Colorado Real Estate Journal - December 7, 2016
A downtown Boulder building that houses the popular Walnut Saloon sold to a Boulder investor for $6.9 million, or $297.07 per square foot. Scott Littlefield purchased the three-story, 23,227-sf building at 1911 11th St. from John Thacker, a Longmont investor who had owned it for more than 30 years. The Walnut Saloon has a long-term lease for street-level space in the building, which also houses Re/Max Alliance on Walnut. The building was about 95 percent occupied, and many of the tenants are small office users on short-term leases, according to Tom Hill of WK Real Estate, who represented the seller with WK’s Eric Rutherford. The building dates to approximately 1905. It was occupied by a moving and storage company when Thacker bought and renovated it in 1972, Hill said. There was significant investor interest in the property because of its downtown Boulder location, he said. The purchase was Littlefield’s first significant commercial real estate acquisition in the market, according to Todd Walsh of Boom Properties, who represented him in the transaction. “The building is prime for repositioning and is in a great location right downtown,” said Walsh, who said the buyer plans to renovate and retenant the office space. “I think with some investment he can turn the building into a Class A office building, and that’s his goal,” said Walsh. Other News Ecolibrium leased 8,839 square feet of industrial space at 4635 Nautilus Court in Boulder in an expansion from another building in the vicinity. Hunter Barto and Beau Gamble of Dean Callan & Co. represented the tenant. Steve Chrisman of Chrisman Commercial and Susan Chrisman of the Colorado Group represented the landlord, Gunbarrel Properties LLC. The Colorado Department of Corrections Division of Adult Parole recently leased 4,086 sf of office space at 310 Lashley St., Suite 100, in Longmont. Matt Kulbe and Anthony Damico of NavPoint Real Estate Group represented the landlord.