The town of Erie has acquired 255 acres of land at the gateway to the town in a $6.35 million transaction.
The land is located at the northwest corner of Interstate 25 and Erie Parkway in Weld County.
“This property is one of the most visible interstate highway corners in the northern metro submarket and located at the front door of Erie, making the town of Erie a natural fit to acquire the land,” said Eric Roth, senior vice president with CBRE Land Services in Denver. “It was a short time frame to meet the seller’s transaction goals, so we were pleased to see the buyer perform under such a quick timeline at the end of the year,” said Roth, who represented the seller, Erie Ventures LLC, with CBRE’s Martin Roth.
The town believes the site could spur a mixed-use employment center with community retail, entertainment uses, hospitality and diverse residential product, according to Erie Economic Development Manager Ben Pratt.
“Erie’s East Gateway serves as the portal to the community for Erie residents, work commuters and daytime visitors. With more people moving to the suburbs north of Denver in search of better job opportunities, affordability and quality of life, coupled with the steady increase of traffic along the I-25 corridor, the town of Erie looks to establish an identity beyond a bedroom community, and we view the acquisition of these 255 acres as the first step,” Pratt said.