Agilent sells Loveland office building

LOVELAND-Agilent Technologies Inc. has found a buyer for an unused office building in Loveland.

The Thompson School District agreed in April to pay $4.7 million for the 88,000-square-foot building at 800 S. Taft Ave. The school district plans to move its administrative headquarters into the property, which had been vacant since late last year.

The deal seems to be a bargain for the school district. Agilent, through real estate broker Cushman & Wakefield, has originally listed the property at $8 million, before dropping to $6.5 million, and then to the final price.

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Agilent acquired the building as part of the corporate split with Hewlett-Packard. It was originally built in 1984 by Colorado Memory Systems, which HP purchased in the late ’80s.

“Cushman & Wakefield was marketing that for close to two years,´ said Ken McCrady, a broker for Prudential Warnock Commercial Realty of Loveland, who represented the school district along with partner Jack Thetheway. “With our economy in Northern Colorado, without many major businesses moving in, trying to find a user for that property at the original asking price was very difficult.”