Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1449 South Public Road in Lafayette, Colorado. The subject property consists of approximately 1.99 acres of land zoned for general commercial, industrial, and retail use. The asset features 473’ of frontage along South Public Road between Courtney Way and Ferguson Circle. Sitting adjacent to State Highway 287, the property has access to the thoroughfare’s 39,000 vehicles per day. Primely located in the Boulder County Submarket, the property is about 12 miles East of Downtown Boulder and 21 miles North of Downtown Denver.
Boulder County is a mid-size submarket containing 11.9 million square feet of industrial space. In 2023, 8.0 percent of industrial space was vacant, asking rents increased by 4.1 percent, and 70,000 square feet were under construction at the start of the new year, representing less than 1.0 percent of inventory. Retail accounts for the second largest commercial market with 8 million square feet, 7.1 percent of which was available last year. Asking rent growth increased by 4.9 percent, helping to encourage 225,000 square feet of construction activity in early 2024 (2.8 percent of inventory). Boulder County’s office market maintains 4.6 million square feet of inventory with no properties underway. Office asking rents stretched another 2.5 percent in 2023 as the vacancy rate touched 11.1 percent (CoStar).
Denver-Aurora-Lakewood metro is home to three million people among 10 counties. Known as the Mile High City, Denver, which is also a county, serves as the state’s capitol and largest city, with approximately 742,800 residents. Metro Denver houses 10 Fortune 500 companies, including Newmont Goldcorp, Arrow Electronics, and DISH Network. Aerospace, financial services, and health care are some of the industries that have driven economic growth in the new millennium. The passage of Amendment 64 in November 2012, created a new industry in marijuana, largely consisting of young thriving businesses. Metro Denver provides a high quality of life with rural and urban amenities. Rocky Mountain National Park is less than two hours driving from the metro area, and the city houses franchises for all four major sports.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0050106)
