ERIE — The $6.37-million purchase of a 255-acre private property by Erie was finalized in late December.
Town leaders approved funding for acquisition of the vacant land near the intersection of Erie Parkway and Interstate 25 in October in hopes of spurring economic development in the area. That plan aims to “create a regionally-scaled retail and employment center at Erie’s eastern gateway servicing the Northern Colorado marketplace,” according to town documents.“The overarching goal is to better position the town to implement the I-25 master plan,” Erie economic-development manager Ben Pratt said at the time.
The seller was Erie Ventures LLC, represented by Eric Roth and Martin Roth with CBRE’s Land Services in Denver.
“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,” Eric Roth said in a prepared statement. “It was a short timeframe 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.”