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11/28/22
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Schuman Companies acquired the 169k sf Loveland Outlets’ north parcel in Loveland, CO in a $15 mil deal. The buyer, who plans to close on the south parcel at a later date, is repositioning the property into retail, office and flex condos, which are available for sale or lease under the new name Loveland Yards.
Located at 5661 McWhinney Blvd, the property sits at the intersection of Interstate 25 and Highway 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 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.
Condo suite availability at Loveland Yards ranges from 1k sf to 169k sf with the option to combine or demise existing suites. Condos are priced between $165 and $300 per sq. ft. with triple-net expenses covered under an HOA. Ceiling heights vary with a minimum clear height of 18 ft. The property’s zoning allows for retail, office and light industrial use.
Melissa Moran and Jon Rue with CBRE’s Fort Collins office arranged the sale and are marketing Loveland Yards for sale and lease.
Windsor, Colorado-based Schuman Companies is a full-service real estate investment company specializing in property acquisition, development and management. They implemented a similar model of offering both for-sale and for-lease options at another project in Loveland—Crossroads Commons, at the intersection of Crossroads Boulevard and Centerra Parkway. The mixed-use office and retail project, also marketed by CBRE, is still under construction but is already half pre-sold or leased with all the remaining space either under contract or under a letter of intent.
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