, key fob access and exterior paint and lighting.
  • Excellent returns over a ten (10) year holding period
      • 8.8% 10 Year Average Cash on Cash Return
      • 15.3% Average Total Return
      • 15.1% Leveraged Internal Rate of Return
      • 2.56X Equity Multiple
Nathan Klein

Nathan Klein

Senior Partner
Managing Broker

(970) 222-2473
Rico Devlin

Rico Devlin

Partner
Broker Associate

(970) 413-1182
Wayne Lewis

Wayne Lewis

Senior Partner
Senior Broker

(970) 440-3250