Blue Ocean purchases former Abound Solar building

FORT COLLINS – Blue Ocean has purchased a 21,164-square-foot light industrial building formerly occupied by the defunct solar panel manufacturer Abound Solar.

The property, located at 4557 Denrose Court, was one of the sites where hazardous waste, specifically cadmium, was found following Abound’s bankruptcy last year. The building is located near the intersection of Mulberry Road and Interstate 25.

The federal government contracted with a national company to clean up the waste, according to Steve Schroyer, director of real estate at Blue Ocean, which often does real estate investment work for OtterBox.

The property has since been declared clean and safe, Schroyer said.

Blue Ocean purchased the property as an investment, Schroyer said, and plans to lease it to a tenant “as soon as someone steps up to the plate.”

Discussions are underway with “a couple” of potential tenants, Schroyer said, but no lease has been signed at this point. The property served as a research and development facility for Abound.

The building was purchased for $1.9 million on Aug. 5, according to Jim Mokler of Realtec Commercial Real Estate Services Inc., one of the brokers who handled the sale. Jeffrey Doran, also of Realtec, also brokered the transaction.

Blue Ocean has also submitted documents to the city of Fort Collins for a six-story headquarters at 111 S. Meldrum St. in downtown Fort Collins.

The plans also include a 450-space parking structure. A neighborhood meeting to discuss this project will be held at 6 p.m. this evening in the Community Room at 215 Mason St.


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Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR
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