Poudre Bay, in partnership with Waypoint Real Estate, acquired 1720 Balsam Avenue  in January, 2023.  The property consists of two industrial buildings on a 2.3-acre lot.  Building 1 is 5,696 SF and building 2 is 6,000 SF.  The Property is in Greeley, CO along the major industrial corridor of US Highway 85.  Greeley is well positioned as it is the largest city in Weld County, which is the major industrial, agricultural, and oil and gas County in Colorado, which drives industrial real estate demand.  The  Greeley, CO MSA is also consistently one of the fastest growing MSA’s in the nation and is the fastest growing MSA in Colorado.

Poudre Bay and Waypoint acquired the property with the 6,000 SF building vacant and the 5,696 SF building leased.  Poudre Bay/Waypoint added value by immediately leasing the vacant building to an industrial tenant on a long-term lease.  Future plans are to perform building and site improvements and to continue to improve rents as the legacy leases expire.    The asset is now being held for investment.