Colorado Real Estate Journal - September 2, 2015
A local investment group purchased a pair of 15,000-squarefoot office buildings near Boulder Junction in a $4.5 million, offmarket transaction. Boulder Warehouse Association bought Centennial Creek at 2955 and 2975 Valmont Road in Boulder as part of a 1031 exchange. The multitenant buildings were fully occupied. Centennial Ventures LLC was the seller. Listing broker Becky Callan Gamble of Dean Callan & Co. said a buyer for the property came forward before it went to market. “It was finding the right buyer, the right seller at the right time,” she said. The three-story buildings were constructed in 1983 and are occupied by multiple small companies. “There’s still some good upside for the new ownership group” in terms of existing lease rates and updating the buildings, said Gamble, who represented the seller with Dean Callan & Co.’s Beau Gamble.