We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
Sponsor Generated Content
Feeders Supply LLC – a joint entity formed by developers Jon Prouty and Alex Schuman, as well as Dohn Construction – bought the building from Northern Colorado Feeders Supply Inc. Steve Kawulok of Sperry Van Ness/The Group Commercial represented the seller along with Rich Shannon of Timberline Partners. Kawulok also represented the buyer.
The new owners have plans to renovate the Feeders Supply building for a restaurant or brewpub use, though Dohn Construction co-owner Doug Dohn said Monday that no tenant has been lined up yet.
Also planned for the one-acre site is a new 54-unit apartment building behind the Feeders Supply building. Another vacant portion of the site will be used for a future addition to the Feeders Supply building that could accommodate a variety of commercial uses.
Estimated project cost is between $10 million and $12 million.
Northern Colorado Feeders Supply continues to occupy the 6,500-square-foot building and has until the end of the month to move to a yet-to-be-announced location. Officials for the company couldn’t be reached Monday.
Dohn said the plan is for construction to begin on the apartments and accompanying underground parking by early May, with that portion of the project taking 12 to 14 months to complete. Renovation of the Feeders Supply building and the new commercial addition will be a second phase of the overall redevelopment, and will begin once a tenant is secured.
Once the commercial addition is built, Prouty said there will be about 20,000 square feet of commercial space in all. The new restaurant would likely take up the Feeders Supply building and at least part of the first floor of the new addition. Prouty said that is so that things like the industrial kitchen of the restaurant could be located in the addition while the historic Feeders Supply interior could be preserved for the dining portion of the restaurant.