LOVELAND - After two years of brokerage and development work on behalf of the owners of the 542-acre 2534 commercial project, the principals of Chrisland Inc. have bought a prime, 60-acre piece of it.
Nick Christensen, Ryan Schaefer and other members of Chrisland Investments, an affiliate of Chrisland Inc., acquired The Plaza at 2534, a retail and office development within the master-planned development that covers the southeast quadrant of the Interstate 25-U.S. Highway 34 junction.
Terms of the deal were not disclosed. The purchase includes land intended to accommodate 500,000 square feet of planned retail space and another 100,000 square feet of office development.
The Plaza project is well under way, with a four-story office building owned by Everitt MacMillan Development Inc. under construction and nearby retail tenants getting ready for openings. Retailers include Ethan Allen furnishings, Eheart Flooring and Design, Home State Bank and Verizon Wireless.
The building developed by Everitt MacMillan will house Bank of Colorado, LBN Insurance Agency and Burns Marketing and Communications Inc. Chrisland is also planning an 85,000-square-foot, Class A office building on an adjacent site.
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