Wick & Trautwein, LLC
Call Today
Local: 970-237-5694
Toll Free: 866-686-1410

Large commercial real estate sale could lead to development

A Colorado company is reportedly selling a large parcel of land with buildings to a real estate company based in another state. The real estate company operates by buying and then developing large parcels of commercial property, and it intends to create a retail development on the property being purchased, according to reports.

Reports indicated that Current USA, Inc., is selling a commercial campus that measures 77-acres and includes manufacturing space, a call center and a retail outlet. The timeline for the property transition has not been reported, but it has been stated that the real estate company intends to make the site a mixed-use project.

While details about use of the site and buildings, which cover 660,000 square feet on the property, are limited, it does appear there are plans to establish some retail development at the location. Signs advertising for retail tenants have been noted, and reports indicate that the real estate firm has been negotiating with possible tenants.

Other possible uses for property might include industrial, residential or office environments. One spokesperson said that some or all of the existing structures on the property could be torn down to make way for new development.

When converting a purchased piece of property to new development, many legal and financial issues can arise. Zoning and coding becomes important as the new owner attempts to conduct different types of business on the property. Land use and other laws also come into play, and something as seemingly simple as adding to a parking lot or tearing down a building can come with complex permit requirements.

Understanding legal requirements before buying real estate helps investors and others see a return on efforts sooner rather than later. Working within the legal scope before you even buy property lets you plan development to maintain legality and budget.

Source: The Gazette, "Home of longtime Colorado Springs business might give way to northside retail center," Rich Laden, Sep. 04, 2015

No Comments

Leave a comment
Comment Information
  • Lead Counsel Rated | LC
  • BBB | Accredited Business
  • 10 Best 2017 Attorney | Client Satisfaction | American Institute Of Family Law Attorneys
  • Preeminent AV | LexisNexis Martindale-Hubbell | PeerReviewRated
  • Best's Client Recommended Insurance Attorneys Listed Over 25 Year
  • Expertise Best car accident Attorneys in fort collins 2018

Fort Collins Office
323 South College Avenue #3
Fort Collins, CO 80524

Toll Free: 866-686-1410
Phone: 970-237-5694
Fax: 970-482-8929
Fort Collins Law Office Map

Estes Park Office
513 Big Thompson Ave
Estes Park, CO 80517

Phone: 970-586-3505
Fax: 970-586-3269
Estes Park Law Office Map

Windsor Office
421 Main Street
Windsor, CO 80535

Toll Free: 866-686-1410
Map & Directions

Review Us
Providing You With The Information You Need To
Make The Right Choices For Your Future
EMAIL US FOR A RESPONSE

We Take Your Emails Seriously

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy