Colorado Real Estate Journal - August 19, 2015
Competition for a 37,655-square-foot office building in Lafayette drove the price to $5.91 million, $155,000 over the asking price of $5.75 million. There were multiple offers for Millennium Plaza, a three-story, multitenant building that sold to the Mental Health Center of Boulder County. The property is located at 1455 Dixon Ave. “The building was 100 percent leased, and what they plan to do is let the leases and the options expire over time and occupy the building as it vacates,” said Scott Dale of Scottsdale Properties, who listed the building for seller Oliver A. McBryan. Dale said Boulder County investors competed for the property because, “It was a really nice, well-managed building, and it was 100 percent leased with a solid rent roll.” Tenants include CRMCulture, a software company that occupies 6,793 sf; Adult Care Management Inc., which has 4,280 sf; and Interim HealthCare, a 3,552-sf tenant. Chris Boston and Michael-Ryan McCarty of Gibbons-White Inc. represented the buyer in the transaction. Scottsdale will continue to manage the building for the new owner. “We have really enjoyed working with the leadership team of the new ownership group,” Dale commented.