November 5-November 18, 2014 —
COLORADO REAL ESTATE JOURNAL
— Page 13
Boulder County & U.S. 36 Corridor
by Jill Jamieson-Nichols
Lowe Enterprises Investors, a
national company best known
in Colorado as an owner of
office buildings and hotels, paid
$44.2 million for an apartment
community in Boulder, accord-
ing to public records.
The acquisition of The Boul-
ders, a 161-unit community at
2850 Kalmia St. in north Boul-
der, is part of Lowe’s strategy to
expand its multifamily portfo-
lio in select markets across the
country, particularly in the West
and Pacific Northwest. The
company acquired the property
in a joint venture with an invest-
ment client.
Lowe Enterprises Investors plans to continue upgrades at The Boulders
apartment community.
by Jill Jamieson-Nichols
A biomedical/research-and-
development building on the
U.S. Highway 36 corridor sold
to a New York family invest-
ment group for $25.15 million, or
$155.58 per square foot.
Oracle and GlobeImmune
occupy the bulk of the 161,655-
sf building, which is located on
20.31 acres at 1450 Infinite Drive
in Louisville. The two- and
three-story building was 95 per-
cent leased, according to Becky
Callan Gamble of Dean Callan &
Co., who rep-
resented the
buyer, 1450
Infinite Drive
LLC.
I n f i n i t e
F u n d i n g
C o m p a n y
LLC was the
seller.
There were
a
dozen
offers for the
property, according to Patrick
Devereaux of JLL, who listed it
with JLL’s Jason Schmidt and
handled the transaction in coop-
eration with JLL leasing brokers
of Michael Crane and Don Mis-
ner.
“It’s a very specialized asset
for Denver in
general. There
are probably
less than 10
of these facili-
ties in metro
Denver,” said
Devereaux .
“There’s
a
specific ten-
ant niche for
this asset, and
they don’t have a lot of options
in the marketplace.”
The building offers a com-
bination of Class A office, lab,
clean room and computer room
space; an auditorium/cafeteria
with 20-foot ceilings; abundant
parking; controlled access; 24/7
security; conference and meet-
ing rooms; an exercise facility
with showers and lockers; and
monument and building sig-
nage.
“It’s an asset that’s going to
provide very secure, long-term
cash flow for the buyer, and
they recognized that because
of the specialized nature of the
asset and the specific type of
tenants that it caters to,” said
Devereaux. In addition to the
two large tenants, there are
three other, biomedical, tenants
in the building.
The building was constructed
in 1996. It is located off High-
way 36 and West McCaslin
Boulevard, which offers a host
of restaurants, hotels and other
amenities.
s
GlobeImmune is a major tenant at 1450 Infinite Drive in Louisville.
Becky Callan
Gamble
Patrick Devereaux
by Jill Jamieson-Nichols
Investors looking to diversify
their local real estate portfolio
purchased a shadow-anchored
retail center in Superior.
Rock Creek Village, a
17,505-square-foot shopping cen-
ter at 1611-1631 Coalton Road,
sold for $3.33 million, or $189.95
per sf.
Shadow-anchored by Safeway,
Rock Creek Village was approxi-
mately 91 percent leased at the
time of the sale to tenants includ-
ing Delvickios Incredible Italian,
Doug’s Day Diner, Pizza Hut
and Great Clips.
Rock Creek Village RLLP, a
group of local investors com-
ing together to complete 1031
exchanges after selling a couple
of land parcels in Glendale and
Arapahoe County, bought the
retail property from Rock Creek
Village LLC, a group of Boulder
investors.
“Our group of investors has a
lot of experience with purchasing
Rock Creek Village is shadow-anchored by Safeway.
