DENVER, Aug. 20, 2015 /PRNewswire/ -- Today, Northstar Commercial Partners announced the successful acquisition of a 120,000 SF industrial warehouse building located on 20 acres at 800 Hoyt Street in Broomfield, CO.
Though the asset is currently vacant, this investment allows Northstar the ability to improve a blighted site, through its plans to build two new state-of-the-art industrial buildings of approximately 350,000 SF. This development should make a positive contribution to the local community, establish new jobs for area residents, and create an immediate increase in value for the asset.
This project provides a tremendous opportunity for Northstar to demonstrate its ability to partner with cities and municipalities in addition to businesses and corporations.
"800 Hoyt is an exciting purchase for so many reasons," said Brain Watson, Founder & CEO of Northstar Commercial Partners. "With this piece of property in Broomfield, we are able to come alongside the City of Broomfield and be utilized as a resource to initiate positive change."
"Through our restoration efforts we hope to bring lasting value, not only to the site itself, but also to the community as a whole," Watson continued.
Now, a vacant industrial property that would otherwise be viewed as a negative facet and burden to the area, it will become an attractive location for many future jobs and business opportunities to flourish.
800 Hoyt is located at the midpoint on the main Denver/Boulder corridor, which serves as an ideal location to meet the various commercial needs of these two thriving economies.
"We're excited to work together with Northstar at this particular site in our community and to see what the future holds," said Bo Martinez, Director of Economic Development for the City and County of Broomfield.
"Our experience with the entire team there has already been exceptional as we've discussed various options and potential for 800 Hoyt," Martinez concluded.
Northstar is confident that the purchase of 800 Hoyt will serve as a force for good in the Broomfield community and become a successful model for similar real estate opportunities in the future.
About Northstar Commercial Partners
Founded in 2000 by Brian Watson, Northstar Commercial Partners is a privately held commercial real estate investment company headquartered in Denver, Colorado.
Northstar acquires and operates attractive commercial real estate opportunities throughout the nation and orchestrates all aspects of the investment from initial concept through to completion.
Northstar has purchased assets from a multitude of Fortune 500 companies including, but not limited to: Shell Oil Co., GE, Columbia House, Ball Corporation, Loomis, Cargill and a national portfolio of real estate from The Benjamin Moore Paint Co., in addition to many individual assets from other owners, lenders and companies.
SOURCE Northstar Commercial Partners