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Page 12 — COLORADO REAL ESTATE JOURNAL — February 18-March 3, 2015
Boulder County & U.S. 36 Corridor
by Jill Jamieson-Nichols
A partnership controlled by
Boulder-based Freeman Capital
Management has acquired an
industrial building in the Colo-
rado Tech Center with plans
to spend more than $1 million
improving the property.
The group paid $3.8 mil-
lion for the 74,000-square-foot
building at 740 S. Pierce Ave.
in Louisville. The building was
just over 75 percent leased at
the time of closing to three ten-
ants: Kryptane Systems, The
Hanson Group and Great Tran-
go Holdings. Turbo-K LLC was
the seller.
“The seller had owned it for a
long time and I think was ready
to move on. This fit really well
into my industrial management
portfolio,” said Andrew Free-
man of Freeman Capital Man-
agement and managing broker
of Freeman Myre Inc.
“It’s a good building. It just
needs some work to fix it up,”
he said. Improvements will
include new front entrances,
and roof, parking lot, window
and landscaping upgrades.
“It will be a real nice flex/
industrial building once we
complete the improvements,”
Freeman said. Between 40,000
and 50,000 sf of space is avail-
able.
The two-story building, locat-
ed near the south entrance to
the tech center, offers 18-foot
ceiling clearance and dock-high
loading.
Other News
n Whittier Square LLC, led
by Dan Hendrick of Irwin &
Hendrick, paid $3.4 million
for the Whittier Square Office
building at 2299 Pearl St. in
Boulder. Hendrick has owned
and occupied the property
with a partner for 20 years and
acquired his partner’s interest
in the 24,100-sf building.
The four-story multitenant
building is approximately 95
percent occupied.
n The Village at the Peaks in
Longmont has added six new
retailers for 29,840 sf of leas-
ing activity. They include Party
City, T-Mobile, VisionWorks,
SuperCuts, Chuck & Don’s
Pet Food and Supplies, and
Fuzzy’s Taco Shop. NewMark
Merrill Mountain States is
developing the 490,000-sf cen-
ter, which now has nearly 75
percent of its space committed.
Located at South Hover Road
and Ken Pratt Boulevard, Vil-
lage at the Peaks will feature
a National Parks theme with
an open-air environment offer-
ing mountain views, fountains,
lakes, fireplaces, pocket parks
and play areas.
“We are excited to announce
these six new retailers, which
supplement our current ten-
ant list with more new, quality
dining and shopping options
for the Longmont community,”
said Allen Ginsborg, managing
director and principal of New-
Mark Merrill Mountain States.
“We are also very pleased that,
with these latest retailers and
leasing activity in the pipeline,
the property is almost 75 per-
cent leased and clearly on its
way to becoming the dominant
retail destination in the region.”
Village at the Peaks is sched-
uled to open next fall, repre-
senting almost $90 million in
local investment.s
The new owner plans more than $1 million in improvements to the building at 740 S. Pierce Ave. in Louisville.
that my company stay involved
going forward. To do this we are
partnering with Unico and will
continue to manage and lease the
properties as we have done since
their inception.
“Unico has a great reputation
and the capital necessary to take
these buildings through their next
evolution,” said Reynolds, adding
his company’s history and knowl-
edge of the Boulder market “will
ensure that these properties con-
tinue to be contributing assets.”
“We intend to invest significant
capital into tenant spaces, upgrade
the common areas and enhance
the amenity base of the parks in
order to meet the needs of Boul-
der’s dynamic creative, technolo-
gy andoffice tenants,” saidCarner.
“By modernizing the buildings,
our goal is to help tenants attract
and retain top talent and solidify
the buildings’ position as Boul-
der’s premier office parks for its
growing creative and tech tenant
base.”
Boulder properties included
in the sale totaled 1.01 million sf.
They are:
• Pearl East Business Park, a
453,424-sf, 11-building park at
Foothills and Pearl parkways. The
campus is close to U.S. Highway
36 and Boulder Junction, the city’s
new transit village, and was 93
percent leased.
• Tierra Business Center, which
comprises 205,180 sf in six build-
ings. The park is within walking/