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July 25, 2024
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Schuman Companies Spends $12.3 Mil on South Parcel at Loveland Yards in Colorado


Schuman Companies acquired the 146.1k sf south parcel at Loveland Yards in Loveland, CO for $12.3 mil. The purchase completes Schuman Companies’ acquisition of the former Loveland Outlets site, after buying the north parcel in November 2022.

Photo: Boxwood Photos
Photo: Boxwood Photos
The final, south parcel acquisition follows months of strong tenant activity at the north parcel. Over 10 tenants have purchased or leased suites, totaling 138.7k sf, or 71% of available space. Notable tenants joining the project include Avery’s Tea House, Slate Studios, Gold’s Gym, School of Rock, CycleBar, Citipointe Church, FyrePro, Ewing Leavitt Insurance and Trek Bicycles, which will likely be the first new tenant to open its doors this July.

Schuman Companies is repositioning the property into retail, office and flex condos, which are available in a unique structure—both for sale and for lease. The for-sale option provides tenants with the option to build real estate equity in a central, accessible and highly visible location. Schuman Companies is investing in a range of improvements at the site, including replacing building roofs, repainting the property’s façade, installing new landscaping and a parking lot overlay, and rebranding with new signage and a new website.

Located at 5600-5721 McWhinney Blvd, Loveland Yards sits at the intersection of I-25 and Hwy 34 with more I-25 frontage than most other commercial sites in northern Colorado. A half-million people live within 15 miles of the site, including the communities of Loveland, Greeley, Fort Collins, Johnstown, Berthoud and Windsor. The area is already a popular commercial district with four other retail centers within two square miles: The Promenade Shops, Centerra, Johnstown Plaza and Centerra Marketplace.

Melissa Moran and Jon Rue with CBRE’s Fort Collins office arranged the sale and are marketing Loveland Yards for sale and lease.

Condo suite availability at Loveland Yards ranges from 1k sf to 120.7k sf or more, with the option to combine or demise existing suites. Condos are priced between $185 and $250 per sq. ft. with lease rates ranging from $16-24 per sq. ft. Ceiling heights vary with a minimum clear height of 15 ft. The property’s zoning allows for retail, office, light industrial/flex and entertainment use.

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