Colorado Real Estate Journal - February 17, 2016
A Virginia-based developer focused on adaptive reuse, smart growth and innovative design has acquired an approximately 1.31-acre site on Broadway in Boulder for a mixed-use development that is in the planning stages. An entity affiliated with Fulton Hill Properties, 3303 Broadway LLC, paid $3.1 million for the property, which houses two vacant former medical offices. Mental Health Partners was the seller. Fulton Hill Properties had the property under contract for about 1½ years and has been working with the city and community to determine the best mix of uses for the site, said Maritza Pechin, Fulton Hill development manager. The company would like to develop apartments and commercial space, including micro-office space, but still is working through the entitlement process. The company also has joined the Colorado District of the Church of the Nazarene to develop a 4.8-acre site at 2801 Jay Road in Boulder County, which it hopes to annex into the city. The site likely would house “family focused” housing, possibly with a small commercial component. That project also remains in the planning stages. Fulton Hill Properties is based in Richmond. Its president and owner, Margaret Freund, has owned a home in Boulder for many years. Other News Stanley Brothers Social Enterprises LLC leased 17,138 square feet of lab space at 2425 55th St. in Flatiron Park West in Boulder. Hunter Barto of Dean Callan & Co.and Scott Garel of Newmark Grubb Knight Frank represented the landlord, Washington Capital Management Inc. Chris Sharp and Justin Rayburn of Avison Young represented the tenant. Complete Home Health Care leased 4,800 sf of office space at 1500 Kansas Ave. in Longmont with plans to relocate from 916 17th St. Complete Home Health Care is a Medicare- and Medicaid-certified home care agency headquartered in Broomfield with branch offices in Broomfield, Longmont, Colorado Springs and Pueblo. Approximately 2,400 sf to 20,000 sf of office and light-industrial space remains available for lease at 1500 Kansas. Jason Kruse of The Colorado Group is the listing broker and represented the landlord in the Complete Home Health transaction. Becky Lyall of Becky Lyall Real Estate represented the tenant.