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Investor Spends $13.5 Mil on 600 Acres of Land in Colorado

3/29/19

A 602-acre site in Platteville, CO was purchased for $13.5 mil by an undisclosed buyer in what we’re told is the largest land transaction in Weld County within the last three years. The site is located one mile west of Hwy 85.

Craig Paton and Craig Bustos with Transwestern Commercial Services provided disposition services for the seller.

“This is representative of the classic Northern Colorado real estate play,” said Paton. “The site has historical agricultural utility that will continue, followed by extraction of minerals and enhancement of water rights and water storage. There will likely be a residential component in the future.”

Weld County has continued to grow over the last few years and is one of the strongest in the state, and oil and gas and agriculture are the main economic drivers. The county consistently ranks in the top 10 nationally for agriculture with the market value exceeding $1.5 bil, per info provided by Transwestern. In addition to the booming agriculture business, Weld County has been able to maintain low real estate property tax compared to surrounding areas because of the county’s extensive oil and gas activity. This gives a competitive advantage for businesses.

“One unique aspect of this site is that the South Platte River runs directly through it,” said Bustos. “That presented an opportunity for the buyer to secure extensive senior water rights to maximize their real estate investment.”





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