Lockheed Martin Corp. Sells 171,000-Square-Foot Campus In Boulder for $13.9 Million
- Aug 12, 2014
By Ioana Neamt, Associate Editor
Marcus & Millichap announced the sale of a 171,000-square-foot industrial building leased by Lockheed Martin Corp. in Boulder’s Gunbarrel neighborhood. According to the Boulder County Business Report, Dallas-based real estate investment firm Macfarlan Capital Partners purchased the property for $13.9 million. The industrial property is currently 100 percent leased by Lockheed Martin’s Information Systems & Global Services division.
The building located at 6304 Spine Road was previously owned by W&D Spine Road, formerly ICG Spine Road LLC. ICG acquired the property in 2006 for $12.9 million, as reported by the Boulder Daily Camera. Maryland-based Lockheed Martin has occupied the property for 20 years.
Marcus & Millichap represented W&D Spine Road in the transaction. Brandon Kramer and Barry Higgins, both part of Marcus & Millichap’s Denver office, represented the buyer.
“The property drew offers and interest from across the country and overseas,” says Kramer. “The Marcus & Millichap platform and collaborative working environment were crucial in bringing the sale to fruition. Every person involved in the due diligence, negotiation and closing processes exhibited a high degree of professionalism.”
According to the Boulder County Business Report, the industrial property consists of a 167,491-square-foot one-story building and a 4,800-square-foot utility building, comprising a total space of 11.9 acres.