McWhinney Sells JBS Swift Office Building in Greeley for $28.8 Million

November 1, 2010 Posted In

LOVELAND, CO.— November 1, 2010 — McWhinney and JBS reached terms for JBS to acquire two buildings on 20 acres in Greeley’s Promontory Office Park. McWhinney developed the first building containing 102,000 square feet to lease to ConAgra in 2001. An additional 32,000 square feet was added to the campus in 2006.
McWhinney, a full service real estate development, investment and management company, based in Loveland, Colorado, sold the 134,000 square foot property at 1770 Promontory Circle in Greeley for $28.8 million to the current tenant, JBS Swift. “According to our research, this sales price represents the highest price paid for an office investment property in Northern Colorado over the last decade,” according to Todd Gilchrist, business development manager for Fidelity National Title Company.
“As our business here in the US grows and develops, this acquisition is a natural progression of events while our involvement in this local community gets stronger by the day. We have acquired a state-of-the-art piece of real estate which we plan to expand as our business continues to grow,” stated Wesley Batista, chief executive officer for JBS. “We appreciate all the community support we have had and count on this support as we go forward and generate jobs.”
“McWhinney has sold a couple of strategic assets to allow us to leverage our equity into new development throughout Colorado” said Ron Kuehl, McWhinney vice president. “We have recently opened a Denver office and continue to look for development and investment opportunities in the Denver Metro area as well as in Northern Colorado.”
The Seller was represented by Ron Kuehl, McWhinney vice president of real estate and the closing agent was Fidelity National Title Company.
For more information, please contact Ron Kuehl, at McWhinney, 970-613-4562 or visit www.McWhinney.com.
About McWhinney:
Headquartered in Loveland, Colorado, McWhinney is a team of talented people who are passionate about creating great places for people and providing fabled experiences to our customers. We develop innovative and sustainable master-planned communities and award-winning vertical commercial and mixed-use projects. Since 1991, McWhinney has planned and developed more than 6,000 acres in several master-planned communities and over 3.6 million square feet of vertical commercial and mixed-use properties throughout the Rocky Mountain region and on the West Coast. In 2008, McWhinney moved up from No. 13 to No. 11 on the list of the 50 Best Small and Medium Size Companies to Work for in America. In 2009, the company was named Colorado’s “Developer of the Year” by the National Association of Industrial and Office Properties (NAIOP) for McWhinney’s significant real estate and development contributions in the state. For additional information, visit www.McWhinney.com.
About JBS USA Holdings, Inc.
JBS USA Holdings, Inc. is a global leader in beef and pork processing with a daily harvesting capacity of 28,600 cattle, 48,500 hogs, 4,500 lambs and 7.2 million birds daily in the United States. The company’s operations in the United States include 8 beef processing facilities, 3 pork processing facilities, 1 lamb processing facility, 1 case-ready beef and pork facility, 25 poultry processing facilities, 9 prepared chicken plants, 1 hide tannery, 21 regional distribution centers, 2 grease-producing facilities, and 11 feedlots operated by Five Rivers Cattle Feeding, LLC, which supply approximately 30% of our fed cattle needs. JBS USA Holdings, Inc. is a wholly owned indirect subsidiary of JBS S.A.
About JBS S.A.
JBS S.A. is currently the world’s largest beef producer and exporter with a daily harvesting capacity of 90,390 head of cattle and the largest global exporter of processed beef. The company’s operations include 58 production units in Brazil and 6 plants located in 4 Argentine provinces, in addition to 50 plants in the US, 3 in Mexico, 10 in Australia, 8 in Italy, 1 in China and 1 in Russia. Additionally, JBS S.A. is the third-largest pork producer in the US, with a harvesting capacity of 48,500 head per day. In 2008, JBS S.A. generated net revenue of R$30.3 billion. Its brands “Friboi,” “Swift,” “Swift and Company,, “La Herencia,” “1855 Swift Premium,” “Maturatta,” “Cabaña Las Lilas,” “Organic Beef Friboi,” “Anglo,” “Mouran,” “Plata,” “King Island,” “Beef City,” “AMH,” “Inalca,” “Montana” and “Ibise” are widely recognized as symbols of quality. More information about JBS S.A. is available at www.jbs.com.br/.