Development along the Interstate 25/U.S. Highway 34 corridor continues to heat up with new Class A office space and a possible hotel.
Owners of The Office at 2534 have more than doubled their holdings with the recent purchase of 5.67 acres in 2534, a 542-acre mixed-use master planned community east of I-25/U.S. 34 on Johnstown's side of the interchange.
The buyers, 2534 Office Investors II LLC, who are affiliated with real estate services firm Chrisland, have had inquiries about hotel use, said Nick Christensen, a principal with Chrisland.
2534 Office Investors II bought the land for $1.35 million from Beacon View Holdings.
The property is just south of a proposed retail center on the southwest corner of Ronald Reagan and Thompson Parkway.
The Office at 2534 now has 10.5 acres "in the heart of Northern Colorado's regional employment base," Christensen said in a statement.
The preliminary site plan combines three office flex-tech buildings in a campus design including 86,000-square feet of Class A office space and an acre corner pad site for hotel, medical office building or other complementary use.
"We are really excited about the newly acquired piece of land as it will allow for greater flexibility. We will be able to accommodate a variety of office and office-flex users ranging in size from 2,500 to 100,000-plus square feet, Christensen said.
Chrisland is marketing the property for 2534 Office Investors and hopes to have much of the office space pre-leased before construction begins.
"We're talking to some large tenants," who, if signed, would allow construction to move forward, Christensen said. He hopes to have arrangements finalized within six months with ground breaking in the latter part of the year, "but it's subject to market demand," he said.
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