HomeMy WebLinkAbout991917.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1999, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
PETITION OF:
HEWLETT-PACKARD CO
CORPORATE TAX DEPT M/S 20BF
3000 HANOVER ST
PALO ALTO, CA 94304
DESCRIPTION OF PROPERTY: ACCOUNT#: R1966586 PARCEL #: 095904300025 -
GR 17383 PT SW4 4 5 66 (PARCEL 2) (NORTH SHEEP DRAW ANNEX) LYING W OF FOL
DESC LN BEG S89D29'E 2599.3' OF SW COR SEC N05D20'E 628.92' N29D06'E 227.5' TO E
LN SW4 N05D49'E 918.02' N58D11'W 210' N04D49'E 400.01' N04D49'E 632.18' TO E-W C/L
SEC SAID PT BEING 207.941W OF NE COR SW4 SEC (IMPS ONLY - PIN #1160196) (5.67R
16L) %712 71 AVE%
WHEREAS, the Board of County Commissioners of Weld County, Colorado, convened
as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the
assessment and valuation of real and personal property within Weld County, fixed and made by
the County Assessor for the year 1999, and
WHEREAS, said petition has been heard before the County Assessor and due Notice of
Determination thereon has been given to the taxpayer(s), and
WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's
valuation for the year 1999, claiming that the property described in such petition was assessed
too high, as more specifically stated in said petition, and
WHEREAS, said petitioner being represented by Jason and Steve Letman, and
WHEREAS, the Board has made its findings on the evidence, testimony and
remonstrances and is now fully informed.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, acting as the Weld County Board of Equalization, that the evidence presented at
the hearing clearly supported the value placed upon the Petitioner's property, after review by
the Weld County Assessor. Such evidence indicated the value was reasonable, equitable, and
derived according to the methodologies, percentages, figures and formulas dictated to the Weld
County Assessor by law. The assessment and valuation of the Weld County Assessor shall be,
and hereby is, affirmed as follows:
ACTUAL VALUE
AS DETERMINED
BY ASSESSOR
Land $ 722,421
Improvements OR
Personal Property 12,002,860
TOTAL ACTUAL VALUE $ 12,725,281
991917
C C A S AS0043
RE: BOE - HEWLETT-PACKARD CO
Page 2
BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by the Board
of Equalization may be appealed by selecting one of the following three options; however, said
appeal must be filed within 30 days of the denial:
1. Board of Assessment Appeals: You have the right to appeal the County
Board of Equalization's (CBOE's) decision to the Board of Assessment
Appeals (BAA). Such hearing is the final hearing at which testimony,
exhibits, or any other evidence may be introduced. If the decision of the BAA
is further appealed to the Court of Appeals, only the record created at the
BAA hearing shall be the basis for the Court's decision. No new evidence
can be introduced at the Court of Appeals. (Section 39-8-108(10), CRS)
Appeals to the BAA must be made on forms furnished by the BAA, and
should be mailed or delivered within thirty (30) days of denial by the
CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 523
Denver, CO 80203
Phone: 866-5880
OR
2. District Court: You have the right to appeal the CBOE's decision to the
District Court of the county wherein your property is located. New testimony,
exhibits or any other evidence may be introduced at the District Court
hearing. For filing requirements, please contact your attorney or the Clerk of
the District Court. Further appeal of the District Court's decision is made to
the Court of Appeals for a review of the record. (Section 39-8-108(1), CRS)
OR
3. Binding Arbitration: You have the right to submit your case to arbitration.
If you choose this option the arbitrator's decision is final and your right to
appeal your current valuation ends. (Section 39-8-108.5, CRS)
Selecting the Arbitrator: In order to pursue arbitration, you must notify the
CBOE of your intent. You and the CBOE select an arbitrator from the official
list of qualified people. If you cannot agree on an arbitrator, the District Court
of the county in which the property is located will make the selection.
Arbitration Hearing Procedure: Arbitration hearings are held within sixty
days from the date the arbitrator is selected. Both you and the CBOE are
entitled to participate. The hearings are informal. The arbitrator has the
authorily to issue subpoenas for witnesses, books, records, documents and
other evidence. He also has the power to administer oaths, and all questions
of law and fact shall be determined by him.
991917
AS0043
RE: BOE - HEWLETT-PACKARD CO
Page 3
The arbitration hearing may be confidential and closed to the public, upon
mutual agreement. The arbitrator's written decision must be delivered to
both parties personally or by registered mail within ten (10) days of the
hearing. Such decision is final and not subject to review.
Fees and Expenses: The arbitrator's fees and expenses are agreed upon
by you and the CBOE. In the case of residential real property, such fees and
expenses cannot exceed $150.00 per case. The arbitrator's fees and
expenses, not including counsel fees, are to be paid as provided in the
decision.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 3rd day of August, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
UNTY, C LORADO
ATTE :
ieci aith Dale K. Hall, Chair
Wel o nt 'Clerk iaA and
EXCUSED
Barber J. Kirkmeyer, Pro-Tem
BY: r
Depu __ a Board Z •
Geor ter
APPROVED AS TC FORM:
p, _ M. J Geile
'[�orn i
Ayes slant unty Attorney ;' 'tcP %,
Glenn Vaad
991917
AS0043
JUL 15 '99 11 51 FROM WELD CO TREASURER TO 35 42 PAGE.003/009
NOTICE OF DENIAL
GR 17383 PT SW4 4 5 66 (PARCEL 2)
(NORTH SHEEP DRAW ANNEX) LYING W
OF BOL DESC LN BEG S89D29'E 2599.3'
OF SE COR SEC NO5D2O'E 628.92'
N29:D06'E 227.5' TO E IN SW4 N05D49'E
918.02' N58D11'W 210' N04D49'E 400.01'
OWNER_ HEWLETT-PACKARD CO
HBWL31T-PACEARD CO LOG 2542
CORPORATE TA% DEPT M/S 20BF PARCEL 095904300025
3000 HANOVER ST ACCOUNT R1966586
PALO ALTO, CA 94304 YEAR 1999
.07/15/1999
AGRICULTURAL LAND VALUE IS DETERMINED HOLEY BY TEE EARNING OR
PRODUCTIVE CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET BYLAW.
COMMERCIAL PROPERTY IS VALUED SY CONSIDERING THE COST, MARKET, AND INCOME
APPROACHES.
NO CHANGE HAS BEEN MADE TO THE VALUATION OF THIS PROPERTY. COLORADO LAW REQUIRES
OS TO SEND THIS NOTICE OF DENIAL FOR ALL PROPERTIES ON WHICH WE DO NOT ADJUST THE
VALUE.
LAND 122421 722421
IMPS 12002860 12002860
12725281 12725281
•
07/15/1999
CONSULTUSt.
ASSET VALUATION, INC.
7445 E. Peakvrew Ave. (303)770-2420
Englewood, CO 80111 FAX: (303)770-2430
-
I IL
July 9, 1999
Weld County BOE
915 10th St
P.O. Box 758
Greeley, Co 80632
To Whom It May Concern:
We appealed the two properties shown below at the assessor level. We have not received a
Notice of Determination. We wish to file appeals to the Board of Equalization on the two
properties. If you have any questions, call me at 303-770-2420.
Address Schedule No. Value Request ¢a 1 `'
c go. 712 71st Avenue 95904300025 $9,000,000 '44 Ant
CA)"
A.
K H ,� �,n e 5436 W 7th Street Road 95903308006 $ 684,000
/',L„'i ,ti." P74 •-J Ai7 +'t
Sincerely,
Cd4 II 1 21
Jason an
Appraisers and Counselors
JUL 15 '99 1151 FROM WELD CO TREASURER TO 3520242 PAGE.002/009
Jul-15-99 1O:39A P.04
APPOINTMENT OF AGENT
Pate S/zy/q
TO WHOM IT MAY GONCERIt
aa8W: CansulbtsAsset Valuation.ha
7445 Sat Paicvie w Avenue
byre food.CO a0111
Fat (303)770.2430
Thorax(3O3)7704420
COnsldtus hear.Valuation,Inc.a authorized b represent Hewlett-Packard Company h ptope y
taxvaluation tnats s for 1997-2000.Please confect Consuftas regasd'vg a0 properly tax ismues.
The property bitted below:
Dinien
LARIMER 9"5Z33-06001 $15S V 147"
95233-S001BUILDING E
952334$4)01 CO MEMORY-800 S TAFF
e7333.05001 HARMONY RD
buss° 7322x01.040 VAC-ANT SEE
11 73233-108 GARDEN OF THE GODS
M'Li11 959043000023 712 n"Ay
ARAI+AHtE 207535-3-01-02 24 INVERNESS PL E
40002435732 COWL-Rtl:.Nteig1AL
e _�iera L 47 /99
Date
Ma QeaassstTaxes
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5ithisa*edsndsmen/sabre mythis 115 dayor IA&Arak
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•
PAGE.
JUL 15 '99 10;41
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Stanley F. Sessions
WELD COUNTY ASSESSOR
CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR
APPRAISAL REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
HEWLETT-PACKARD CO
PETITIONER
VS.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0959-04-3-00-025
Schedule Number: R1966586
Log Number: 2542
Date: 8-3-99
Time: 10:00
Board: CBOE
PREPARED BY
STAN JANTZ
I 3-94 --
Signature Date
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
SALIENT FACTS AND CONCLUSIONS
Purpose of Appraisal To determine Market Value as of 1/1/99 based on an
appraisal date of 6/30/98.
Property Rights Appraised Unencumbered fee simple interest.
Location 700 71 AV
GREELEY
Land Area 159.15 ACRES
Zoning GRE IL
Property Type Commercial
1— INDUST MANUFACTURING
1- OFFICE BUILDING
1- EQUIPMENT SHED
1- SERVICE GARAGE
Year Built 1984 THRU 1997
Year Remodeled
Quality
Class
Number of Stories
Improvement Sq. Ft. 317,555
Basement Unfinished Sq. Ft.
Basement Finished Sq. Ft.
Mezzanine:
Value Indications:
Land 722,421
Cost Approach 12,725,281
Market Approach 12,725,281
Income Approach 12,929,000
Reconciled 12,725,281
Final Value 12,725,281
COMPARABLE LAND SALES
# ADDRESS GRANTOR/ DATE PRICE AREA PRICE/
GRANTEE IN ACRE
ACRES
SUBJECT:
700 71 AVE 94.5
GREELEY,CO
1 100 71 AVE HEWLETT-PACKARD/ 1/13/98 850,000 100.23 8,480
GREELEY, CO SCHOOL DISTRICT#6
2 2808 1 AVE CLIFFORD MILLER/ 6/12/98 560,000 82.24 1:,,809
GREELEY, CO STROMO LLC
3 35AVE & 37 ST ANDERS 1 LLC/ 8/25/98 1,650,000 93.84 17,583
EVANS, CO TERRA FIRMA
4 167 50 AVE P.L LUVERNE HERTZKE/ 4/15/94 550,000 93.42 5,887
GREELEY, CO PRO LAND
NOTE: SUBJECT LAND IS PRESENTLY VALUED AT $7,400 PER ACRE
2
WELD COUNTY ASSESSOR
Account#: R1966586 PROPERTY PROFILE Parcel#: 095904300025
MH Seq#: MH Space:
Appr Year: 1999 Levy: 91.113 #of Bldgs: 6 Active On:
Tax Dist: 0600 Map#: 810 LEA: GRLY74 InactiveOn:
Assign To: SGJ Initials: TST Acct Type: Commercial Last Updated: 7/19/99
Owner's Name and Address: Property Address:
HEWLETT-PACKARD CO ,! Street: 712 71 AV I
CORPORATE TAX DEPT M/S 208F City: GREELEY
i
3000 HANOVER ST
PALO ALTO CA 94304
Business/Complex:
Sales Summary
Legal Description
:GR 17383 PT SW4 4 5 66(PARCEL 2)(NORTH SHEEP DRAW ANNEX)LYING WOF FOL DESC LN BEG S89D29'E 2599.3'OF SW COR SEC N05D20'E ^I
628.92'N29D06'E 227.5'TOE LN SW4 N05D49'E918.02'N58D11'W 210'N04D49'E 400.01'N04D49'E 632.18'TO E-W C/L SEC SAIDPT BEING 207.94'W
'OF NE COR SW4 SEC(IMPS ONLY-PIN#1160196)(5.67R 16L)%712 71 AVE%
Land Valuation Summary
Atst Unit of Number Of Value Per Assmt 'Assessed
Code Measure Units Unit Actual Value Percent Value
Land Type Ag Code
Industrial 3112 Acres 94.5 $0.00 $699,300 29.00% $202,797
I Agricultural A IV 4117 Acres 12.81 $239.15 $3,064 29.00% $888
Agricultural B III 4117 Acres 27.64 $386.92 $10,694 29.00% $3,101
Agricultural A III 4117 Acres 24.2 $386.92 $9,363 29.00% $2,715
Land Subtotal: 159.15 $722,421.44 $209,510.00 -
Buildings Valuation Summary
Ab5t Actual Assmt 'Assessed
Bldg # Property Type Code Occupancy Value Percent Value
II 1 Commercial 3215 334 - Indust Lght Manufacturing $9,489,230 0.29 $2,751,877
2 Commercial 3215 334 - Indust Lght Manufacturing $366,520 0.29 $106,291
' 3 Commercial 3215 325- Service Garage $153,510 0.29 $44,518
4 Commercial 3215 344 - Office Building $1,332,800 0.29 $386,512
15 Commercial 3215 401 - Shed - Equipment $43,225 0.29 $12,535
6 Commercial 3215 502 - Other OB $617,575 0.29 $179,097
Improvements Subtotal: $12,002,860.00 $3,480,830.00
Total Property Value $12,725,281 $3,690,340
Tuesday, July 27, 1999 3
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COMPARABLE INDUSTRIAL PROPERTY LEASES
BUILDING
ADDRESS TENANTI AREA LEASED RENTAL RATE
#1 7251 W 4 ST. HEWLETT-PACKARD 47,960 7.75 NNN
GREELEY,CO
#2 1201 CORNERSTONE DR. DELINE BOX 144,293 3.86 NNN
WINDSOR, CO.
#3 9586 I-25 FRONTAGE RD. APPLIED FILMS CORP. 126,245 7.00 NNN
FREDERICK, CC).
#4 6303 DRY CREEK PKWY. CASE LOGIC 158,127 4.95 NNN
LONGMONT, CO.
ESTIMATED INCOME APPROACH
GROSS BUILDING SQ. FT. 31.7,555
NNN LEASE RATE 4.50
INCOME 1,428.997
LESS 5% MANAGEMENT & RESERVES -71,450
NET OPERATING INCOME 1,357,547
CAPITALIZATION RATE 10.5
INCOME VALUE 12,929,019
SUBJECT VALUE ESTIMATED BY THE INCOME APPROACH 12,929,000
M:\WPFU ES\COMMERCL,PR)TESTS\WDCHRT.SGJ
5
CCIMIPS. Summary Report
Monday,August Z 1999
9888 Carroll Centre Rd.Suite 100,San Diego,CA 92126 (619)578-3000 (800)821-1573 Page 1
'Licensed by:ComaItstr
Selection criteria:Market:AD,AP,BD,DC,DV,EP,JF; PropType:IND; SqFt:200000; Recording Date:-6/30/98;
County: Arapahoc,CO COMPS No: APC-50441-04-96 Property Name: DARTMOUTH'INDUSTRIAL PARK
Type: Industrial Year Built: 1975 Property Desc: INDUSTRIAL PARK
Recording Date: 1/19/96 Sale Price: $16,264,100 Address: 3101,3155,3201 S.Platte River Dr.
Square Feet: 680,000 S/SqFt: $23.92 City,State,Zip: Englewood,CO 80110
Units: 0 S/Unit: $0.00 Map Coordinate: 70-G
County: Douglas,CO COMPS No: DGC-54788-10-97 Property Name:
Type: Industrial Year Built: 1979 Property Desc: 3-MULTI TENANT INDUSTRIAL BUILDIN
Recording Date: 6/30/97 Sale Price: $7,700,000 Address: 345 S.Francis Sc.r'
Square Feet: 279,025 S/SqFt: $27.60 City,State,Zip: Longmont,CO 30501
Units: 0 S/Unit: $0.00 Map Coordinate: 74
County: Denver,CO COMPS No: DVC-55108-12-97 Property Name: VALLEY BUSINESS CENTER
Type: Industrial Year Built: 1984 Property Dese: INDUSTRIAL PARK
Recording Date: 9/19/97 Sale Price: $8,720,000 Address: 700 W.Mississippi.Ave.
Square Feet: 259,157 S/SqFt: $33.65 City,State,Zip: Denver,CO 80223
Units: 0 S/Unit: $0.00 Map Coordinate: 70-A
County: Boulder,C:O COMPS No: BDC-53944-07-97 Property Name: STORAGE TEE.
Type: Industrial Year Built: 1982 Property Desc: R&D BUILDING
Recording Date: 5/8/97 Sale Price: $19,000,000 Address: 2345 Clover Basin Dr.
Square Feet: 552,600 S/SqFt: yfria a7!II City,State,Zip: Longmont,CO 80503
Units: 0 S/Unit: $0.00 Map Coordinate: 4-C
County: El Paso,CO COMPS No: EPC-50849-07-96 Property Name: HEWLETT PACKARD/APPLE COMPUTER
Type: Industrial Year Built: 1980 Property Desc: MULTI-TENANT INDUSTRIAL BUILDING
Recording Date: 4/30/96 Sale Price: $7,260,000 Address: 5050-5090 Centennial BI.
Square Feet: 210,000 S/SqFt: $34.57 City,State,Zip: Colorado Springs,CO 80919
Units: 0 S/Unit: $0.00 Map Coordinate: 9-D16
Assessor's Value $12,725,281 ($44.43/SF)
Requested Value $10,000,000 ($35.00/SF)
IXHItIT
R 1 as
The informs=contained he=n his been received from whet are believed to be tellable sources but no guarantee as to its accusacy is expressly or impticidy made by COMPS InfoSynem.Inc..COMPS is a eadenut of COMPS
InfoSystess.Inc Reproduction in any from without the expressed written carman of COMPS InfoSysteno,Inc is pohibited.All rights moved.Copyright 1997 by COMPS lef tp=m.Inc.
NAME: Polymold,Inc.
LOCATION: 4424 Innovation Drive,Fort Collins,CO
DATE OF CONSTRUCTION: 1980
TYPE OF CONSTRUCTION: Pre-cast concrete panels
QUALITY/CONI)mON: Above Average/Average
LAND AREA: 237,837 square feet,or 5.46 acres
GROSS BUILDING AREA: 92.099 square feet,of which 9,000 sq.R(10%)is office space
LAND TO BUILDING RATIO: 2.58:1
GRANTOR: 5KW 11 Real Peale Limited Parmership
GRANTEE: innovation Holdings,LLC
RECORDING INFORMATION: Reception No.98086780.Latimer County,CO
DATE OF SALE: September 30, 1998
SALES PRICE: $3.298,000
CASH EQUIVALENT PRICE: $3,298.000
TERMS: 1"ID:New loan with First National Bank of Fat Collins for
52,424.159
$3S•Xo/4)
- 9 -
r!P-wd
COMPSCOMPSFull Comp Report
* Monday August 2,1999
9888 Caeroll Centre Rd.Suite.100,San Diego,CA 92126 (619)578-3000 (800)821-1573 Licensed by:Consuhas
INDUSTRIAL PARK Industrial $16,264,100 Confirmed
DARTMOUTH INDUSTRIAL PARK APC-50441-04-96 MAP: 70-G
3101,3155,3201 S. Platte River Dr. Issue#4 Parcel#: 1971-33-3-00-026,040,042
Englewood,CO 80110 Area 01 -Arapahoe
BUYER (617)338-4300 SELLER (303) 761-7373
Realty Assoc. Fund III Lmtd Adams-Arapahoe Inv. Co.
Stites Development
45 Milk St. 3151 S. Platte River Dr.
Boston,MA 02109 Englewood, CO 80110
LISTING BROKER (303)371-5800 SELLING BROKER
Colliers,Bennett& Kanweiler, Inc. Unknown
4685 Peoria St.
Denver,CO 80239
Brad W. Calbert
ADDITIONAL CONTACTS VITAL DATA
Recording Date January 19, 1996
Escrow/Under Contract 6-7 months
Market Tune 3 months
Exchange No
Conditions None
Doc#/Trans Tax 0007119 $162.64
INCOME
The seller reported lease rates raged from Sale Price $16,264,100 Confirmed
$2.50-$4.00/sq.ft.NNN with CAMs of apx $0.60/sq.ft. at Down Payment $16,264,100 I00%
time of sale. The property was 100%occupied. One unit is Building SQFT 680,000 Gross
used as a leasing office. PRICE/SQFT $23.92
Office Space N/Av
Floor area ratio .42
Improvement Ratio N/Av
Year Built 1975 AGE 21
Coverage 42%
Parking Spaces/Ratio 533 0.8 per 1000 SF
Power N/Av
Truss Height 22'
Fire Sprinkler Yes
Zoning 1-2, ENGLEWOOD
Acres 36.764
Land Area 1,601,440 SqFt
Price/SQFT Land $10.15 Net N/Av
Lot Dimensions Irregular
Frontage
PRIOR TRANSFER
FINANCING
Not Applicable: all cash sale
COMPS®has obtained the information contained herein from sources which it believes to be reliable.COMPS makes no representation,warranty or gurantee,express or implied,as to the accuracy or reliability of the
information contained herein.Reproduction in any form vithout the expressed written consent of COMPS Infosystems,Inc.is prohibited.All rights reserved.Copyright 1997 by COMPS InioSystems,Inc.
g tx11s1T
•
COMPS Full Comp Report
Monday August 2,1999
•
9888 Carroll Centre Rd.Suite 100,San Diego,CA 92126 (619)578-3000 (800)821-1573 Licensed by:Consultus
3-MULTI TENANT INDUSTRIAL BUILDINGS industrial $7,700,000 Confirmed
DGC-54788-10-97 MAP: 7-J
345 S. Francis St. * Issue#10 Parcel#: 1315090-05-003
Longmont, CO 80501 Area 01 - Douglas
BUYER (303)220-0900 SELLER (303)442-4083
TC Longmont Warehouse,Ltd. 345 Partnership
Dan Bess Richard R. Wilson
7535 E.Hampden Ave. #650 4599 N. Broadway
Denver,CO 80231 Boulder, CO 80304
LISTING BROKER (303)813-6400 SELLING BROKER
Cushman& Wakefield In-house brokerage
1670 Broadway#3400
Denver,CO 80202
Bill Conway
ADDITIONAL CONTACTS VITAL DATA
4-D Partnership Additional Recording Date June 30, 1997
Seller (303)442-4083 Escrow/Under Contract Apx135days
Market Time Apx480days
Exchange No
Conditions None
Doc#/Trans Tax 1710526 $770.00
INCOME
The buyer reported there was 120,000 SF vacant at time of Sale Price $7,700,000 Confirmed
sale. He reported lease rates ranged from$3.30-$5.75/SF Down Payment $1,800,000 23%
NNN. The buyer also reported asking lease rate at Building SQFT 279,025
$5.50-$8.50/SF NNN. PRICE/SQFT $27.60
Office Space 20%
Floor area ratio .41
Improvement Ratio 85%
Year Built 1979 AGE 18
Coverage N/Av
Parking Spaces/Ratio N/Av N/Av
Power 3 Phase
Truss Height 16-24'
Fire Sprinkler Yes
Zoning RI, LONGMONT
Acres 15.75
Land Area 686,069 SqFt
Price/SQFT Land $11.22 Net $1.68
Lot Dimensions 471'x 605'(Apx)x 716' x 561'
Frontage
PRIOR TRANSFER
FINANCING
TD'sLender Balance Payment
1 Bank One $5,900,000
2
COMPS.has obtained the information wntained herein from sources which it believes to be reliable.COMPS makes no representation,warranty or gurantee,express or implied,as to the accuracy or reliability of the
information contained herein.Reproduction in any form xiNout the expressed written consent of COMPS InfoSystems.Inc.is prohibited.All nghts reserved.Copyright 1997 by COMPS InfoSystems,Inc.
•
C Full Comp Report
+��� Monday August 1,1999
9888 Carroll Centre Rd.Suite 100,San Diego,CA 92126 (619)578-3000 (800)821-1573 Licensed by:Consultus
INDUSTRIAL PARK Industrial $8,720,000 Full Value
VALLEY BUSINESS CENTER DVC-55108-12-97 MAP: 70-A
700 W. Mississippi Ave. Issue#12 Parcel#:5224-00-027,028
Denver, CO 80223 Area 01 - Denver
BUYER (415)343-9300 SELLER (410) 547-2308
Glenborough Properties, L.P. T. Rowe Price Renaissance Fund,Ltd.
400 S. El Camino Real 100 E. Pratt St.
San Mateo,CA 94402 Baltimore,MD 21202
LISTING BROKER SELLING BROKER
Unknown Unknown
ADDITIONAL CONTACTS VITAL DATA
Ray Plat Leasing Agent Recording Date September 19, 1997
(303)628-7400 Escrow/Under Contract N/Av
Market Time N/Av
Exchange No
Conditions Bulk Purchase
INCOME Doc#/Trans Tax 0125586 $872.00
The leasing agent reported lease rates at $5.25-$6.50/SF. Sale Price $8,720,000 Full Value
He reported 13,862 SF vacant at time of confirmation. We Down Payment $8,720,000 100%
were unable to verify any further income information. Building SQFT 259,157 Gross
PRICE/SQFT $33.65
Office Space N/Av
Floor area ratio .86
Improvement Ratio 76%
Year Built 1984 AGE 13
Coverage 86%
Parking Spaces/Ratio 250 1.0 per 1000 SF
Power N/Av
Truss Height N/Av
Fire Sprinkler N/Av
Zoning I2, DENVER
Acres 6.88
Land Area 299,693 SqFt
Price/SQFT Land $29.09 Net $6.98
Lot Dimensions Irregular
Frontage
PRIOR TRANSFER
FINANCING
Not Applicable: all cash sale
COMPS®has obtained the information contained herein from source which it believes to be reliable.COMPS makes no representation,warranty or gurantee,express or implied,as to the accuracy or reliability of the
information contained herein.Reproduction in any form without the expressed written consent of COMPS InfoSystems,Inc.is prohibited.All rights reserved.Copyright 1997 by COMPS Infosystems,Inc.
Full Comp Report
�0���' Monday August 2,1999
9888 Carroll Centre Rd.Suite 100,San Diego,CA 92126 (619)578-3000 (800)821-1573 Licensed by:Consultus
R&D BUILDING Industrial $19,000,000 Confirmed
STORAGE TEK BDC-53944-07-97 MAP: 4-C
2345 Clover Basin Dr. Issue#7 Parcel#: 1315170-00-034
Longmont,CO 80503 Area 01 -Boulder
BUYER (714) 833-3030 SELLER (303)673-3832
K/B Fund IV Storage Technology Corporation
Paula Gault-Koll R.E. Group Axle Russell
4343 Von Karman Ave.#100 2270 S. 88th St.
Newport Beach,CA 92660 Louisville,CO 80028
LISTING BROKER SELLING BROKER
None involved per principal None involved per principal
ADDITIONAL CONTACTS VITAL DATA
Jim Reed Property Manager Rick Trek Leasing Agent Recording Date May 8, 1997
(303)776-6169 (303)292-3700 Escrow/Under Contract 60 days
Market Time 365 days
Exchange No
Conditions Bulk Purchase
Doc#/Trans Tax 1696998 $1,900.00
INCOME
The property was 100%occupied by the seller at time of Sale Price $19,000,000 Confirmed
sale. The leasing agent reportec.that the seller will continue Down Payment $19,000,000 100%
to occupy 15,000 SF of building area as a tenant. The Building SQFT 552,600 Gross
seller's space was described as'lab area'and the lease rate PRICE/SQFT $34.38
was reported at$5.00/SF NNN n addition to CAM Office Space 43%
reimbursements. The seller signed a 10-year lease. A CAM Floor area ratio .09
reimbursal figure was not available. The remainder of the Improvement Ratio 75%
space is being marketed for lease as follows: Warehouse at Year Built 1982 AGE 15
$4.75/SF NNN; R&D space at$7/SF NNN;Office at Coverage 9%
$11-$12/SF NNN. Expense information for the property Parking Spaces/Ratio N/Av N/Av
was not available. Power N/Av
Truss Height N/Av
Fire Sprinkler N/Av
Zoning MIU, LONGMONT
Acres 139.69
Land Area 6,084,896 SqFt
Price/SQFT Land $3.12 Net $.78
Lot Dimensions Irregular
Frontage
PRIOR TRANSFER
FINANCING
Not Applicable: all cash sale
COMPS®has obtained the information contained herein from sources which it believes to be reliable.COMPS makes no representation,warranty or gurantee.express or implied,as to the accuracy or reliability of the
information contained herein.Reproduction in any form without the expressed written comes,of COMPS InfoSystems.Inc.is prohibited.All rights reserve.Copyright 1997 by COMPS InfoSystems,Inc.
Full Comp Report
COMPS' Monday August 2,1999
9888 Carroll Centre Rd.Suite 100,San Diego,CA 92126 (619)578-3000 (800)821-1573 Licensed by:Consultus
MULTI-TENANT INDUSTRIAL BUILDING Industrial $7,260,000 Confirmed
HEWLETT PACKARD/APPLE COMPUTER EPC-50849-07-96 MAP: 9-D16
5050-5090 Centennial BI. Issue#7 Parcel#:73233-01-001,002,015
Colorado Springs,CO 80919 Area 01 -El Paso
BUYER (303) 333-1215 SELLER (303)579-9909
Centennial Realty Partners LLP Provident Life Accident Ins. Co.
Stuart G. Rifkin
360 S. Monroe St. #600 1720 S.Bellaire#904
Denver, CO 80209 Denver,CO 80222
LISTING BROKER (719)442-2000 SELLING BROKER (303)292-3700
Bach Commercial Brokerage Group Fuller& Company
2 N. Cascade#680 1515 Arapahoe#1600
Colorado Springs,CO 80903 Denver,CO 80202
Steven Bach Art Seiden
ADDITIONAL CONTACTS VITAL DATA
Recording Date April 30, 1996
Escrow/Under Contract 4 months
Market Time 15 months
Exchange No
Conditions None
Doc#/Trans Tax 0051574 $726.00
INCOME
The selling broker reported GSI for the 135,000 SF Sale Price $7,260,000 Con firmed
occupied by Hewlett Packard for 1996 at $634,500 NNN. Down Payment $1,902,000 26%
He reported the NNN lease rate for the remaining 75,000 SF Building SQFT 210,000 Net
occupied by Apple Computer was$3.50/SF with$0.25 PRICE/SQFT $34.57
escalations over 5 years. The property is 100%occupied by Office Space N/Av
the 2 tenants. (See reverse) Floor area ratio .32
Improvement Ratio 74%
Year Built 1980 AGE 16
Coverage 32%
Parking Spaces/Ratio 750 3.6 per 1000 SF
GROSS SCHEDULED INCON:E $897,000 Power 1,200 A,480 V, 3 Phase
Vacancy 5% ($44,850) Truss Height I 8'-22'
Fire Sprinkler Yes
GROSS OPERATING INCOME $852,150 Zoning PIP2,COLORADO SPRNGS
Property Tax=N/A $0 Acres 15.00
$42,608 Land Area 653,400 SqFt
Other Expenses
Price/SQFT Land $11.11 Net $2.88
TOTAL EXPENSES 5% ($42,608) Lot Dimensions Irregular
Per Unit$0 SqFt $0.20 Frontage
NET ANNUAL INCOME $809,542 PRIOR TRANSFER
CAP RATE 11.15%
FINANCING
TD'sLender Balance Payment
1 American Nat'l Ins. Co. 915,358,000
2 Due 05/01/2016
COMPS®has obtained the information contained herein from sources which it believe to be reliable.COMPS makes no representation,wammy or gurantee,express or implied,as to the accuracy or reliability of the
information contained herein.Reproduction in any form without the expressed written consent of COMPS In65ystems,Inc.is prohibited.All rights reserved.Copyright 1997 by COMPS InfoSystems,Inc.
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