158,000 Square Foot Property to be Converted to Office Building
FORT COLLINS (June 20, 2016) – CBRE Group, Inc., announced today the $5.65 million sale of the former LSI Logic (now Avago) building located at 2001 Danfield Court in Fort Collins, Colorado. Peter Kast of CBRE Fort Collins and Ham Southworth of CBRE Palo Alto represented the seller, LSI Corporation of Milpitas, California. 2001 Danfield, LLC, of Fort Collins, Colorado, purchased the 158,000 square foot property with plans to convert it to a multi-tenant office building.
“From its superior location to its high-tech facilities and abundant parking, 2001 Danfield Court presented a range of opportunities for a strategic buyer,” said Peter Kast, senior vice president with CBRE in Fort Collins. “This sale is indicative of the growing interest we are seeing in Fort Collins in repurposing older buildings for new and innovative uses.”
Built in 1979, 2001 Danfield Court encompasses a total of 158,000 square feet over two lots totaling 12.5 acres. The site of a former chip manufacturing facility for LSI Logic, the building is equipped for heavy power and includes 10 Gbps fiber, a freight elevator, overhead doors and a back-up generator system. The property also features a cafeteria and fitness center.
2001 Danfield Court is located in the Timberline Corridor of Southeast Fort Collins, just north of the newly improved Horsetooth/Timberline intersection with easy access to Harmony Road and I-25. Bike trails, retail and other services are all within a short ride or drive. Upon completion of the conversion to an office property, the building’s new address will be 3405 South Timberline Road.
Construction on the property is slated to begin this summer. The new owner awarded CBRE Fort Collins the leasing assignment for the property. For leasing inquiries, contact Peter Kast or Pete Kelly at +1 970 372 3007 or peter.kast@cbre.com or pete.kelly@cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
