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This project includes five fully developed office pads in Fossil Creek Office Park, located three blocks south of Harmony Road off College Avenue, in Fort Collins, Colorado.

It is a successful office park, which our company planned, received approvals for and has built out with the exception of these five office pads. It is covenant-controlled, with an Office Owner Association handling all management and maintenance. Strict design, signage and parking requirements are in place, as well as the usual covenant provisions.

All five lots will accommodate office buildings of 6,200 square feet. Each office building is designed to be sold as an entire building, or as up to four office condominiums.

Project Description and Product
This project includes five fully developed office pads in Fossil Creek Office Park, located three blocks south of Harmony Road off College Avenue, in Fort Collins, Colorado.

It is a successful office park, which our company planned, received approvals for and has built out with the exception of these five office pads. It is covenant-controlled, with an Office Owner Association handling all management and maintenance. Strict design, signage and parking requirements are in place, as well as the usual covenant provisions.

All five lots will accommodate office buildings of 6,200 square feet. Each office building is designed to be sold as an entire building, or as up to four office condominiums.

Ownership and Project Status
Lagunitas Fossil Creek, Inc. holds fee simple ownership to the property. The project’s status is that four of the nine approved office buildings have been constructed and sold, while the remaining five are being aggressively and creatively marketed and sold by our marketing-sales team.

Market
The primary market is office owner-users who wish to own their own office and build equity instead of renting. Historically investors have been a secondary market. Promontory Office Park is four blocks from Harmony Road, the major city entry arterial, which provides easy access to I-25, Loveland, Windsor, Greeley and Denver.

Plan
Our plan is to build and sell office buildings on each of these lots. We historically have pre-sold at least half of a building before starting construction.
Because we have constructed 16 office buildings over the last seven years, we are able to build an office building very quickly, in about four months from contract signing.

Schedule
Our schedule is to have our marketing-sales team continue to aggressively and creatively market and sell these offices. Our goal is to complete this project within three years or less.

© 2009 Lagunitas Companies, Inc. All rights researved.