MAVD News: 2007

The Coloradoan

February 2007

MAVD West, LLC purchases 105 acres in Northern Colorado

By JULIETTE FARDULIS
For the Coloradoan

MAVD West, LLC has purchased 105 acres that were part of Hewlett-Packard's Harmony campus and plans to develop the land into sites for technical and professional businesses. The $14 million purchase was land that HP owned for 20 years and had planned to use for expansion.

Larry Stroud of Realtec in Fort Collins served as both the listing and selling agent and said there's been a demand for larger tracts of land.

"It's an opportunity we haven't had for a number of years," he said. "In economic development circles, we receive requests for land parcels that we haven't been able to grant."

David May, president and CEO of the Fort Collins Area Chamber of Commerce, said the news is "an exciting development." "There's long been speculation as to what HP would eventually do with this land. It is great to see it now brought into development as a major employment center," May said.

The new development will be named the Harmony Technology Park. The land is zoned for office, technology and light manufacturer uses and is considered development ready with all utilities in service. Formal development plans for the land have not been submitted to the city.

The Harmony Technology Park is located a half mile from Interstate 25 and sits across the road from Hewlett Packard's Corporate Campus. Intel, AMD, Poudre Valley Health System's Harmony Campus and several new retail developments are nearby.

The new development will offer an upscale business environment with parklike amenities, including native Colorado landscape materials, pedestrian paths, outdoor plazas and seating areas.

"We believe this is one of the finest sites in Northern Colorado," Rob Aldrich, MAVD president, said in a news release. "Fort Collins' quality of life (named Money Magazine's 2006 Best Place to Live), skilled labor pool and home to CSU make this a great location for new and existing businesses."

MAVD West, LLC is the Colorado subsidiary of Ann Arbor, Mich.-based MAVDevelopment Company. Founded in 1989, the company is an investor and developer of institutional-grade office properties and land development ventures in and surrounding Ann Arbor and recently Colorado's Front Range. MAVD's current holdings and development projects including 2,000,000 square feet of space valued at more than $500 million. The company has been investing in the Lower Downtown area of Denver as well as Fort Collins projects.

"We looked at several markets across the country and determined that the Northern Front Range of Colorado, from Denver to Fort Collins, offers excellent long-term investment prospects," Aldrich said.

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