HFF Secures $12M Loan for Denver-Area Mixed-Use Asset
- Mar 02, 2017
Boulder, Colo.—HFF announced that is has secured a $12.1 million loan for the acquisition of a 152.000-square-foot industrial and office asset in Boulder, Colo. HFF worked on behalf of Manchester Capital Management to place the three-year, fixed-rate loan with a regional bank.
Located at 6265 Gunbarrel Ave. on 12.3 acres, the building is located within the Gunbarrel Business Park, which is home to various companies such as Lockheed Martin, Celestial Seasonings, Qualcomm, Northrop Grumman and Avery Brewing Co. The property is situated in the northeast of the submarket, one of Denver’s largest suburban markets, and is located 43 miles from Denver International Airport. The two-story building is 60 percent leased to BI Inc., one of the nation’s leading manufactures of offender-monitoring products and services. The property features 74,000 square feet of office space.
“On behalf of one of our client families, we are very excited to acquire this highly attractive asset in one of the most supply-constrained and desirable markets in the country,” Corbin Rich, asset manager for Manchester Capital Management, said in a statement. “Boulder’s industrial/flex market vacancy is currently less than five percent, and we anticipate robust demand for the vacant space, which underperformed the market during a recent foreclosure process.”
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