Real Estate & Construction  May 2, 2019

FedEx facility in Johnstown sold to investor for $13.4M

JOHNSTOWN — The FedEx ground distribution center at 3870 Ronald Reagan Boulevard was recently sold for $13.4 million.

The seller was ARCP FE Johnstown CO LLC, according to Larimer County public records. That entity is registered to the address of Phoenix-based real estate investment and property management firm VEREIT Inc. (NYSE:VER).

The nearly 100,000-square-foot FedEx building was recently bought by ILPT Properties LLC, an affiliate of The RMR Group Inc. (Nasdaq: RMR), a real estate investment and asset management firm headquartered in Newton, Mass. Jeff Nuttall/BizWest.

According to VEREIT’s online property portfolio, the company owns several other local commercial and retail spaces including IHOP restaurants in Greeley and Loveland and a General Electric office in Longmont.

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The buyer of the nearly 100,000-square-foot FedEx building was ILPT Properties LLC, an affiliate of The RMR Group Inc. (Nasdaq: RMR), a real estate investment and asset management firm headquartered in Newton, Mass.

Public records show the property was last sold by Jones FTC LLC in October 2014 for nearly $14.8 million.

JOHNSTOWN — The FedEx ground distribution center at 3870 Ronald Reagan Boulevard was recently sold for $13.4 million.

The seller was ARCP FE Johnstown CO LLC, according to Larimer County public records. That entity is registered to the address of Phoenix-based real estate investment and property management firm VEREIT Inc. (NYSE:VER).

The nearly 100,000-square-foot FedEx building was recently bought by ILPT Properties LLC, an affiliate of The RMR Group Inc. (Nasdaq: RMR), a real estate investment and asset management firm headquartered in Newton,…

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A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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