Loveland office building sells for $4M

LOVELAND — An east Loveland property sold for $4,053,000 or $338.37 per square-foot on March 13.

SRI Investments/ Stucco Rite Inc, a Colorado-based investment company, closed on the sale of a multi-tenant Class A 11,978 square-feet office building, located at 4090 Clydesdale Parkway. The buyers are Quarter Circle 4 Ranch LLC. Jared Goodman of Cushman & Wakefield plc was the broker representing SRI Investments/Stucco Rite. Goodman said the property sold at a 6.62 percent capitalization rate.

“The beautiful building has attracted quality tenants and is at the center of explosive growth in Northern Colorado. Northern Colorado’s employment and population growth is and has performed ahead of the nation. The interest in this building along Crossroads Boulevard just east of Interstate 25 is a prime example of that growth and demand in quality products in Northern Colorado,” Goodman said in a prepared statement.

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Tenants include Ewing-Leavitt Insurance, Bridgewater Homes and Keystone Financial. The building derives additional income from a Verizon cell tower.