United Properties closes on site for 3-building industrial project

JOHNSTOWN — United Properties Development LLC has closed on the purchase of 16.76 acres of land in the 2534 commercial development in Johnstown and will build a three-building flexible industrial space totaling 280,323 square feet.

The Gerrard Family Limited Partnership LLLP sold the property. Transaction brokers were Jake Hallauer and Ryan Schaefer of NAI Affinity. Purchase price was $3.65 million.

United Properties previously disclosed its plans for the property during BizWest’s Northern Colorado Real Estate Summit.  It plans a three-building, Class A industrial development that will be known as Trade@2534. Two of the buildings will be front-park/rear-load designs, and the third building will be a cross-dock facility with loading bays on both sides. Groundbreaking will occur this spring.

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“We are grateful for our relationship with United Properties and the continued partnership at 2534. With this new project, 2534 will have seen over 600,000 square feet of Class A Industrial development since 2016, making it one of the hottest industrial locations in the region,” Gary Gerrard, master developer of 2534, said in a written statement.

Megan Turner, vice president of development for United Properties, said the company is looking forward to working with the Gerrard family again. ”We have had a great partnership with the Gerrard Family over the years, so we were thrilled to have the opportunity to work with them on another land transaction. United Properties sees great growth potential for industrial product in Northern Colorado, and we’re excited to expand our industrial portfolio in Johnstown this year,” she said.