Lagunitas | Redtail Project

REDTAIL PONDS OFFICE CAMPUS

Project Description

	Redtail Ponds Office Campus is located 2 blocks west of South College Avenue and Cameron Drive, planned to include four office buildings, three with 18,268 square feet and one with 15,664 square feet for a total of 70,468 square feet. All four buildings will have elevators, under-building parking, adjacent parking, nine foot ceilings, stunning mountain, ponds and open space views, three levels of new A+ office space with the premium third floor suites having large decks. All buildings are designed and will be constructed with “green” materials and will be engineered for high-energy efficiency. One building is approved for a small coffee-sandwich shop. The project is located in Fort Collins on South College Avenue just south of Harmony Road. It has safe access with a signalized intersection at the entrance off College Avenue, minutes away from shopping, restaurants and downtown Fort Collins. It is in a quiet location set back from College Avenue and it has easy access to I-25, Loveland, Windsor, Greeley and Denver. The office buildings will overlook three ponds to the east and enjoy mountain views to the west over large acreage horse properties. The project has 79% private natural area (about five acres) with ponds and trails and is adjacent to the 38-acre Redtail Natural Area to the south. It is adjacent to both the Fossil Creek east-west bike/pedestrian trail and the Mason Street north-south bike/pedestrian trail. A north-south rapid transit system, which will link the Redtail Ponds Project with downtown Fort Collins, is in the process of engineering and construction. The City of Fort Collins has received $68 million of federal and state money to build this transit system. The southern transit terminal will be located just two blocks from the office campus.

Ownership and Project Status

	Lagunitas Diversified Projects, LLC holds fee simple ownership to the property. Project has been approved, and the Redtail Ponds Office Campus is being developed presently. Offices will be aggressively and creatively marketed and sold by our marketing-sales team. Development of Redtail Townhomes is planned in year two.

Product

	Office buildings, 15,664 to 18,268 square feet each, which can be sold as entire buildings or in condo suites from 3044 to 6089 square feet, in a campus setting with ponds, open space and mountain views.

Market

	Office owner-users and investors who want green-built, LEED certified, energy-efficient, A+ office buildings or condo office suites in a unique office campus setting.

Plan

	Site is presently under development, after which construction of office buildings will start. Our marketing team, which includes Lagunitas Company, A-Train Communications and Realtec, is finalizing our marketing plan and starting presales. We will build a maximum of one spec building at any one time. The project will be build out as absorption permits.

Schedule

	Redtail Ponds is projected to be a three-year project. Development started in December 2006 and should be completed by the end of July, after which we will break ground for construction of the first office building.