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BROOMFIELD, COLO. — Tepuy Properties, a real estate syndicator and property management company, has purchased its second asset in Broomfield. The company acquired a single-story industrial building located at 1 Park St. for $1.7 million.
Tepuy plans to spend more than $1 million on repairs and improvements at the 26,400-square-foot property, which was built in 1986 and suffered years of neglect due to bankruptcy and lien proceedings. At the time of sale, the property was 54 percent vacant with Shoot Indoors, a public gun range, as the sole tenant.
Eric Rutherford of WK Real Estate represented Tepuy, while Joe Krahn of Cushman & Wakefield represented the seller in the deal.