600+ acres in Weld County sell for $13.5M
PLATTEVILLE — A 602-acre property in Platteville, along with associated water rights, recently sold to North Dakota-headquartered firm L.G. Everist Inc. for $13.5 million.
Everist manufactures and supplies stone, sand, and gravel products, and also provides water storage and rail services. The company has a Mountain Division office in Henderson and water-storage facilities in Longmont, Firestone, Greeley and Fort Lupton, according to Everist’s website.
“L.G. Everist Inc. has specific expertise in the reclamation and development of water storage reservoirs on mined lands. We have successfully built and managed 12 water storage cells totaling in excess of 15,400 acre-feet of water storage on site in Fort Lupton, Greeley, Longmont, and Firestone,” according to the company’s website. “Currently we are developing two facilities near Firestone that will total in excess of 8,300 acre-feet of water storage. We also own 6,000 acre-feet of potential water storage property.”
SPONSORED CONTENT
The company purchased the Platteville land, known as West Farm, from West Farm LLC, a company registered to a residential address in Denver, public records show. Transwestern Commercial Services vice presidents Craig Paton and Craig Bustos represented the seller. Transwestern did not reveal the name of the buyer, but BizWest identified the purchaser through public records.
Platteville town planning documents point to the West Farms property as a location ripe for residential development. A master plan has been in place to develop the property for about a decade.
“The award-winning master plan that has been approved allows for over 2,100 residential units. Senior water rights and abundant sand and gravel allow for profitable mining and water storage possibilities prior to development,” according to an online Transwestern brochure advertising the property.
“This is representative of the classic Northern Colorado real estate play,” Paton said in a prepared statement. “The site has historical agricultural utility that will continue, followed by extraction of minerals and enhancement of water rights and water storage. There will likely be a residential component in the future.”
While the West Farm sale is one of the largest in Weld County in recent years, Black Mountain Land Co. LP, an affiliate of Fort Worth-based Black Mountain Oil and Gas LLC bought 17,000 acres of agricultural land in eastern Weld County in August 2018 for $29 million. Cureton Midstream LLC, a Denver oil and gas transportation and processing infrastructure firm, is planning to build a natural compressor facility on 20 acres of that site.
PLATTEVILLE — A 602-acre property in Platteville, along with associated water rights, recently sold to North Dakota-headquartered firm L.G. Everist Inc. for $13.5 million.
Everist manufactures and supplies stone, sand, and gravel products, and also provides water storage and rail services. The company has a Mountain Division office in Henderson and water-storage facilities in Longmont, Firestone, Greeley and Fort Lupton, according to Everist’s website.
“L.G. Everist Inc. has specific expertise in the reclamation and development of water storage reservoirs on mined lands. We have successfully built and managed 12 water storage cells totaling in…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!