Saturday, January 7, 2006
There are two distinct stories to tell at one of Steamboat Springs' newest commercial/light industrial projects.
Real estate broker Ron Wen--dler of Colorado Group Realty said this week that all eight of the smaller units at Loggers Lane have closed. But there are no takers on the more prominent retail-friendly units fronting U.S. Highway 40.
Loggers Lane is nearing completion on Steamboat's West side, immediately east of the new Cook Chevrolet Subaru dealership. The developer is Charles Sher of Solana Beach, Calif. Sher also is developing multi-family residential projects here -- including Sundance Creek.
"The back units are all sold," Wendler said. "We closed on the last one on (Dec. 30). The price was under $200,000 and they sold to existing local businesses. We've got a lighting store, an electrician, a contractor's office and a management company."
The rear units comprise about 1,055 square feet and offer a garage door to the rear of the units. That allows the owners to park a company vehicle inside and create a workspace and an office toward the front of the building. There is also convenient access through the rear of the property to Shield Drive and the industrial businesses across the river on 13th Street/Twentymile Road.
Wendler said he's had some interest from a furniture store, a sign maker and a sports-related business for the six larger units that face the highway. They range from 2,500 to 2,700 square feet and have large glass windows out front, as well as at the rear parking area. They are priced beginning at $500,000 to $550,000.
"I think we have a good value for highway frontage," Wendler said. He said he thought the larger units would be ideal for a restaurant or a professional office such as a law firm. He even had interest from one prospective tenant who was contemplating housing a taco bar within the headquarters of a cleaning service.
General contractor Drahota Construction is about two weeks from completing the buildings on the highway (tenant finishes would come later), and the rear building is ready for its occupants, Wendler said.
Completion of Loggers Lane Commercial Center will kick in requirements that neighboring businesses provide sidewalks along the highway. Cook Chevrolet has its sidewalk in place.
Wendler also is representing mixed-use commercial/residential units in Fox Creek Park that are under construction. They are between downtown and the mountain on Hilltop Parkway.
He has listed a 6,000-square-foot office/warehouse on Elk River Road in the largely complete Copper Ridge business Park for $769,000.
-- To reach Tom Ross, call 871-4205
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