Overview
Marcus & Millichap is pleased to present the exclusive listing of Ledge Rock Apartments (“The Property”), a 252-unit multifamily community located within Ledge Rock Center, a 200-acre mixed-use community on the southeast corner of Interstate 25 and State Highway 60 in Johnstown.
The selected site at the Northern Colorado Corridor is undergoing a dramatic transformation. Johnstown and Northern Colorado continue to see tremendous growth, while surrounding markets have limited interchange opportunities left to offer, making this a prime location for development. Ledge Rock Center will contain 160 new single residences, over 1-million square feet of retail space and 1,200 new apartments. In addition, there are three new state-of-the-art schools and 3,200 new residents within two miles.
Investment Highlights
Brand New Master-Planned Community
Ledge Rock Apartments offers a new investor the opportunity to acquire 252 newly constructed units located in the center of a brand-new, 200-acre master planned community known as Ledge Rock Center. Already in the midst of unprecedented growth, Johnstown will continue to grow rapidly and has already attracted both private and institutional investors due to Johnstown’s affluent area demographics and high propensity for brisk and sustained growth.
The Ledge Rock Center and surrounding areas will offer residents first-of-their kind amenities in Johnstown and along the North I-25 corridor.
The Path of Development
The spillover from Denver and Fort Collins, as well as Johnstown’s central location and proximity to highly-educated professionals, has accelerated development in Johnstown and along the north I-25 corridor.
- Population of Larimer and Weld Counties is Expected to Increase by 45 Percent or More by 2030
- Between 2010 and 2020, the Population of Larimer and Weld Counties Grew by 24.5 Percent
- The Average Sale Price of Homes in Johnstown has Grown by over 47 Percent Since 2017, with Most of that Appreciation Occurring in the Last Two Years
Seamless Access to Employment Hubs
Denver
50 Minutes / 45.3 Miles
# of Employees: 429,431
Proj. 10-yr. Job Growth: 45%
Fort Collins
32 Minutes / 25.7 Miles
# of Employees: 100,927
Proj. 10-yr. Job Growth: 51.8%
Loveland
19 Minutes / 12.4 Miles
# of Employees: 46,036
Proj. 10-yr. Job Growth: 52.1%
Longmont
29 Minutes / 21.7 Miles
# of Employees: 56,591
Proj. 10-yr. Job Growth: 44%
Strong Performing Northern Colorado Market
Population: 23,410
Median Household Income: $99,540
Average Concession Offered: 0.24% of Gross Rent
T-12 Absorption: 1,392 Units - Highest Level in Two Years
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