Combined residential, industrial property sells for $2.9M
BERTHOUD — A real estate investment group managed by Waypoint Asset Management LLC has purchased a combination residential and industrial property at 533 E. County Road 8 in Berthoud.
Property owners Mark Sommers Trust Agreement and Jeannine Sommers Trust Agreement, who bought the property in 2008, sold it June 10 for $2.9 million.
The property includes a single-family home listed at 1,636 square feet by Larimer County, a 1,560-square-foot outbuilding and a 20,000-square-foot industrial building, along with more than six acres of residential land.
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A local investment group organized under a new organization, 533 E County Road 8 LLC, is managed by Waypoint Real Estate. The property was 81.4% occupied at the time of sale by five tenants: Talion Defense Corp., Circle Goods Reclaimed, Scott Resources 2, Adventure Vehicle Concepts and JFB Woodturning.
Waypoint will market for lease 4,000 square feet of unoccupied space, and the new ownership group intends to develop the residential portion of the property. Waypoint will provide property management and on-site maintenance services.
Brian Smerud and Joshua Guernsey of Waypoint Real Estate represented the ownership group in the purchase, and Rhett Strom with The Group Inc. represented the seller.
