HFF Closes Sale of Value-Add Industrial Asset in Colorado
- Oct 06, 2016
by Csilla Borsos
Boulder, Colo.—HFF recently closed the sale of a 151,976-square-foot flex/industrial manufacturing building located in Boulder, Colo. Bow River Capital Partners’ new acquisition, 6265 Gunbarrel Ave., is valued at $13 million, according to PropertyShark data.
Consisting of two stories, the industrial building features 48,000 square feet of office space and is home to the corporate headquarters of BI Inc., a wholly owned subsidiary of The GEO Group. Completed in 1969, the asset occupies a 12.15-acre site. The asset is located in Gunbarrel Business Park, near State Highway 119, known as the Diagonal Highway connecting Boulder to Longmont. Situated in one of Denver’s major suburban office markets, the property is roughly 32 miles from the Mile-High City’s downtown.
The HFF investment sales team was led by Managing Director Jules Sherwood. The buyer acquired the property free and clear of debt.
“The building allows future tenants the opportunity for great manufacturing or creative office space directly across the street from multiple amenities and housing,” said Sherwood in prepared remarks.
Image courtesy of BI Inc.