Colorado Real Estate Journal -
Commercial real estate owner Stephen Tebo acquired three historic buildings in the heart of the Pearl Street Mall for $5.43 million, or $420.80 per square foot. Woody Creek Bakery, Pitaya and Gaiam occupy the streetlevel retail space in the buildings, which are located at 1207- 1215 Pearl St. Individual office tenants lease the upper floors of the two-story, 100 percent occupied buildings. The property consists of 12,892 sf. “We are always interested in key locations, and that’s one of the best locations in Boulder, Colo., ever,” said Tebo, who acquired the property through Tebo 1207 LLC. Properties in the prime Pearl Street location yield some of the highest rents in Boulder; the Gaiam space, for instance, was being marketed two years ago for $41 to $42 per sf triple net. Located on the south side of Pearl, the buildings were marketed nationally and locally. Multiple offers were received, according to Geoff Keys of Keys Commercial Real Estate in Boulder. Keys and Ashley Overton of Keys Commercial represented the seller, 1207 Pearl LLC. Constructed in the late 1800s, the property has been home to several historically significant Boulder businesses over the years, said Keys.