Colorado Real Estate Journal - June 17, 2015
Boulder investors paid $2.8 million for an office/retail building on the busy Arapahoe Avenue corridor. The 14,000-square-foot property at 3300-3380 Arapahoe in Boulder is 100 percent leased. Tebo-Walsh LLC, a partnership of Stephen Tebo and Todd Walsh, purchased the property from 3300 Cardiac Investments LLC. The selling partnership included a group of doctors who relocated several years ago to the Boulder Community Hospital area, according to Walsh. “It’s a great location. It has great visibility, and the office as well as retail market is pretty strong in Boulder,” said Walsh, adding some of the tenants have been in the property for years. The first floor is leased to retail tenants, including Jimmy John’s, Fat Kitty Cycles and Lai’s Alterations, while a variety of office tenants occupy the second floor. “With a pretty diverse mix of tenants, there was low risk of a large amount of vacancy,” said Walsh, adding there also is future upside in the rents. “We think it’s got some good long-term upside potential,” Tebo commented. The center was built in 1972. “The property is in good condition,” Walsh said.
-Archer DX, formerly Enzymatics, signed a lease for an additional 23,464 square feet of office/research-and-development space at 2477 55th St. in Flatiron Park West in Boulder. The biotechnology company will occupy a total of 36,785 sf and will move into the additional space over the next couple of months, said Hunter Barto of Dean Callan & Co. Barto and Scott Garel of Newmark Grubb Knight Frank represented the landlord, Washington Capital