Lookout Business Center in Boulder Sells for $10.5M
BOULDER –Lookout Business Center, a 50,472-square-foot office building, located at 6150 Lookout Road in Boulder, has sold for $10.5 million. Etkin Johnson Real Estate Partners, a full-service, privately owned commercial real estate investment and development company based in Colorado sold the property to Greenwich, Connecticut-based Ivy Equities for $10.5 million.
“When Etkin Johnson reacquired this property a few years ago, we had a vision of creating a highly-visible, flexible and convenient workplace for a top-tier tenant like FIRST RF,” said Derek Conn, partner at Etkin Johnson. “This sale gives Ivy Equities the chance to expand their footprint in the Boulder market while allowing Etkin Johnson to reinvest the capital in development projects along the Front Range.”
Etkin Johnson first acquired the office building in 1988, before selling it to Qualcomm in 2014. It was reacquired by Etkin Johnson in 2016, along with an adjacent parking lot and two nearby vacant parcels. The 3.7-acre parcel at 6100 Spine Road was later sold to Boulder-based W.W. Reynolds Cos. The 2.3-acre parcel at 6201 Spine Road was sold to Golden One Properties LLC.
In 2016, the same year it was acquired, Etkin Johnson renovated Lookout Business Center to include an open, flexible floor plan, glass overhead doors, exposed 16-foot ceilings and updated landscaping. The building was leased to FIRST RF Corporation later that year.
FIRST RF, a women-owned advanced technologies company specializing in antennas and radio frequency systems, will remain the sole tenant under Ivy Equities’ ownership.
Riki Hashimoto and Dan Grooters of Newmark Knight Frank represented Etkin Johnson in the transaction.
Etkin Johnson currently owns more than 3 million square feet of industrial and office property, along with hospitality and multifamily assets along the Front Range.
Photo courtesy of Etkin Johnson