Page 12 —
COLORADO REAL ESTATE JOURNAL
— February 17-March 1, 2016
by Jill Jamieson-Nichols
A Virginia-based developer
focused on adaptive reuse, smart
growth and innovative design has
acquired an approximately 1.31-
acre site on Broadway in Boulder
for a mixed-use development that
is in the planning stages.
An entity affiliated with Fulton
Hill Properties, 3303 Broadway
LLC, paid$3.1million for theprop-
erty, which houses two vacant for-
mermedical offices.Mental Health
Partners was the seller.
Fulton Hill Properties had the
property under contract for about
1½ years and has been working
with the city and community to
determine the best mix of uses
for the site, said Maritza Pechin,
Fulton Hill development man-
ager. The company would like to
develop apartments and commer-
cial space, including micro-office
space, but still is working through
the entitlement process.
The company also has joined the
Colorado District of the Church of
the Nazarene to develop a 4.8-acre
site at 2801 Jay Road in Boulder
County, which it hopes to annex
into the city. The site likely would
house “family focused” housing,
possibly with a small commercial
component.
That project also remains in the
planning stages.
Fulton Hill Properties is based
in Richmond. Its president and
owner, Margaret Freund, has
owned a home in Boulder for
many years.
Other News
n
Stanley Brothers Social
Enterprises LLC
leased 17,138
square feet of lab space at 2425 55th
St. inFlatironParkWest inBoulder.
Hunter Barto
of
Dean Callan &
Co.
and
Scott Garel
of
Newmark
Grubb Knight Frank
represented
the landlord,
Washington Capital
Management Inc.
Chris Sharp
and
Justin Rayburn
of
Avison Young
represented the
tenant.
n
Complete Home Health Care
leased 4,800 sf of office space at
1500 Kansas Ave. in Longmont
with plans to relocate from 916
17th St.
Complete Home Health Care is
a Medicare- and Medicaid-certi-
fied home care agency headquar-
tered in Broomfield with branch
offices in Broomfield, Longmont,
Colorado Springs and Pueblo.
Approximately 2,400 sf to 20,000
sf of office and light-industrial
space remains available for lease at
1500 Kansas.
Jason Kruse
of
The Colorado
Group
is the listingbroker and rep-
resented the landlord in the Com-
plete Home Health transaction.
Becky Lyall
of
Becky Lyall Real
Estate
represented the tenant.
s
Boulder County & U.S. 36 Corridor
by Jill Jamieson-Nichols
A trophy office building on the
Denver-Boulder corridor sold
for $83.5 million, according to
public records.
Central Park Tower, an
11-story, 297,672-square-foot
building at 385 Interlocken Cres-
cent, traded for $280.51 per sf,
which is believed to be one of the
highest prices, if not the highest
price, paid for a office building
on the northwest corridor.
Franklin Street Properties and
Prime West Cos. developed the
LEED Gold building in 2010.
Occupancy was believed to be in
the mid- to high 80s at the time
of the sale. Webroot is among
major tenants.
Records show the buyers were
GV 385 Interlocken Owner LLC
and GV 385 Interlocken Owner
LLC, which list the same address
as Chicago-based Walton Street
Capital. FSP 385 Interlocken
LLC and FSP 385 Interlocken
LLC were the sellers.
Walton Street Capital is pri-
vate equity real estate invest-
ment company. A representa-
tive didn't return a phone call
about the transaction, and others
involved in the deal declined to
comment.
s
