Graham Street Realty Sells Boulder Office Building
San Francisco-based commercial real estate firm Graham Street Realty (GSR) recently sold 5665 Flatiron Parkway in Boulder, for an undisclosed amount. GSR purchased the asset in February 2019, as a part of a three-property portfolio that includes 3005 Center Green Drive and 2945 Wilderness Place, totaling a combined 114,862 square feet of leasable office and lab space.
“Despite choppy waters in the commercial office market, we were able to complete our business plan during 2020 and sell this asset for a strong investor profit due to its location in Boulder,” said David Messing, managing partner at Graham Street Realty, about the sale of 5665 Flatiron Parkway.
5665 Flatiron is located in East Boulder’s Flatiron Business Park, Boulder’s most conveniently accessible office inventory for employees commuting from Denver and more affordable residential communities to the east. The building caters to more established office tenants, with suites ranging from 10,000 to 20,000 square feet.
2945 Wilderness Place is a two-story, Class B office building within walking distance of nearby retail and restaurants. This property is fully leased to a single biotechnology tenant and has maintained 100 percent occupancy for over 20 years while functioning as a life science building.
3005 Center Green Court, known as Plaza III, was constructed in 1984 on 1.46 acres comprising a total of 43,421 rentable square feet. The two-story building, located three miles from downtown Boulder, features unimpeded views of the Flatirons, covered parking, and proximity to retail and dining.multi-tenant office building.
The Boulder submarket continues to see high demand for office space and is home to new and expanding companies in the technology, business service, and consumer products industries. The team was able to capitalize on the strong demand for assets in Boulder, despite a more challenging economic environment as a result of the coronavirus pandemic.