August 17-September 6, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 15
Boulder County & U.S. 36 Corridor
by Jill Jamieson-Nichols
Amultitenant flex/office build-
ing on the U.S. Highway 36 cor-
ridor in Broomfield sold to an
investment group for $6.92 mil-
lion.
The transaction included the
60,437-square-foot building at
3400 Industrial Lane and approxi-
mately nine acres for additional
development.
The building is 100 percent
leased to tenants including Har-
vest Bible Chapel, Warrior Chal-
lenge Arena, Sundew Technolo-
gies, Just Results, Lilliput Designs
and others. The stone and block
building was built in 1969 and
recently reno-
vated. It fea-
tures 12-foot
ceilings, dock-
high
and
drive-in doors,
and a parking
ratio of 1.8 per
1,000 sf.
“It was a
great project,”
said
Matt
Kulbe of NavPoint Real Estate
Group, who represented seller 36
Properties LLC with NavPoint’s
Matt Call. “It was an older build-
ing. It had a lot of vacancy, but our
owner had the creativity to come
in there, spend somemoney, reno-
vate the entire building and get it
filled up with good tenants,” he
said, noting there was significant
interest in the property, which
sold at an 8 percent-plus cap rate.
Eric Rutherford of Wright King-
domReal Estate, who represented
the buyers with Tom Hill, also of
Wright Kingdom, was among a
group of investors that acquired
the property. Rutherford said the
occupancy, cap rate and loca-
tion on Highway 36, with good
highway signage and access to
bus rapid transit, were part of
the property’s appeal. The inves-
tors, led by Canaima Outdoors
Inc. CEO and Slackline Industries
founder Ricardo Bottome, also
was attracted by the opportunity
for additional development on
a build-to-suit basis, something
they are evaluating.
s
The building at 3400 Industrial Lane in Broomfield is part of Broomfield
Technology Center.
Eric Rutherford
by Jill Jamieson-Nichols
Comunale Properties has
broken ground on Summit at
Colorado Technology Center,
which will bring small-tenant
industrial/flex space to the
Louisville business park in late
2016.
While most of the industri-
al space delivered this cycle
has been for large tenants, the
62,400-square-foot Summit
will offer 24-foot-clear space
for tenants as small as 9,600 sf.
“Summit at Colorado Tech-
nology Center is truly an
answer to what Boulder’s
industrial market has been ask-
ing for over the past several
years,” said Erik Abrahamson,
senor associate with CBRE
Industrial & Logistics Ser-
vices. “Comunale Properties
designed the project to meet
the specific needs of small-bay
industrial users who want to
stay in Boulder County and
take advantage of all of the
high-quality, modern design
elements normally reserved for
large tenants.”
“With a large part of our
portfolio based in the Front
Range, we are keenly aware
of the need for 10,000- to
25,000-square-foot options in
this market and the specific
design elements that take a
space from merely functional
to transformational for a busi-
ness,” said John Comunale,
president and managing part-
ner of Comunale Properties.
The project provides a flex-
ible layout of smaller, 40-foot
bays that can accommodate a
variety of tenant size require-
ments. It is only 120 feet deep,
so it’s planned to house up to
five tenants without creating
a “bowling-alley” feel some-
times associated with small-
bay space.
Summit at Colorado Tech-
nology Center will include an
ESFR sprinkler system, sepa-
rate entrances from Pierce and
Taylor avenues for front office
and rear loading, and dock
and drive-in loading with a
large truck court. The design
includes wraparound glass up
to 24 feet in height on the ends
of the building, which have
street exposure to create the
appearance of a single-tenant
building.
There also is continual glass
along the front of the build-
ing, as well as skylights and
clerestory windows for ample
natural light.
Powers Brown Architecture
designed the project, which
is being built by Alcorn Con-
struction.
Abrahamson and CBRE’s
Tyler Carner, Jeremy Kroner
and Jeremy Ballenger are the
leasing agents.
Comunale Properties is plan-
ning a second phase of up to
40,000 sf on either a build-to-
suit or speculative basis.
The Colorado Tech Center,
which is home to approximate-
ly 90 companies, is located at
the northeast corner of Dillon
Road and South 96th Street.
s
Breaking ground on Summit at Colorado Technology Center are, from left, Tyler Carner and Jeremy Kroner
of CBRE, John Comunale of Comunale Properties, Keith Conrad of Powers Brown Architecture, Scott Pierce
of Alcorn Construction, Josh Heiney of Comunale Properties, and Erik Abrahamson and Jeremy Ballenger of
CBRE.
by Jill Jamieson-Nichols
A retail/office building off
the U.S. Highway 36 corridor
in Superior sold for $1.05 mil-
lion, or $164.16 per square foot.
SuperiorLibertyLLCbought
the former Liberty Savings
Bank building at 1697 Coalton
Road from Liberty Capital Inc.
The 6,396-sf building sits in
front of a Safeway-anchored
shopping center near Flatiron
Crossing.
At the time of the sale, a den-
tal office that occupies 1,567 sf
was the only tenant. The buyer
plans to convert 3,050 sf into
a drive-thru liquor store and
offer the remaining 1,567 sf for
lease, according to Ba Vovan of
MB Redstone Executive Real
Estate Services.
Cobey Wess and KimMeyer
of SVN/Denver Commer-
cial were the listing brokers.
Vovan represented the buyer.
The building was built as a
bank in 2001.
s
The owner of the former Liberty Savings Bank in Superior plans a
drive-thru liquor store in about half of the space.
by Jill Jamieson-Nichols
A 2-story, multitenant office
building in Boulder traded in a
$2.8 million investment deal.
The 14,901-square-foot build-
ing at 5277 Manhattan Circle was
fully occupied at the time of the
sale. However, one tenant is leav-
ing, and one of the buyers plans to
occupy that space of about 2,500
sf, said Eric Rutherford of Wright
Kingdom Real Estate. Rutherford
and TomHill of Wright Kingdom
represented the buyer, 5277 Man-
hattan LLC.
Doug Myers sold the property
at a price per sf of $187.91.
Rutherford, who was among
the investors who acquired the
property, said the building occu-
pies a “great location” right off
Highway 36, plus, “We felt the
price per square foot was pretty
good.”
The building was built in 1999.
The tenants include amix of med-
ical and professional companies.
Other News
n
Sovran Self Storage Inc.
recently completed its approxi-
mately $1.3 billion acquisi-
tion of
LifeStorage LP,
which
owned four self-storage facili-
ties Boulder County.
Sovran has operated Uncle
Bob’s Self Storage facilities
in the Denver metro area for
many years. The LifeStorage
acquisition comprised 84 stores
in markets including Chicago;
Austin, Texas; Dallas; Orlando,
Florida; and Los Angeles.
The Boulder County facili-
ties are located at 5815 Arapa-
hoe Ave., 6338 Arapahoe, 4545
Broadway and 6405 Odell
Place.
s
The building at 5277 Manhattan Circle in Boulder sold to an investment
group.
