Loveland Commercial to buy 29th Street Plaza

LOVELAND – Loveland Commercial is under contract to purchase the 29th Street Plaza from Brinkman Partners for an undisclosed sum.

Loveland Commercial partner Nathan Klein said the property is just one of multiple properties the company is pursuing as part of a 1031 tax-deferred exchange in the wake of selling the Thompson Valley Town Center in Southwest Loveland for $20.6 million in August.

If everything goes well, Klein said, the deal is expected to close by the end of the year

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Larimer County property records show Brinkman purchased the 29th Street Plaza in early 2013 for $3.1 million.

The property sits at the southeast corner of 29th Street and U.S. Highway 287.

Klein said the plan is to keep leasing the 18-year-old shopping center, which he said is about 90 percent leased. The roughly 36,000-square-foot center, which includes two buildings, has about 18 tenants, including Subway, Taco John’s, Fantastic Sam’s and Curves.