5775 Flatiron Parkway sells for $10.9M
Denver Business Journal
BOULDER, CO – Crown West Realty, LLC has purchased the office building at that address in Boulder for $10.9 million, the company said Wednesday.
The seller was Invesco Real Estate of Dallas, which acquired the building in 2000 for $13.1 million from Corporate Realty Income Fund I LP of New York, according to a Corporate Realty filing with the Securities and Exchange Commission.
The Boulder building is Crown West’s seventh Colorado office building purchase since the company entered the market in 2005. Other Denver-area holdings include Corporate 25, Plaza Quebec, Orchard Plaza I-IV, One Cherry Center and Union Plaza.
Crown West of New York, whose parent is the Petrus Partners Ltd. investment firm, has a Denver office in One Cherry Center at 501 S. Cherry St.
The two-story 5775 Flatiron Parkway building includes 96,000 square feet of space and was completed in 1987. It’s located just north of Arapahoe Road / Highway 7 and east of 55th Street in Boulder.
The property is 96 percent occupied by tenants, including CH2M Hill Inc., Konica Minolta Business Solutions USA Inc., SimAuthor Inc. and Vexcel Corp., according to Crown West.