Colorado Real Estate Journal - August 17, 2016
A 2-story, multitenant office building in Boulder traded in a $2.8 million investment deal. The 14,901-square-foot building at 5277 Manhattan Circle was fully occupied at the time of the sale. However, one tenant is leaving, and one of the buyers plans to occupy that space of about 2,500 sf, said Eric Rutherford of Wright Kingdom Real Estate. Rutherford and Tom Hill of Wright Kingdom represented the buyer, 5277 Manhattan LLC. Doug Myers sold the property at a price per sf of $187.91. Rutherford, who was among the investors who acquired the property, said the building occupies a “great location” right off Highway 36, plus, “We felt the price per square foot was pretty good.” The building was built in 1999. The tenants include a mix of medical and professional companies. Other News Sovran Self Storage Inc. recently completed its approximately $1.3 billion acquisition of LifeStorage LP, which owned four self-storage facilities Boulder County. Sovran has operated Uncle Bob’s Self Storage facilities in the Denver metro area for many years. The LifeStorage acquisition comprised 84 stores in markets including Chicago; Austin, Texas; Dallas; Orlando, Florida; and Los Angeles. The Boulder County facilities are located at 5815 Arapahoe Ave., 6338 Arapahoe, 4545 Broadway and 6405 Odell Place.