Poudre Bay acquired 2985 1st Ave. in January 2020. The property is a 46,600 square-foot industrial building on 4.68 acres that includes a 1.5-acre fenced yard. Property use is for manufacturing, distribution, fabrication, logistics, warehousing, and industrial businesses.
The building features seven bridge cranes, seven overhead drive-in doors, a clear height of 38′, ceiling heights of 40′, and steel frame construction with a metal roof. The building is also fully sprinklered and features heavy power options of 3-phase/480 volts/2000-amp service.
The location is ideal for industrial in northern Colorado as it is located at the intersection of US Highway 34 which runs east/west and US Highway 85 which runs north/south. Industrial is the highest demand and highest growth commercial property type in Northern Colorado at the time of project execution, driven by strong population and economic growth in Northern Colorado.
Poudre Bay improved the leases on this property which added value, and is holding as investment.