Investors trade FRCC-occupied space in Longmont
LONGMONT — A pair of out-of-state real estate investment outfits recently traded a south Longmont commercial property that’s home to Front Range Community College classrooms for $17.6 million.
The flex-office space at 2121 Miller Drive was purchased by an entity called GIP Longmont LLC, registered to the Illinois address of privately held real estate investment management company Government Investment Partners.
The seller of the nearly 117,000-square-foot, 33-year-old building was an affiliate of Arizona-based real estate investment trust VEREIT Inc.
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The Miller Drive offices had been part of multi-property sales in 2005 and 2011.
According to its website, Government Investment Partners seeks out properties with stable income streams, often with tenants that are government agencies with long lease terms. FRCC would appear to fit the bill.
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LONGMONT — A pair of out-of-state real estate investment outfits recently traded a south Longmont commercial property that’s home to Front Range Community College classrooms for $17.6 million.
The flex-office space at 2121 Miller Drive was purchased by an entity called GIP Longmont LLC, registered to the Illinois address of privately held real estate investment management company Government Investment Partners.
The seller of the nearly 117,000-square-foot, 33-year-old building was an affiliate of Arizona-based real estate investment trust VEREIT Inc.
The Miller Drive offices had been part of multi-property sales in 2005 and 2011.
According to its website, Government Investment Partners seeks out properties with…
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