Broomfield Industrial/Flex Property Sells for $11M
Boulder-based Tepuy Properties, a real estate syndicate and property manager, recently acquired a 68,400-square-foot property at Broomfield’s Interlocken Business Park for $11 million, marking its largest acquisition to date.
Tepuy acquired the three flex/industrial buildings, located at 100 Technology Drive, from Real Capital Solutions Inc. Tepuy also owns a similar single-story, 65,000-square-foot flex building at 295 Interlocken Blvd.
The three buildings were an ideal fit for Tepuy, which specializes in buying and leasing commercial space, especially flex spaces, which allow tenants in manufacturing, biotechnology, office or distribution all to thrive.
“The Interlocken Business Park has a lot of buildings and not many of them are flex space,” said Ricardo Bottome, Tepuy’s asset manager. “Historical vacancy at our current building in this business park has always been very low, so we expect it to be the same here at our new property.
Built in 1986, the three buildings at 100 Technology Drive are 100 percent leased. The property’s tenants include pharmaceutical company Activax, Nordic outdoor apparel supplier Active Brands, Xero Shoes, Wavelynx Technologies and Derive Systems.
Bottome started Tepuy Properties in 2013 as a way for investors looking to purchase commercial real estate to pool their resources together on different properties throughout the Denver and Boulder areas. 38 investors from the United States, Europe and Latin America have joined Tepuy in its purchase of the new building under a 506 (c) offering. Tepuy’s newest purchase will bring Tepuy to 400,000 square feet, 12 properties, 17 buildings and 74 tenants through the Denver and Boulder area.