3705 12th St.
Poudre Bay in partnership with Collective Capital, acquired 3705 12th St. in July, 2022. The property consists of an 8,072 square-foot Medical Office building on a 36,974 SF lot. The Location is in a nice office area in central Greeley, CO right off of Bittersweet Park. The tenant mix includes dentists and salon/spa users. Greeley, CO is consistently one of the fastest growing MSA’s in the nation.
Poudre Bay acquired the property on a cap rate of existing income. There was some vacancy which provides for the future upside. Poudre Bay has added value by performing building and site improvements, and is currently working to fill the vacancy. The asset is now being held for investment.