McWhinney’s Loveland HQ sells for $14.5M

LOVELAND — McWhinney Real Estate Services Inc. sold the building housing its Loveland headquarters for just over $14.5 million Thursday but has no plans to move.

The prolific Northern Colorado developer sold the eastern Loveland building to Eugene, Oregon-based Pinnacle Property Holding Co. for $14.575 million in a deal that closed Thursday, according to Larimer County property records. 

The property spans 2.83 acres and has a combined 54,230 square feet in office space. The building was last valued at $12 million by county officials. McWhinney owned the property through its subsidiary Terraview LLC, which is registered to a company employee.

The office building houses 10 tenants, including local real estate listing service IRES MLS and McWhinney’s offices. The company maintains a sister office in Denver. An advertisement for the building places rent at between $19.50 to $20.50 per square foot annually.

McWhinney spokesman Andy Boian said the building transaction was a leaseback, where a seller of an asset immediately leases back the property that traded hands. The company has no intention of leaving the Loveland area, he said.

It’s unclear if the sale would affect tenants other than McWhinney and IRES, whose CEO Lauren Hansen said is not leaving the building. Attempts to reach the owners of Pinnacle Property through its registered agent Neil Smith were unsuccessful.

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