McWhinney Sells Rangeview Three for $14.2 Million

December 29, 2010 Posted In

By David Young

McWhinney has sold its Rangeview Three office building in Loveland’s Centerra development for $14.2 million.
BTT LLC of Greeley, registered to John Todd with Cottonwood Management Company, 2313 W. 17th S t. in Greeley, purchased the building on Dec. 23, according to state and Larimer County records.
The office is home to Agrium Advanced Technologies, CSU and UNC.
The four-story, 58,111 square foot building on 3.5 acres at 2915 Rocky Mountain Ave. is part of a complex of four office buildings near Interstate-25 and Crossroads Boulevard that back up to Equalizer Lake and Houts Reservoir.
The fourth building in the center was completed this summer adding 82,000-square-feet of office space. Rangeview Three obtained silver Leadership in Energy and Environmental Design, or LEED, certification in 2009 with an energy-efficient design.
Rangeview Three was valued at $10.7 million by the Larimer County Assessor’s Office. Actual value does not necessarily reflect market value.
McWhinney representatives did not immediately return phone calls and e-mails. The real estate company, which developed Centerra, a 3,000-acre master planned community at Interstate 25 and U.S. Highway 34 in Loveland, is closed until the new year.
Todd did not immediacy return phone calls.
The sale is not expected to impact the tenants in the building.
Shane Mares, marketing specialist with the University of Northern Colorado, said they were aware of the sale and expect it to be “education as usual” for the UNC Loveland Center at Centerra, which takes up the first floor and a portion of the second floor in the building.
The Greeley-based University has seven classrooms and several conference rooms available at its Rangeview center. More than 250 students attended courses at the UNC center in 2010.
In January 2009, when the Rangeview Three building was completed, UNC was the first tenant to locate there. Mares said, McWhinney will continue to manage the property and they have had limited contact with the new owners who have toured the facility.
“It may be the lesser known side of Centerra, but it’s a great location for us,” Mares said. “Among the Rangeview Buildings there’s a lot of companies and services, big part of economy of the area.”
The proximity to the I-25 corridor has served UNC well said Mares who said they get students from as far as Wyoming attending classes there.
The third and fourth floors are filled by Colorado State University and Agrium.
In January, McWhinney sold its 39,000-square-foot Rangeview Two office building for $10.75 million to MJB RV2 LLC, a limited liability company with investors in California.
McWhinney still owns Rangeview One and Four and has plans to build three more Rangeview buildings north of Crop Production Services on Rocky Mountain Avenue in Loveland.