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5/31/23
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An entity affiliated with Fort Collins-based Dellenbach Chevrolet Inc purchased a 65.5k sf retail property in Fort Collins, CO for $9.25 mil ($141/sf) in an off-market transaction. The property is located at 200 W. Foothills Pkwy, just west of College Ave.
The multi-tenant building was built in 1974. Tenants include Shamrock Foodservice Warehouse and Dellenbach Chevrolet, which operates an auto body shop on site, among others.
Peter Kast and Steve Stoecker with CBRE’s Fort Collins office represented the buyer, who plans to continue its operations at the site and announced no plans for changes to the property. Jason Ortiz, formerly with Cornerstone Real Estate Investment Advisors and now with CBRE, repped the seller.
"The seller initially acquired the building in 2008 based on it having a long-term lease, but, more importantly, due to the strong fundamental underlying real estate,” noted Ortiz. “When they purchased it, Midtown Fort Collins was in a revitalization phase and showed signs of great progress. Their disposition signals the value in strong locations, and good real estate fundamentals in any market condition."
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