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710 11th Avenue - SALE

Sale or Lease: Sale

Square footage: 50,216 SF

Price: $5,400,000 ($108/SF)

Cushman and Wakefield, as exclusive advisor, is pleased to present this unique and rare opportunity to acquire a Legacy Asset, located in the heart of downtown Greeley. The prominently located, 50,216 SF office building is recognized by the National Register Historic Landmark and Buildings. The Greeley Building started as a High School at the turn of the century and has realized high occupancy for the entire life of the building. In the 1980’s the building underwent a major renovation converting the building from a school to office. Since the mid 80’s a local family has maintained this use and serviced a diversified tenant mix from executive suites to larger tenants comprising of local government, non-profits, and private business such as attorneys. The successful buyer of this asset will realize significant upside in well below market rents with proven occupancy. Owning a legacy asset in this special revitalization period offers a chance to be an integral contributor to downtown Greeley as the community continues to flourish. The tenancy has realized high occupancy with the constant demand and limited supply of executive suites in the Greeley market. The proximity to downtown amenities and events, union colony civic center, county services and the courthouse further strengthens this current and future demand.

Key Facts:

  • Rare value-add with large upside, currently 57% below market rents
  • Below replacement costs
  • Unique property with limited competitive product in northern Colorado
  • Positioning to the courthouse, and union colony civic center, attracting reliable tenancy
  • High historical occupancy rate and historical tenancy
  • Vibrant downtown development authority, opportunity to be inclusive of community
  • Well-maintained and updated systems
  • Recent capital improvements; boiler, parking lot, elevator, EPDM roof, and fire alarm

710 11th Avenue
Greeley, CO 80631

Cushman Wakefield
Jared Goodman