Poudre Bay acquired 12579 Energy Road in July 2020. The property is a 44,034 square-foot industrial building on 3.2 acres. The location is ideal for industrial in Northern Colorado as it is located along Interstate 76 northeast of Denver. 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 acquired the property at a 9% capitalization rate of return on existing Net Operating Income, with 68% of the property already leased to a high credit corporate tenant. Poudre Bay added value by leasing the remaining 14,034 SF. The asset is now being held for investment.