• Tue. Apr 20th, 2021

Gunbarrel a hotspot for early 2021 Boulder County commercial real estate deals

The new year has seen a slew of commercial real estate transactions in Boulder County, with many of the larger deals — worth $10 million or more — centered around Boulder’s Gunbarrel neighborhood.

Alaska-based Denali Commercial Management Inc. was involved in a pair of recent deals in the area with BFP 2020 Owner LLC, an entity registered to the Glendale address of Westside Property Investment Co.

Denali, through holding company Winchester LLC, sold a trio of Winchester Circle office spaces totaling about 113,000 square feet. Tenants include medical-device company Encision Inc. (PK: ECIA).

The same seller, this time through affiliate Pioneer Square Shopping Center LLC, also offloaded a roughly 71,500-square foot office campus at 4699 Nautilus Court in the Twin Lakes Business Park to Westside. Asher Brewing Co. is among the Nautilus Court tenants.

Nearby, two well-known commercial real estate investors and developers traded properties on Lookout Road.

Point II LLC, an entity registered to Chris Rebich of the O’Connor Group, sold the offices at 6400 Lookout Road and the adjacent 6325 Gunpark Drive, to Tebo-OConnor LLC, a holding company registered to the address of Boulder-based Tebo Properties Inc., a major Boulder County landlord and developer, for $18.5 million.

The properties, built in the 1990s, total just more than 100,000 square feet, and notable tenants include Simply Delicious Inc., which does business as Bobo’s.
To the southwest of Gunbarrel, Graham Street Realty, through holding company GSR 2890 Wilderness LLC, sold a nearly 30,000-square-foot flex space to a New York-based entity called NR MOB 2945 Wilderness Place LLC for just more than $12.5 million.

The two-story building includes office and lab space and is entirely leased to blood-protein testmaker SomaLogic Inc.

“The Boulder submarket continues to see high demand for office space and is home to new and expanding companies in the technology, business service, and consumer products industries,” Graham Street said in a news release announcing the sale. “The team was able to capitalize on the strong demand for life sciences office spaces, despite a more challenging economic environment as a result of the coronavirus pandemic.”

Boulder, of course, isn’t the only city in the area to record major real estate deals in recent weeks.

In Longmont, two familiar players traded a roughly 58,000-square-foot flex building at 1351 S. Sunset St. at The Campus at Longmont business park for nearly $10.3 million.

The property is home to Front Range Community College’s Advanced Technology Center, GCC Longmont Holdings LP, an affiliate of Canadian real estate and private-equity firm  Balfour Pacific Capital Inc., sold the building to Chernoff Boulder Properties holding company CB 1351 Sunset LLC.

Both parties have been active in the Longmont market.

Balfour made a splash in 2017 when it bought 27 commercial buildings in The Campus at Longmont for $69.6 million. Chernoff’s past 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 a year earlier.

Not all the major Boulder County real estate deals over the recent weeks involved office or lab spaces.

In Lafayette, Baseline Apartments LLC offloaded the Baseline Village rental community to Baseline Village – SPT LLC, an affiliate of San Pasqual Fiduciary Trust Co. in California.

The 35-unit townhome community, built in 2019, fetched $12.5 million.

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