Greeley HP property sale valued at least at $900K

GREELEY — The former Greeley Hewlett-Packard Co. facility along 71st Avenue sold in a land swap deal valued at least at $900,000.

Weld County recorded documents show that LaSalle Investors LLC bought the blighted former manufacturing facility and just under 20 acres of land from City Center West LP for $10. At the same time, City Center West bought a 21.36-acre, undeveloped parcel in the Promontory Business Park from LaSalle Investors for $10. 

LaSalle bought the Promontory lot, identified as 4B, from State Farm Mutual Automobile Insurance Co. on July 26, 2021, for $900,000.

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The value of the HP property was not certain. City Center purchased it as part of a larger parcel in 2007 and had split off lots for redevelopment. The Weld County assessor listed its value at $1.75 million.

At the same time as the recording of the HP and Promontory deeds, LaSalle recorded a deed of trust on the HP property to guarantee a promissory note with Phelps-Tointon Inc. for $1.25 million.

LaSalle plans to demolish the former HP building and sell the property to the neighboring Westridge Charter Academy for use as athletic fields and parking.

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