Gunbarrel a hotspot for early 2021 Boulder County commercial real estate deals
There were a number of commercial real estate deals in Boulder County in the New Year, with many of the larger deals – valued at $ 10 million or more – centered in Boulder’s Gunbarrel neighborhood.
Alaska-based Denali Commercial Management Inc. was involved in two recent deals in the area with BFP 2020 Owner LLC, a company registered at the Glendale address of Westside Property Investment Co.
Denali sold a trio of Winchester Circle office space totaling approximately 113,000 square feet through the holding company Winchester LLC. The tenants include the medical device company Encision Inc. (PK: ECIA).
The same seller, this time through the subsidiary Pioneer Square Shopping Center LLC, also unloaded a roughly 71,500 square meter office campus at 4699 Nautilus Court in the Twin Lakes Business Park on Westside. Asher Brewing Co. is one of the tenants of Nautilus Court.
Nearby, two well-known commercial property investors and developers traded properties on Lookout Road.
Point II LLC, a company registered with Chris Rebich by the O’Connor Group, sold the offices at 6400 Lookout Road and adjacent 6325 Gunpark Drive to Tebo-OConnor LLC, a holding company registered at Tebo Properties in Boulder is Inc., a major landlord and developer in Boulder County for $ 18.5 million.
The properties built in the 1990s have a total area of just more than 100,000 square meters. Notable tenants include Simply Delicious Inc., which operates as Bobo’s.
In the southwest of Gunbarrel, Graham Street Realty, through the holding company GSR 2890 Wilderness LLC, sold a 30,000-square-foot Flex room for just more than $ 12.5 million to a New York-based company called NR MOB 2945 Wilderness Place LLC.
The two-story building includes office and laboratory space and is fully let to the blood protein test manufacturer SomaLogic Inc.
“The Boulder submarket continues to experience high demand for office space and is home to new and expanding companies in the technology, business services and consumer goods sectors,” said Graham Street in a press release announcing the sale. “The team benefited from strong demand for life science office space despite the difficult economic environment resulting from the coronavirus pandemic.”
Of course, Boulder isn’t the only town in the area that has closed major real estate deals in the past few weeks.
In Longmont, two well-known players traded a nearly 58,000 square foot Flex building at 1351 S. Sunset St. on the Longmont Business Park campus for nearly $ 10.3 million.
The property is home to the Front Range Community College’s Advanced Technology Center. GCC Longmont Holdings LP, a subsidiary of the Canadian real estate and private equity firm Balfour Pacific Capital Inc., sold the building to the CB 1351 Sunset LLC holding company of Chernoff Boulder Properties.
Both parties were active in the Longmont market.
Balfour made a splash in 2017 when it bought 27 commercial buildings on the Longmont campus for $ 69.6 million. Chernoff’s previous Longmont deals include the purchase of a trio of nearby buildings – 1960 Ken Pratt Blvd., 1860 Industrial Circle, and 1880 Industrial Circle – for 4.4 million the previous year.
Not all of the major real estate deals in Boulder County in the past few weeks have been in offices or laboratories.
In Lafayette, Baseline Apartments LLC has outsourced the Baseline Village rental community to Baseline Village – SPT LLC, a subsidiary of the San Pasqual Fiduciary Trust Co. of California.
The 35-unit residential community, built in 2019, raised $ 12.5 million.
© 2021 BizWest Media LLC