- March 8, 2018
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9,000-14,000 square feet seemed to be the magic size of the significant deals. A downtown Boulder property at 14th and Pearl leased two suites of 10,000 and 9,000 SF. Pearl East business park featured a 14,000 SF lease deal, while The Junction, also on Pearl Street had a 9,000 SF transaction in February.
On the sales front, Koko Plaza in Lafayette sold for $7.1 million or $288 PSF. The 34,000 SF mixed use building houses 19 tenants. A Denver investor bought the property.
Apartment sales always seem to be the highest value deals as of late. Luna Bella in Lafayette sold for $60 million, or $251,000 per unit. Buchanan Street Partners out of Newport CA purchased the property from a Denver based Seller.
The Radisson Hotel and Conference Center in Longmont sold for $11.5 million, or $55,000 per “key” to Shamin Hotels out of Virginia. Long time developer owner Pratt Companies sold the property which had last been renovated substantially in 2005.
A couple industrial deals rounded off the activity last month. A 60,000 SF property occupied by Northern Colorado Paper sold to a Buyer from Evans CO for $4.5 million, or $75 PSF. It appears that this was a Sales-Leaseback arrangement.
Brighton CO featured a $4.1 million owner-occupant sale of a property on CR 27. The price per square foot was $110 PSF.
Retail activity featured the sale of Bisetti’s Restaurant in downtown Fort Collins. The iconic restaurant sold for $3.35 million, or $343 PSF. A local real estate group purchased the property from the long-time restaurant operators, now in Phoenix AZ.
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