706-718 12th St. and 1209 7th Ave.
Poudre Bay acquired the 706-718 12th St. and 1209 7th Ave assemblage in November, 2022. The property assemblage consists of three flex retail/industrial buildings that total 13,700 SF, and a single-family home on 39,437 SF of land . The Location is in a mixed-use retail and multifamily area of downtown Greeley, CO a half a block off of 8th Avenue which is a high traffic and quickly redeveloping area of downtown Greeley. This area of downtown is experiencing rapid redevelopment, with multiple large mixed-use and retail/restaurant projects already developed, and multiple more in the pipeline. The retail exposure in downtown Greeley makes it a unique property that is difficult to replicate. Greeley, CO is also consistently one of the fastest growing MSA’s in the nation.
Poudre Bay acquired the property with short term leases in place. Poudre Bay will add value improving the leases once the short-term leases expire. Poudre Bay will also evaluate redevelopment opportunities for this property as the redevelopment of downtown Greeley continues. The asset is now being held for investment.