Combined residential and industrial property sells for $ 2.9 million – Longmont Times-Call

A real estate investment group managed by Waypoint Asset Management LLC has purchased a residential and industrial real estate complex at 533 E. County Road 8 in Berthoud.

Landowners Mark Sommers Trust Agreement and Jeannine Sommers Trust Agreement, who bought the property in 2008, sold it on June 10 for $ 2.9 million.

The property consists of a single family home listed at 1,636 square feet by Larimer County, a 1,560 square foot outbuilding and a 20,000 square foot industrial building, as well as over six acres of residential land.

A local investment group organized under a new organization, 533 E County Road 8 LLC, is managed by Waypoint Real Estate. The building was 81.4% occupied at the time of the sale by five tenants: Talion Defense Corp., Circle Goods Reclaimed, Scott Resources 2, Adventure Vehicle Concepts and JFB Woodturning.

Waypoint will market for lease 4,000 square feet of unoccupied space, and the new property group intends to develop the residential portion of the property. Waypoint will provide property management and on-site maintenance services.

Brian Smerud and Joshua Guernsey of Waypoint Real Estate represented the group of owners on the purchase, and Rhett Strom of The Group Inc. represented the seller.

© 2021 BizWest Media LLC

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