Page 12 —
COLORADO REAL ESTATE JOURNAL
— January 6-January 19, 2016
Boulder County & U.S. 36 Corridor
by Jill Jamieson-Nichols
The city of Boulder purchased
Boulder Community Health’s
8.79-acre campus west of Broad-
way for $40 million and will
begin the process of determin-
ing the site’s future.
The deal included the hospital
campus at 1100 Balsam Ave., as
well as two properties onAlpine
Street and two small properties
on North Street. The improve-
ments total approximately
350,000 square feet.
“As a longtime partner in the
community, the seller is excited
to see the city of Boulder acquire
the property,” said CBRE’s Eric
Roth. “This is a logical transi-
tion that will allow for the site
to benefit the community in the
future.”
Roth and Martin Roth, first
vice presidents in CBRE’s Land
Services group, represented
Boulder Community Health
in the transaction. The deal
includes a two-year leaseback
during which BCH will retain
possession of the hospital and
continue to provide addition-
al medical services, including
Behavioral Health and Rehabili-
tation.
“We are so excited to be the
newowners and stewards of this
important property,” Boulder
City Manager Jane Brautigam
said in a statement. “The city is
very appreciative of the partner-
ship this sale represents and of
the leadership BCH showed in
understanding the importance
of this site to the neighborhood
and the city.
“We look forward to under-
taking a meaningful and signifi-
cant community engagement
process that will support the
thoughtful consideration of the
future uses of this site. Redevel-
opment opportunities like this
are rare in Boulder, and we want
to ensure we leverage this one
wisely and collaboratively,” she
said.
The scarcity of such redevel-
opment opportunities in Boul-
der is reflected in the price,
which took into consideration
both land value and the value
of some structures that can be
repurposed for other uses. The
407-stall parking garage with
attached ground-floor retail, for
instance, “remains very func-
tional and will likely remain in
place,” said Eric Roth.
The hospital retained posses-
sion of 183 parking spaces in the
parking structure for the next
two years, or until it completes
its consolidation at the Foothills
Medical Center at 4747 Arapa-
hoe Ave. The city has immedi-
ate use of 198 spaces and will
encourage city employees to
park there to free up spaces for
the community and to relieve
congestion in the Civic Area.
The city of Boulder wanted
to acquire the Broadway medi-
cal campus to ensure redevel-
opment fits the community’s
vision for the area. Also, the
city currently leases office space
throughout Boulder, and some
of its buildings in the Civic Area
are in the flood plain. The BCH
Broadway campus could pro-
vide an opportunity to build
new, modern city facilities, but
all potential uses are on the
table.
“There will be a community
engagement process that the
city will undertake to determine
what will happen with that cam-
pus,” said city Communication
Director Patrick von Keyserling.
“This sale is a true win-win
situation that exemplifies Boul-
der Community Health’s long-
standing commitment to our
hometown,” said Dr. Robert
Vissers, BCH president and
CEO. “It benefits BCH and local
health care in multiple ways and
also provides the city of Boulder
with a valuable property that
has tremendous potential for
redevelopment.”
s
The city of Boulder will undertake a community engagement process to determine the future of Boulder
Community Health’s Broadway campus.
by Jill Jamieson-Nichols
A family partnership paid
$2.8 million for a building that
Real Capital Solutions bought
in a portfolio deal two years
ago.
LD Holdings LLC bought 325
Interlocken B, a 23,011-square-
foot flex building. National
Entertainment Network, the
largest entertainment vending
machine company in the U.S.,
occupies the property with
several years remaining on its
lease.
The building was part of
an $11.97 million portfolio of
properties that Real Capital
Solutions bought in Interlock-
en Advanced Technology Envi-
ronment in Broomfield. RCS
sold 325 Interlocken A in 2014.
“It was part of the plan when
we purchased the portfolio to
sell off those two buildings,”
said Real Capital Solutions’
Graham Riley. “The JLL guys
did a good job of finding the
right buyer for the property.”
JLL brokers Jason Schmidt
and Patrick Devereaux repre-
sented the seller. Tyler Reed
and Mitch Zatz, also of JLL,
represented the buyer.
LDHoldings bought the asset
as part of a 1031 exchange,
said Reed. “The buyer felt very
confident in the stability and
momentum of the (Highway)
36 corridor. Additionally, they
really liked the profile of the
tenant and felt it was a safe
investment given the submar-
ket, the tenant and the building
itself.
“Finding 1031 exchange
opportunities under $5 million
in the Denver market has been
challenging this year, and the
buyer felt like this was a very
The building at 325 Interlocken B sold for $121.68 per square foot.
Real Capital Solutions recently completed solar carports at 350 Interlocken.
by Jill Jamieson-Nichols
A 30,399-square-foot office/
light-industrial building with
high ceilings and divisibility
to 2,500 sf will be delivered in
Gunbarrel in July.
The speculative building at
6035 Longbow Drive could
accommodate a wide range of
users, from small contractors
to technology companies, said
Jason Kruse of The Colorado
Group, who is marketing the
building for developer Bur-
den Inc. It also will offer the
opportunity for signage on the
Diagonal Highway and an end
suite that is particularly suited
to creative office space, he said.
“The Bouldermarket is, obvi-
ously, tight right now,” said
