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DUCHARME, MCMILLEN & ASSOCIATES, INC.
CERTIFIED MAIL #7007 0220 0004 6086 4901
October 12, 2007
Board of Assessment Appeals
State of Colorado
1313 Sherman Street, Room 315
Denver, CO 80203
Re: Metal Sales Manufacturing, Inc.
7990 E. I-25 Frontage Road, Frederick
Parcel #131326201007 / Account #R4573406
To Whom It May Concern:
DuCharme, McMillen & Associates, Inc., ("DMA") is the duly authorized agent for the above
referenced taxpayer. As such, enclosed is an original and three (3) copies of a completed
Petition to the State Board of Assessment Appea/s, along with the $101.25 filing fee. Please
note:
1. Petition to State Board of Assessment Appeals is being filed directly from Assessors
Notice of Decision, which was not sent to "person presenting the objection and
protest" as required by CRS 39-5-122(2)
2. Due to late Notice of Decision to petitioner/agent, there was no opportunity to file to
County Board of Equalization, as all CBOE hearings concluded by end of August 2007
3. Granting of hearing by State Board of Assessment Appeals does not prejudice the
assessor's office
4. Equity demands this matter be heard by the State Board of Assessment Appeals due
to assessor's improper notice to the petitioner
If there are any questions, please contact me directly at (623) 582-6655, extension 2530.
Si cer ,
Kim J. Roge s
Senior Tax o sultant
Enclosures C3A::O
cc: Mr. Rory O'Neill, Vice President - Interlock Industries
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NORTH AMERICA'S CHOICE FOR CORPORATE TAX SOLUTIONS }� �}�'��
3050W.Agua Fria Fwy,Suite 250 • Phoenix,AZ 85027 • 623-582-6655 • Fax: 623.869-9180 • www.dmainr.rnm / '��-""'�9
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PETITION TO STATE BOARD OF ASSESSMENT APPEALS For Office useonly
1313 Sherman Street, Room 315 Phone: (303) 866-5880 Docket No,
Denver, Colorado 80203 Fax: (303) 866-4485
Fee: Y N
Check/Credit Card#
Date: 10/12/2007 P F H
Property Owner: Metal Sales Manufacturing Corp.
Subject Property: 7900 East 125 Frontage Road Longmont
Street Address City
Schedule Number(s): 131326201O07
Attach separate sheet if necessary
❑Board of Equalization
Appeals the decision of the Weld ❑Board of Commissioners Dated: 06/23/2007
County ❑State Property Tax Administrator
This Appeal concerns: IOValuation ❑Refund/Abatement 0 Exemption 0 State Assessed Tax Year: 200702008
The subject property is currently classified as:
Agricultural ❑Commercial I❑Exempt 0Industrial IDMixed Use ❑Natural Resources
❑Oil & Gas O Personal ❑Possessory ❑Producing I❑Residential ❑State Assessed
❑Vacant Land Interest Mines
Actual Value assigned to subject property: $4,545,362 Petitioner's estimate of value: $3,028,639
Estimated time for Petitioner to present the appeal: minutes or 1 hours.
Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator,
Appearance:
Petitioner will be present at the hearing ❑Petitioner will appear by telephone
O Petitioner will be represented by an agent Petitioner is responsible for calling the Board at 3O3-866-5880
U Petitioner will be represented by an attorney on the scheduled date and time of hearing(Mountain Time Zone)
All entities must appear under the representation of an attorney licensed in Colorado. Closely held entities, however, require
no attorney if they are represented by an officer of the entity as long as the amount in controversy does not exceed $10,000,
exclusive of costs, interest or statutory penalties. A closely held entity can have no more than three owners. A trust need not
be represented by an attorney as it is not an entity.
Filing Fee:
❑ None Petitioner is appearing pro se (self-represented) and has not filed more than two Petitions with the Board
of Assessment Appeals during this fiscal year(July 1 —June 30).
❑ $ 33.75 Petitioner is appearing pro se (self-represented) and has filed more than two Petitions with the Board of
Assessment Appeals during this fiscal year(July 1 —June 30).
0 $101.25 Petitioner will be represented by an agent or by an attorney.
•
In the space below, please explain why you disagree with the value assigned to the subject property
Proposed Real Market Value assessment does not reflect actual lair market value of the property and is,therefore,excessive.
Required attachments to this form:
El Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial
❑ Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator
Attachments required under certain circumstances:
❑ A notarized Letter of Authorization if an agent will be representing Petitioner
❑ A list of names, last known addresses and telephone numbers of co-owners or parties directly interested in the subject
property if applicable.
Certificate of Service
I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and
attachments were mailed, faxed or hand delivered to:
lJ Board of Equalization
Weld ❑Board of Commissioners
county ❑State Property Tax Administrator
at the following address: 1400 North 17th Avenue,Greeley,Co 80631
on 10/12/2007
Date
I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and
attachments were mailed, faxed or hand delivered to all co-owners or parties directly interested in the subject property
on 10/12/2007
Date
I hereby certify that four (4) true and correct copies of the foregoing Petition to the State Board of Assessment Appeals
and attachments were mailed or hand delivered to the Board of Assessment Appeals at 1313 Sherman Street, Room
315, Denver, CO 80203 on 10/12/2007
Date
(One copy may be faxed to the Board but the original and two additional copies must be mailed or hand delivered.)
Petitioner's Mailing Address is Required Even if Petitioner is Represented by An Agent or Attorney (per C.R.S.
39-8-10'
•
i�•: - ofAg-nt 0 Attorney O Signature of Petitioner
Kim J.Rogers- : A,Inc. Rory O'Neill-Metal Sales Manufacturing Corp/Interlock Industries
Printed Name Printed Name
3050 W.Agua Fria Freeway,Suite#250 445 E. Market Street,Suite#310
Mailing Address Mailing Address
Phoenix,AZ 85027 Louisville,KY 40202
City, State, Zip Code City, State, Zip Code
Telephone: (623)582-6655,ext.2530 Telephone: (502)569-2012
Daytime number
E-Mail: kjrogers@dmainc.com E-Mail: roryoneill@interlockindustries.com
Attorney Reg. No.: It is the Petitioner's responsibility to notify the BAA of any
change of address.
Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to
completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Colorado.gov/baa or
may be requested by phone at 303-866-5880.
- r
NOTICE OF DENIAL OFFiCI OF COUNTY ASSESSOR.
1400 NORJFI 17th AVE
FRE FWBCRA L1A'BLK1 FREDERICK WEST GREELFY CO80631
BUSINESS CENTER .RPLT A EXC W1 . 68AC PHONE(97o)353-384,,EXT.3650
n: HWY -ALSO EXC BEG NW COR SEC SOD07'E www co weld co.us
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23D56 ' W 218 .73 ' TO O W 92
50 D N 6 'W 113 . 08' DO202'W 92 . 13 ' . TH
COLORADO OWNER: METAL SALES MANUFACTURING CORP
METAL SALES MANUFACTURING CORP LOG 2715 -
7800 STATE RD #60 PARCEL 131326201007
ACCOUNT R4573406
SELLERSBURG, IN 47172 YEAR 2007
The appraised value of property is based on the appropriate consideration of the approaches to value required bylaw, The Assessor has determined that
your property should he included in the following category(ies)1. .
Commercial property is valued by considering the cost, market ,
and income approaches .
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings.
The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the
vatuation(s)assigned to your property The reasons for this determination of value are:
•
The Colorado Constitution requires commercial property to be valued based on
actual value and assessed at 29%. Replacement cost, market, and income are
approaches used to determine the actual value of your property. Your valuation
is supported by the appraisal procedures required by law.
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ..ESTIMATE
OFVALUE ' ACTUALVALUE ACTUALVALUE
PRIOR TO REVIEW AFTER REVIEW
COMMERCIAL - 430775 430775
INDUSTRIAL 4114587 4114587
TOTALS S _ S 4545362 S.'4545362
. -.-APPEAL DEADLINES: REAL PROPERTY-JULY 16,PERSONAL PROPERTY-JULY?0.
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration
§39-8-106(1)(a),C.R.S. TOPRESERVE YOUR APPEAL RIGHTS.YOU MAI'BE REQUIRED TO PROVE THAT YOU FILED.4 TIMELY APPEAL:
THEREFORE,WE RECOMMEND ALL CORRESPONDENCE RE MAILED WIl H PROOF OF MAILING.
06/23/2007
By: Christopher M.Woodruff
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE
NOD 207„:a7/07 `.
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR' S DECISION
The County Board of Equalization will sit to hear appeals beginning July 2 and continuing through August 3 for real
property(land and buildings) and personal property(furnishings,machinery, and equipment). § 39-8-104 and § 39-
8-107(2), C.R.S.
A n 1ttretti'IIWSTt'
If you choose to appeal the Assessor' s decision, mail or deliver one copy of this completed form to the County
Board of Equalization. To preserve your right to appeal, your appeal must he POSTMARKED OR DELIVERED
ON OR BEFORE JULY 16 FOR REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY.
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone(970) 356-4000 Ext. 4225
Wilt*
Y{ yyy
You will be notified
�off y5 y
the time and place set for the hearing o�fyour appeal.
�y
The County Board of Equalization must make a decision on your appeal and mail you a determination within five
business days of that decision. The County Board must conclude its hearings and render decisions by August 3:
tr . °^;initittatiliSICOWEGRTittleAlaSf
If you are not satisfied with the County Board of Equalization's decision you must file within thirty days of the
County Board of Equalization' s written decision\kith ONE of the follottfing:
Board of Assessment Appeals (BAA):
1313 Sherman Street. Room 315
Denver. Colorado 80203
Telephone (303) 866-5880
w ww:dola.colorado._ovibaa
District Court:
9th Avenue and 9th Street, P.O. Box C
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4520
Arbitration:
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4225
If you do not receive a determination from the County Board of Equalization, contact the county board. If the
county board is not going to mail a decision,you must file an appeal with the Board of Assessment Appeals by
September 10th.
TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY
APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF
OF MAILING.
PETITION TO THE COUNTY BOARD OF EQUALIZATION_
In the space below,please explain why you disagree with the Assessor' s valuation. IN ACCORDANCE WITH §
39-8-106(1.5), C.R.S., IF YOUR APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR
OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as
necessary.
S1GNA I URL OF 1'L"1 111ONLH DA I I
NOD 207 62 R7/07
' • Complete items 1,2,s .Also complete - A Signet
• item 4 if Restricted Delt...,y is desired. O Agent
X
■ Print your name and address on the reverse / ❑Addressee
so that we can return the card to you. B. Received by(Printed Name) C. Date of Delivery
■ Attach this card to the back of the mailpiece,
or on the front if space permits.
D. Is delivery address different from item 1? O Yes
1. Article Addressed to: If YES,enter delivery address below: O No
ASSESSOR'S OFFICE
WELD COUNTY
' 1400 N 17TH AVE
GREELEY, RECEIVED
CO 80631-9563 3. ervice Type
- rtlfied Mail O Express Mall
O Registered Q Return Receipt for Merchandise
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4. Restricted-Oellvery'7(F.xtia Fee) r. p yes
2. Article Number
(Transfer from service label,_ 7007 0220 0004 6086 AD_DDHX_
PS Form 3811, February 2004 Domestic Return Receipt ,1025955-o2-M-1540
•
U.S. Postal Service,un
CERTIFIED MAIL,. RECEIPT
- (Domestic Mail Only;No Insurance Coverage Provided)
F•r•elivery int.rmati•n visit•ur we site at www.us�s.c•m;�.
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Sent To
O Street,Apt.No
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WELDESSO COUNTY
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00 N 17THS AVE
O or Poe°xN°. GREELEY, CO 80631-9563 /
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UNITED STATES POSTAL SERVICE "%w,,,... ...„."
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• Sender: Please print your name, address, and ZIP-4 Millis box 4,,......„
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SARAH G. ALCOCK
DUCHARME, MCMILLEN & ASSOCIATES, INC.
3050 W AGUA FRIA-FWY250
PHOENIX, AZ 85027-7203
(AH'I
DMA
DUCHAR ME. MCMILLEN & ASSOCIATES. INC.
CERTIFIED MAIL #7007 0220 0004 6086 3904
May 24, 2007
Assessor's Office
Weld County
1400 North 17th Avenue
Greeley, CO 80631
Re: Metal Sales Manufacturing Corp.
7990 E. I-25 Frontage Road, Frederick
Parcel #131326201007 / Account #R4573406
To Whom It May Concern:
DuCharme, McMillen & Associates, Inc. is the duly authorized agent for the above
referenced taxpayer (signed and notarized Letter of Agency is attached). As such, this
letter serves as the Real Property Protest of the 2007p2008 assessment of the referenced
parcel.
The proposed 2007 Real Market Value is $4,545,362, which equates to $42.62 per square
foot, including the land. Four comparable sales of industrial properties in the northern
Denver metro region were identified, reflecting an average unit value of $25.00 per square
foot. Additionally, three land-only sales were identified to account for the excess land
associated with the subject parcel, yielding a unit value of $0.80 per square foot for the
excess land. A Comparable Sale Summary and supporting documentation are attached for
your reference and review.
The following methodology was used to derive the unit value we are requesting:
Total Land Area= 719,611
Standard Land Area= 266,625
Excess Land Area= 452,986 sf X $0.80 = $362,389
Industrial Imp. Value= $2,666,250
Excess Land Value= 362.389
Total Indicated Value= $3,028,639 ("$28.00/ SF)
If you have any questions, or require additional information, please call me at (623) 582-
6655, extension 2530.
Sin rely,
•
i
J. Roge '
Senior Tax o sultant
Enclosures
cc: Rory O'Neill - Metal Sales Manufacturing Corp.
NORTH AMERICA'S CHOICE FOR CORPORATE TAX SOLUTIONS
3050 W.Agua Fria Fwy,Suite 250 • Phenix,AZ 85027 • 623-582-6655 • Fax:623-8699180 • wua.dmmnc.com
May. 24. 2UU7 2 21=HM Esl_OCK 1NDJSTR'=C RC. ND, 2E P. 2
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445 EAST Mfnxxer 5(AM's, 51,7/E 310
LOUISVILLE,KENTIUCKY 40202
502.569.2007-302.569.2016/0a
WWW.L\7ERLOCKNDUSTRME5.COM
PROPERTY TAX
LETTER OF AGENCY Date: OS"etS.e4p/f�This authorizes:
Agent's Name DuCharme,McMillen&Associates, Inc.
Business Address 3050 W.Aqua Fria Freeway, Suite 9250, Phoenix,AZ 85027
Telephone No. (623) 582-6655 Fax No. (623) 869.9180
to represent the undersigned in all matters of property tax assessments before any governmental
assessing officials or any other authority having jurisdiction regarding the assessments levied on the
following described property in Weld County. Colorado:
7990 W. 125 Frontage Road(Account#R4573406)
This authorization is specific to the following tax year(s): 200702008 and 200802009
By: �I
(Signature
C f'y.qq L Mar F.:'f)
(Typed siv7ature)
CFO
(Corporate Tide)
hedtrzieek Awe.
{ (Company)
�/Q State of: i 1\e--1A+1...U../11
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County of: T? erSscrv•
The foregoing Instrument was duty acknowledged before me by (LtrtMty M&L� ],for the uses and
purposes therein expressed. ']�f y� !lVV44
Witness my hand and Notarial Seal,this all day of Mil 1Q J6 , 20 01.
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p,ir-N31-#1 Notary IIC
My commission expires: 'µms!Pubic,Slab 0f lettyk M
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10700 E 45th Ave SOLD
Denver,CO 80239-Cent E I-701Montbello Ind Sutmiarket
Sale on 01/05/2008 for$4,150,000($39.08/SF)-Research Complete
106,195 SF Class B Manufacturing Building Boat in 1979
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Buyer&Seller Contact Info
Recorded Buyer. Etkin FUR,LLC Recorded Seller Corporate Express Document
1 Environmental Way
Broomfield,CO 80021
(303)664-2000
True Buyer: Etkln Johnson Group Seller Contact: Matt Len hart
1512 Larimer St
Denver,CO 80202
(303)629-5212
Buyer Type: Developer
Buyer Broker. CB Richard Ellis Listing Broker CB Richard Ellis
James Bolt James Bolt
(720)528-6310 (720)528-6310
William Thompson William Thompson
(720)528-6300 (720)528-6300
Transaction Details ID:1083160
Sale Date: 01/05/2006(60 days on market) Sale Type: Investment
Escrow Length: 30 days Bldg Type: Manufacturing
Sale Price: $4,150,000-Confirmed Year BuilUAge: Built in 1979 Age:27
Asking Price: - RBA: 106,195 SF
Price/SF: $39.08 Land Area: 5.87 AC(255,654 SF)
Price/SF Land Gross: $16.23
Percent Leased: 100.0%
Tenancy: Single Percent Improved: 77.7%
Transfer Tax: $415 Total Value Assessed: $3,443,100 in 2005
Improved Value Assessed: $2,676,200
Land Value Assessed: $766,900
Land Assessed/SF: $2.00
No.of Tenants: 1
Tenants at time of sale: Food Bank of the Rockies
Financing: $4,150,000.00 from FirstBank of Denver NA::due in 2 yrs
DMA Tnn mgnpnted capon contains mnr&licensed to ouChnre.MCMnen B Pswdaru,Inc.-1=05. 5/12/2007
...�,...,...... Page 1
10700 E 45th Ave SOLD
106.195 SF Class B Manufacturing Building Built in 1979(conl)
Legal Desc: Lot 3 Montbello No.22
Parcel No: 1232.12-009
Document No: 0002087
Transaction Notes
Income/Expense:
The property was vacant at time of sate,however,the new tenant will be Food Bank of the Rockies.
Etkin FBR,LLC do Bruce Etldn
Corporate Express Document do Matt Lenhart
•Seller.Corporate Express Document Print Management,Inc.
Mill Levy:64.402
Current Industrial Information ID:397032
Bldg Type: Manufacturing RBA: 106,195 SF
Bldg Status: Built in 1979 %Leased: 100.0%
Rent'SF/Yr - Stories: 1
Bldg Vacant 0 SF Total Avail: 0 SF
Building FAR 0.42 Warehouse Avail: 0 SF
Office Avail: 0 SF CAM -
Max Contig: • Zoning: I-2,Denver
Smallest Space: - Owner Type: -
Land Area: 255,654 SF Owner Occupied: Yes
Lot Dimensions: - Tenancy: Single
Ceiling Height: 21'0"-23'0" Column Spadng: 40'w x 3rd
Loading Docks: 8 ext(bldg.total) Levelators: -
Cross Docks: - Crane: •
Drive Ins: 1/9'0"w x 10'0"h(total) Const Type: Masonry
Sprinklers: Wet Rail Spots: Yes
Rail Line: Union Pacific Railroad
Property Mix: Industrial 96,637 SF (91.0%)
Office 9,558 SF (9.0%)
Expenses: 2004 Tax S 50.54Isf
Power: 4000/V480v 3p
Parking: 120 free Surface Spaces are available; Ratio of 1.30/1,000 SF
Features: Property Manager on Site
Location Information
Located: Havana St&I-70
Metro Market: Denver
Submarket: East l-701Montbello Ind/Cent E I-70/Nlontbello Ind
County: Denver
CBSA: Denver-Aurora,CO
CSA Denver-Aurora-Boulder,CO
DMA Denver,CO-NE-WY-NV
Map(Page): Pierson Graphics Corp 257-P
TAs*CJMK*"port contain,,warm Keen**a DCCha"*.MWKMn a Anoditas.Inc.100105. 5/12/2007
.......` Page 2
10700 E 45th Ave SOLD
100,195 SF Class B Manufacturing Building Built in 1979(cone)
Parcel Number: 1232-12-009
Legal Description: Lot 3 Mmabatho No.22
County: Denver
Plat Map:10700 E 45th Ave
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555 Aspen Ridge Dr SOLD
2 Lafayette,CO 80026-Northwest Ind Submarket
Sale on 02/21/2006 for$3,250,000($27.54/SF)-Research Complete
118.000 SF Class B Warehouse Building Built In 1884.Renov 1997
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Buyer&Seller Contact Info
Recorded Buyer: Stephen D.Tebo Recorded Seller. Morgan Stanley Dean Witter Cap
135 S La Salle St
Chicago,IL 60674
(312)706-4000
True Buyer: Stephen D.Tebo Seller Contact: LaSalle Bank NA,Trustee
1590 Broadway St
Boulder,CO 80302
(303)447-8326
Buyer Type: Individual
Buyer Broker. No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal
Transaction Details ID:1103186
Sale Date: 02/21/2006 Sale Type: Investment
Escrow Length: 45 days Bldg Type: Warehouse
Sale Price $3,250,000-Confirmed Year Built/Age. Built In 1984,Renov 1997 Alp:22
Asking Price: - RBA: 118,000 SF
Price/SF. $27.54 Land Area: 6.99 AC(304,484 SF)
Price/SF Land Gross: $10.67
Percent Leased: 100.0%
Tenancy: Multi
Sale Conditions: Distress Sale
Transfer Tax: $325
Financing: Lender Not available
Legal Dese: Lot 6 blk 1&lots 3 thru 6 blk 2,Black Diamond Subdiv Fig No.2
Parcel No: 1465340-03405,1465340-04-003
Dowment No: 2757870
Sale History: Sold for$3,250,000($27.54/SF)on 02212006
Sold for$6,900,000($58A7/SF)on 09/21/2000
TMs o ppiehr d noon omens mare,'tensed to Ducram NA e,Mden sasoosas.Inc..100205, 5/12/2007
,�. �.:.�`......,, Page 4
555 Aspen Ridge Dr SOLD
118,000 SF Class B Warehouse Building Built in 1984,Renov 1997(can't)
Transaction Notes
Income/Expense:
The property was vacant at time of sale.
Morgan Stanley Dean Writer Cap do LaSalle Sank NA,Trustee
Mill Levy:72.932
Current Industrial Information ID:19276
Bldg Type: Warehouse RBA: 118,000 SF
Bldg Status: Built in 1984,Renov 1997 %Leased: -
Rent/$F/Yr: $3.95 Stories: 1
Bldg Vacant: 118,900 SF Total Avail: 118,000 SF
Budding FAR: 0.39 Warehouse Avail: 118,000 SF/20,950 oft
Office Avail: 0 SF CAM -
Max Contig: 118,000 SF Zoning: M-1/PUD,Lafayette
Smallest Space: 35,000 SF Owner Type: -
Land Area: 304,414 SF Owner Occupied: No
Lot Dimensions: - Tenancy: Multi
Ceiling Height: 12'0"-22'0" Column Sparing: -
Loading Docks: 6 ext(bldg.total) Levelators: None
Cross Docks: No Crane: None
Drive Ins: 1/10'0"h(total) Const Type: Reinforced Concrete
Sprinklers: Wet Rail Spots: None
Rail Line: None
Property Mix: Industrial 88,500 SF (75.0%)
Office 29,500 SF (25.0%)
Expenses: 2004 Est Tax @$1.22/sf Power: 2250a/277-480v 3p 4w
Utilities: Gas,Sewer,Water
Parking: 251 Surface Spaces are available; Ratio of 2.12/1,000 SF
Features: ANC,Partial Stories Exist Property Manager on Site
Location Information
Metro Market: Denver
Submarket: Northwest Ind/Northwest Ind
County: Boulder
CBSA: Boulder,CO
CSA: Denver-Aurora-Boulder,CO
DMA: Denver,CO-NE-WY-NV
Map(Page): Pierson Graphics Corp 214
This copyrighted report=Mans research licensed to DuCheme,Mdlrle,&Associates,Inc.100205. 5/12/2007
"..._...�...-...�.....- Page 5
555 Aspen Ridge Dr SOLD
118,000 SF Class B Warehouse Building Built in 1984,Renov 1997(cony)
Parcel Number: 1455340-03-005,1485340-04-003
Legal Desaiption: Lot 5 Mk 1&lots 3 thru 5 blk 2,Black Diamond Subdiv Flg No.2
County: Boulder
Plat Map:555 Aspen Ridge Dr
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600-606 W Bayaud Ave SOLD
3 Denver,CO 80223-Lower Central Ind Submarket
Sale on 02/15/2006 for$1,850,000(923.71/SF)-Research Complete
78.023 SF Class C Warehouse Building Built in 1954
# N T W 5th Ave 0I 600m
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Buyer&Seller Contact Info
Recorded Buyer. Bleekwater Development LLC Recorded Seller: The West Bayaud,LLC
8101 E Prentice Ave 1660 Lincoln St
Greenwood Village,CO 80111 Denver,CO 80264
(303)861-4900
Seller Contact: William Feinberg
Buyer Broker CB Richard Ellis Listing Broker: The William Feinburg Companies,Ltd
James Bolt William Feinberg
(720)528-6310
Tyler Career
(720)528-6397
Mike Camp
(720)528-6300
Transaction Details ID:1114417
Sale Date: 02/15/2008 Sale Type: Investment
Escrow Length: 90 days Bldg Type: Warehouse
Sale Price: $1,850,000-Confirmed Year Built/Age: Bulk in 1954 Age:52
Asking Price: - RBA: 78,023 SF
Price/SF: $23.71 Land Area: 2.82 AC(122,909 SF)
Price/SF Land Gross: $15.05
Percent Leased: 0.0%
Tenancy: Single Percent Improved: 54.8%
Transfer Tax: $185 Total Value Assessed: $2,425,100 In 2005
Improved Value Assessed: $1,328,100
Land Value Assessed: $1,097,000
Land Assessed/SF: $8.00
No.of Tenants: 1
Tenants at time of sale: Harrow Sport,Inc
Financing: Down payment of$130,000.00(7.0%)
$1,720,000.00 from US Bank National Association
Tors mpyrpnted report mrntains research licensed to Ducname.McMillen a Associates.me-100205. 5/12/2007
%CV Page 7
600406 W Bayaud Ave SOLD
78,023 SF Class C Warehouse Building Built in 1954(cony)
Legal Desc SW4 SW4 Sec 10 T4S R68W
Parcel No: 5103-00039
Document No: 0028688
Sale History: Sold for$1,850,000($23.71/SF)on 02/15/2006
Sold for$1,575,000(320.19/SF)on 12/2711995
Transaction Notes
Income/Expense:
Information not available due to a confidentiality agreement between the parties involved.
Blackwater Development,LLC do Not Available
The West Bayaud,LLC do Wiliam Feinberg
Mill Levy:66.202
Reportedly,at the lime of the sale there was no deferred maintenance.
Current Industrial Information ID:396437
Bldg Type: Warehouse RBA 78,023 SF
Bldg Status: Bulk in 1954 %Leased: 100.0%
Rent/SF/Yr. - Stories: 1
Bldg Vacant: 0 SF Total Avail: 0 SF
Building FAR: 0.63 Warehouse Avail: 0 SF
Office Avail: 0 SF CAM -
Max Contig: - Zoning: I-1,Denver
Smallest Space: - Owner Type: -
Land Area: 122,909 SF Owner Occupied: No
Lot Dimensions: - Tenancy: Single
Ceiling Height 14'0"•18'0" Column Spacing: -
Loading Dodos: 2 intl2 eat(bids,total) Levelators: -
Cross Docks: - Crane: -
Drive Ins: None(total) Const Type: -
Sprinklers: Wet Rail Spots: None
Rail Line: None
Property Mix: Industrial 74,122 SF (95.0%)
Office 3,901 SF (5.0%)
Power. 3000a1480v 3p
Parking: 50 free Surface Spaces are available; Ratio of 0.30/1,000 SF
Features: Skylights
Location Information
Metro Market Denver
Submarket: Central Ind/Lower Central Ind
County: Denver
CBSA Denver-Aurora,CO
CSA Denver-Aurora-Boulder,CO
DMA: Denver,CO-NE-WY-NV
This mpI.gMSd row,Mntin{moult hoonad to DuClume.McMillen&MxcocWls,Inc-100205. 5/12/2007
1/4132.A Page a
600-606 W Bayaud Ave SOLD
78.023 SF Class C Warehouse Building Built in 1954(cony)
Parcel Number. 5103-00-039
Legal Description: SW4 SW4 See 10 T4S R68W
County: Denver
Plat Map:600-006 W Bayaud Ave
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�%. Page 9
237 22nd St SOLD
4 Greeleylndusulal Park
Greeley,CO 80631-Weld County Ind Bubrmrket
Sale on 10/04/2005 for$1,100,000($11.80/SF)-Research Complete
94,859 SF Class B Warehouse Building Buitt in 1965
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c 434 E27th St
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Buyer&Seller Contact Info
Recorded Buyer, 22 Greeley,LLC Recorded Seller. Startek USA,Inc
True Buyer. Tom Duffy True Seller -
Buyer Broker. Realtec-Greeley Listing Broker: Realtec-Greeley
Mark Bradley Mark Bradley
(970)346-9900 (970)346-9900
Transaction Details ID:1056626
Sale Date: 10/04/2005(180 days on market) Sale Type: Investment
Escrow Length: 60 days Bldg Type: Warehouse
Sale Price: 31,100,000-Confirmed Year Buil/Age: Built in 1985 Age:40
Asking Price: - RBA: 94,859 SF
Price/SF: $11.60 Land Area: 6.10 AC(265,716 SF)
Price/SF Land Gross: $4.14
Percent Leased: 0.0%
Tenancy: Multi Percent Improved: 70.0%
Transfer Tax: $110 Total Value Assessed: $933,580 in 2005
Improved Value Assessed: 5653,673
Land Value Assessed: $279,907
Land Assessed/SF: $1.00
Financing: Down payment of$140,000.00(12.7%)
$960,000.00 from Mountain States Bank::due in'I yrs
Legal Desc: Lots 1,2,10-14 blk 1 Greeley Industrial Park
Parcel No: 096117102002
Document No: 3328795
This mpyh9htef roped omtans research licenses'to DUChame,McMillen&Aucdake Inc•10@05. 5/102007
�A Page 10
237 22nd St SOLD
94,859 SF Class B Warehouse Building Built in 1985(cont)
Transaction Notes
Income/Expense:
The property was vacant at time of sale.
22 Greeley,LLC clo Torn Duffy
Notes:The listing agent reported the buyer will divide(10,000 SF and above)the building for multiple users.
'Listing/Buyers Broker.Jennifer Downs(Bitzer Real Estate)was also one of the listing agents,and can be readied at(303)296-8500.
David Johnson was another agent involved in this transaction,and he can be reached at(303)884-7077.
Mill Levy:N/Av
Income Expense Data
Expenses -Taxes $26,561
-Operating Expenses 52,846
Total Expenses 529,406
Net Income Net Operating Income ($29,406)
-Debt Service
-Capital Expenditure
Cash Flow ($29,406)
Current Industrial Information ID:1056786
Bldg Type: Warehouse RBA: 94,859 SF
Bldg Status: Built in 1965 %Leased: -
RenUSF/Yr $2.75 Stories: 1
Bldg Vacant: 94,859 SF Total Avail: 94,859 SF
Building FAR: 0.36 Warehouse Avail: 94,859 SF
Office Avail: 0 SF CAM -
Max Condg: 94,859 SF Zoning: I-M,Greeley
Smallest Space: 10,000 SF Owner Type: •
Land Area: 265,716 SF Owner Occupied: No
Lot Dimensions: - Tenancy: Multi
Ceiling Height: 16'0"-18'0" Column Spacing: -
Loading Docks: 8 ext(bldg.total) Levelators: -
Cross Docks: - Crane: -
Drive Ins: - Const Type: Steel
Sprinklers: Yes Rail Spots: 1 ext
Rail Line: Union Pacific Railroad
Property Mix: Industrial 89,167 SF (94.0%)
Office 5,692 SF (6.0%)
Expenses: 2005 Tax $0.28/sf;2005 Ops Q$0.03/sf
Power 120.208a/440v
Parking: 154 Surface Spaces are available; Ratio of 1.62/1,000 SF
Location Information
Park Name: Greeleylndustrfai Park
Metro Market: Denver
Submarket: Weld County Ind/Weld County Ind
County: Weld
CBS& Greeley,CO
DMA: Denver,CO-NE-WY-NV
This copy.i htetl wort contains reward,licensed In D„G,nne.MeMWen&Associates.Inc.10@05. 6/12/2007
�A Page 11
237 22nd St SOLD
94,859 SF Class B Warehouse Building Built in 1965(cony)
Map(Page): Pierson Graphics Corp 99-KR45
This cop/dgted report contains(beach license m ouCMee,McMillen a AssocSSsa Inc-leans. 8112/2007
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D 2009 t aOQuest Inc:alt 2006 Tele Alfas
Address City Property Info Sale Info
10700 E 45th Ave Denver 106,195 SF Sold:84,150,000(S39.08/SF)
Industrial/Manufacturing
555 Aspen Ridge Dr Lafayette 118.000 SF IndushiayWarehouse Sold:83,250,000(127.54/SF)
600 06 W Bayaud Ave Denver 78,023 SF IrdusiriaWVarehouse Sold:81,850,000(S23.71/SF)
237 22nd St Greeley94,859 SF IndustriaIMlarehouse Sold:61.100,000($11.60/SF)
This copynghw report content reeeaM acsneed to 0uOn.McMillen d astodeles,Inc.100265. 6/12/2007
LMr Page 1
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MI County Road 64 SOLD
Windsor,CO 80550 Weld County
Recorded Buyer Mauna Towers Lic Recorded Seller: Crown Broadcasting,Inc.
1063 Big Thompson 1476 Waterfront Rd
Loveland,CO 80537 Reston,VA 20094 LAND
(703)904-6394
Seller Contact: Crown Broadcasting,Inc.
Sale Dale: 03/23/2007 Land Area: 435,600 SF(10 AC)
Sale Price: $285,000-Full Value Lot Dimensions: Irregular
S/SF Land Gross: $0.65($28,500.001AC) Proposed Use: Utility Sub-Station
Density: - Zoning: •
Topography: Level Sale Conditions: -
Parcel No: 80729000046
Financing: •
Camp ID: 1268021 — Research Status: Research Complete
® International Blvd-Hold For Development Site SOLD
Fort Collins,CO 80626 Larlmer County
Recorded Buyer: /*park Village,LLC Recorded Seller: W.D.Kincaid
1593 Jamaica St 296 N Buns Ave
Aurora,CO 80012 Buffalo.WY 82834 LAN e
(303)671-5340 (307)684-7053
Sale Date: 09/08/2008 Land Area: 1,001,880 SF(23 ACI Map Page:Meesco 62-JX32
Sale Price: $426,000-Full Value Lot Dimensions: -
$/SF Land Gross: $0.43($18,521.74/AC) Proposed Use: Hold for Development
Density: - Zoning: I,County
Topography: - Sale Conditions: -
Parcel No: 87071.00-007
Financing: Lender Not available
Comp ID: 1164747 — Research Status: Research Complete
IIIUS Hwy 85-Cement/rock/gravel Plant Site SOLD
Fort Lupton,CO 80621 Weld County
Recorded Buyer. SW Vlllaneaux.LLC Recorded Seller: Shawn E.Wiant Living Trust
333 W Hampden Ave
Englewood,CO 80110 LAN s
(303)534-1040
Seller Contact: Shawn Wiant
Sale Date: 08101/2005 Land Area: 481,733 SF(16.88 AC) Map Page:Pierson Graphics
Sale Price: $510,000•Confirmed Lot Dimensions: Irregular Corp 273-KK70
S/SF Land Gross: $0.74($32,115.87/AC) Proposed Use: Cement/Gravel Plant
Density: - Zoning: A,Fort Lupton
Topography: Level Sale Conditions: Assemblage
Parcel No: 147118000089
Financing: Lender Not available
Comp ID: 1067307 — Research Status: Research Complete
Teas mpyiigtd report contains research!tensed u DuChar e.McMillen a wucdaes.Ina•100205. 5/12/2007
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Address City Property Info Sale Info
ICounty Road 64 Windsor 70 AC Land Sold:$285,000($0.65/SF)
International Bind Fort Collins 23 AC Land Sold;$426,000($0.a3iSF)
US Hwy 85 Fart Lupton 15.88 AC Land Sold:5510,000(50.74/SF)
TN.cepydgNS 'Mewed
report conla,ns research'Mced to nuCkame.MdIWen&Asnodalea.Inc.100105. 6112/2007
`Mi Page 1
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