Fraser Business Park Office Condo
Scott and Steve of Advisor Commercial Realty LLC (“ACR”) were retained by Abbie Koenig in 2014 to acquire an office condo to house a clinical office for Colorado Autism Consultants (“CAC”). They were excited to work with a company that provides such a valuable service to our community. They interviewed Abbie to clarify the type of property and location that would best meet her business needs. They researched the market, located viable options, and toured those that Abbie determined to be the most suitable. ACR also recommended that Abbie and her husband Kris create a limited liability company to own the property and lease it back to CAC, which they did. A 1,442 square foot office condo at 2224 S. Fraser St. was acquired as CAC’s first office in early 2015 for a price of $134,000.00.
The clinic succeeded and grew until by early 2018 their space was at full capacity. Abbie then contacted ACR again to locate a larger facility. During our programming discussion, Scott asked if Abbie had considered a 1031 reverse exchange for the Fraser office. She ran it by her CPA and determined to pursue our recommendation. ACR located a new larger facility as the first leg of the exchange and KAK acquired it to house CAC’s expanding operations. ACR listed and then sold Unit 6 at 2224 S. Fraser St. in June of 2019 for a price of $250,000.00 as the second leg to the exchange, enabling KAK to fund a portion of its purchase and associated remodel from the proceeds of the sale with minimal tax ramifications.