$10M sale paves way for freight-transfer facility in Loveland

LOVELAND — A $10 million sale of approximately 26.5 acres of undeveloped land near Northern Colorado Regional Airport will be the site of a freight-transfer facility for Old Dominion Freight Line Inc., one of the largest North American “less-than-truckload” motor carriers.

Cushman & Wakefield announced the sale of the industrial-zoned site, located at Airpark North Second Subdivision, Lots 1 through 6, Block 2. Although the announcement did not include the purchase price, public records put it at $10 million.

Cushman & Wakefield’s Travis Ackerman, Tyler Murray and Ty Mashek represented the seller, Interstate Land Holdings LLC, in the transaction. Its registered agent is Curt Burgener, owner of BH Developers Inc., the master developers of Airpark North. Burgener also serves on the airport’s governing commission. In August, his company sold a new 36,000-square-foot Class A industrial building nearby at 6987 Rickenbacker Road for $8.53 million to Golden-based CFC Investments LLC, which does business as Colorado Floor Co. Inc.

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In the latest sale, completed Dec. 12, Old Dominion was represented by Jon Dandurand with Burr & Temkin South Inc.

“The property provides a central Northern Colorado location in a rapidly developing area and offers [Old Dominion Freight Lines] adjacency to the airport and convenient access to transportation services, as well as several major global and regional companies are also within close proximity,” Ackerman, executive managing director at Cushman & Wakefield, said in a prepared statement. The site was originally being marketed with available land sizes ranging from around 3 to around 27 acres, he said, “in which the buyer acquired the entire site.”

“We transport freight that doesn’t require a full trailer,” said Patrick Budd, Old Dominion’s manager of communications. “We have 257 locations, and we’ve invested a lot in our service-center locations over the years.”

As presented at a neighborhood meeting in October, the plans submitted by Commerce City-based Old Dominion (Nasdaq: ODFL) was for a 48,428-square-foot, 104-door facility at the northwest corner of Rockwell Avenue and Rickenbacker Road. However, city planner Troy Bliss told BizWest that the current plan calls for around 47,000 square feet “and more like 100 doors at this point.

“That was more of an internal decision by Old Dominion,” Bliss said, “and it wasn’t something driven by initial review from the city.”

Old Dominion’s plan is for associated maneuvering areas, parking and yard space around the facility, but with no outdoor storage. The site would be fenced and secured 24 hours a day. About 13 acres of the property would be developed.

Budd would not comment on whether any of those plans had changed.