Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Phoenix & Southwest  + Southwest  + Office  | 

Record Pricing in a Pandemic Illustrates Fort Collins’ Heft

Anchored by a major research university combined with a diverse economy, Fort Collins has a proven history of steady job and population growth. And, the sale of two single-story R&D buildings in this city bears that out. The two buildings, 1625 Sharp Point Dr. and 2424 Midpoint Dr. totaling 115,627 square feet, are 100 percent occupied by long-term tenant Advanced Energy Industries Inc., and sold for $30.65 million.

Cress Capital acquired the buildings in May 2017 as part of a 23-building portfolio in the Prospect East Business Park. This transaction is the second sale by Cress of buildings within the portfolio. In October 2019, Cress sold 1600 Prospect Park Way, a 26,224-square-foot building, for $6.3 million. Cress continues to own and manage 20 buildings totaling 365,000 square feet in the Fort Collins business park.

“This successful sale and record pricing for this building type in Fort Collins in the midst of a global pandemic illustrates the continued strength of the Fort Collins commercial real estate market,” says Cress managing partner Ryan Parkin.

Cress was represented in the sale by Jeremy Ballenger, Jim Bolt, Tyler Carner and Will Pike of CBRE with local market advisory provided by Pete Kelly of CBRE.


Inside The Story

Learn More

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition