55 TH FOR SALE 60,788 SF OFFICE BUILDING BOULDER, CO

Transcription

1 TH S T R E E T BOULDER, CO FOR SALE 60,788 SF OFFICE BUILDING

2 THE OFFERING TH STREET - BOULDER, COLORADO CBRE, Inc. and Dean Callan & Company, Inc., as the exclusive representatives of the Owner, are pleased to offer for sale th Street, a 60,788 SF office building, (the Property ), located in Flatiron Park in Boulder, Colorado. The Property has high visibility and premium access, with frontage on 55th Street. Flatiron Business Park is a desirable location in Boulder with many high-tech, consulting, research and communication tenants, including Active Interest Media, Real ID, Sovrn, Penton Media and Markit Digital. The two-story building has configured work stations for 275 employees. There is a learning center, and two conference rooms on each floor. A large break area on the main floor, 2 smaller break rooms on the second floor, and designated coffee stations provide coverage to the whole building. This fully ADA compliant, handicap accessible building has 2 elevators and 6 designated handicap parking spaces. This bike-friendly property has an indoor bike valet that can hold up to 20 bicycles. Eight sets of restrooms are located on both floors, two of the restrooms include shower facilities. There are 2 dock high loading docks with 12 overhead doors at the rear of the building. The Property boasts a large stone monument sign with 55th Street frontage. For pedestrian and bike traffic, Boulder Creek Trail borders the north and eastern sides of the business park with Pearl Street just to the north and Arapaho Road to the south. The Property has the additional benefit of being located on the RTD bus system with multiple routes located on 55th Street. Downtown Boulder is a short 5-minute drive away with access to Pearl Street Mall, and University of Colorado Boulder. Boulder features a diverse mix of industries driving local, national and global economies. There is a high concentration of employment in several key industry clusters. Those include natural foods, outdoor industry, high-tech, bio-tech, clean-tech, and government. In addition, key industries that provide economic impact to Boulder include tourism and research. SALE PRICE: $12,157,600 ($200/SF) BUILDING SIZE: 60,788 SF LAND SIZE: 2.9 Acres (126,303 SF)

3 University Of Colorado Pearl Street Mall 29th Street Mall Arapahoe Avenue Foothills Parkway 55th St 55 TH 2300 S T R E E T Boulder Municipal Airport FLAT IRON PARK CONNECT CREATE INNOVATE

4 TABLE OF CONTENTS PROPERTY INFORMATION 5 - PROPERTY SUMMARY 6 - FLOOR PLANS 8 MARKET OVERVIEW 10 - LOCATION OVERVIEW 11 - MARKET STATISTICS 15 - SALES COMPARABLES TH S T R E E T TH STREET BOULDER

5 TH S T R E E T PROPERTY INFORMATION

6 PROPERTY SUMMARY BUILDING DESCRIPTION PROPERTY ADDRESS: th Street - Boulder, CO SALE PRICE: $12,157,600 ($200/SF) AVAILABLE: Fourth Quarter 2018 YEAR OF COMPLETION: Built in 1996 LAND AREA: 2.9 Acre Site (126,303 SF) BUILDING SIZE AND CONFIGURATION: The subject is 60, 788 SF - two story, suburban office building ZONING: Light Industrial (LI) PARKING: Handicap Spaces 6 Regular Spaces 119 Compact Spaces 62 Total Spaces 187 Bicycle Spaces 20 CONSTRUCTION DETAILS EXTERIOR The construction components include a steel and concrete frame with steel beams and steel decks. Exterior wall structure is brick. DOOR & WINDOWS All exterior doors are aluminum framed store front doors with full glass window panel inserts. All interior doors are solid core wood doors with stainless steel hardware. All exterior windows are tinted glass window panels. ROOF EPDM ballasted rubber roof CEILING HEIGHTS 9 4 1st floor, 8 6 2nd floor 14 on the dock INTERIOR FINISHES Restrooms: 8 sets of restrooms, 2 sets include shower facilities Flooring: Concrete slab with 2x2 carpet square floor coverings Wall: Painted sheetrock Lighting: Automated lighting system including a mix of suspended indirect fluorescent fixtures, indirect perimeter cove lighting, and recessed incandescent fixtures TH STREET BOULDER

7 PROPERTY SUMMARY BUILDING SYSTEMS DETAILS ELEVATORS 2 - Otis hydraulic lift passenger elevators ELECTRICAL 800A EMERGENCY POWER Kva Cummin s Generator KVA Liebert UPS s SECURITY AMAG card access system FIRE AND LIFE SAFETY Sprinkler system with notifier control panel Data center has a preaction system HVAC 12 - Individual RTU s 3-20 Ton Liebert CRAC units (supplies cooling to the data center) UTILITIES Fiber: Water: Electricity: Gas: Century Link City of Boulder Xcel Xcel TH S T R E E T BOULDER, CO DOCK BUILDING FEATURES 2 - Loading docks both at full dock height 1-12 ft overhead door - Fabulous Monument Signage - Rare Ownership Opportunity - Elevator - Dock High Loading - Sprinkler System - Wall Mounted Indoor Bike Rack TH STREET BOULDER

8 FLOOR PLAN - First Floor CURRENT BUILDING CONFIGURATION - Work stations for 275 Employees ENTRANCE TH STREET BOULDER

9 FLOOR PLAN - Second Floor TH STREET BOULDER

10 MARKET OVERVIEW 55 TH 2300 S T R E E T

11 LOCATION OVERVIEW F L AT IRON PARK - Flatiron Park CONNECT CREATE INNOVATE Property Boundaries Boulder Creek Trail Flatiron Park u Bo THE FLATIRON PARK NEIGHBORHOOD: Creek Trail While there are over 40 buildings in Flatiron Park, 55th St 55th St Bo ul r de r Creek Trail lde there are only 5 buildings with frontage onto 55th TH S T R E E Street, including th. The Park is surrounded th Street by Boulder s famous bike path running along THE DELI Boulder Creek that starts at Arapahoe and Cherryvale and ends up just under 10 miles later T in Boulder Canyon. From th Street, it is only a 15 minute bike ride to downtown Boulder. The Park features daily visits from numerous gourmet THE DELI Milne Way food trucks plus OZO Coffee, Upslope Brewery and the Deli also provide nice amenities within walking distance. B-Cycle is planning on a location within the Park in 2018 and the City of Boulder is working on a revised comp plan that includes new bus rapid transit along East Arapahoe as well as considering zoning changes that would provide for more housing options and mixed use communities TH STREE T BOULDER

12 LOCATION OVERVIEW - City of Boulder AREA EMPLOYERS Voted #1 Most Educated Metro Area Finalist for Best Town Ever contest Named Happiest & Healthiest City WHY BOULDER? The City of Boulder has 103,000 residents in addition to 29,000 University of Colorado students. Boulder offers an amenity-rich lifestyle including cultural opportunities, a vibrant nightlife, and year-round outdoor activities including hiking and biking trails, recreation open space, and quick access to world-renown ski resorts. A place that businesses want to be. Boulder is recognized for: - Being the Happiest City in America according to National Geographic Boulder Municipal Airport - A top-ranked research university and robust research economy to support your business - A collaborative business environment that will help your company prosper Eldora Ski Resort 21 Miles Pearl Street Mall 29th Street Mall University of Colorado th Street Flatirons Golf Course - An innovative community where entrepreneurs thrive - A wide range of companies, from startups to Fortune 300, in diverse industries including; aerospace,bioscience, cleantech, IT/software, natural products and outdoor recreation - A quality of life that helps businesses attract and retain top talent - Research firm Compass, named the city as a runner-up on its list of the top global startup ecosystems. The report scored the city based on factors such as funding, market reach, and the rate of exit growth - Inc. Magazine has named Boulder America s Startup Capital and America s Startup City - Boulder s metro area population consistently ranks highest in the U.S. for educational attainment by the US Bureau of Labor Statistics - Boulder was ranked #1 in the U.S. for workforce education levels in the poll of Best Places for Business TH STREE T BOULDER

13 LOCATION OVERVIEW - Boulder Boulder s Business Environment: Between the highly educated workforce, the technology infrastructure and quality of life, Boulder is home to several corporate campuses as well as one of the countries top research universities, The University of Colorado. In addition, there are several of the most well respected government research institutions that reside in Boulder including NIST, NOAA, UCAR and NCAR. Boulder s diverse industries include not only government, but Information Technology, Outdoor Industry, Natural Food Industry, Aerospace, Cleantech, Life Science, and Craft Brewery. It is this diverse educated workforce combined with the development constrained market that results in limited new development and historically low vacancy rates. Boulder Municipal Airport Located just northwest of Flatirons Park, Boulder Municipal Airport is a general aviation airport that provides business, private, recreational and emergency services to the City of Boulder TH STREET BOULDER

14 LOCATION OVERVIEW - Boulder Longmont LARGE CORPORATIONS CLOSE TO BOULDER INTERSTATE 25 AREA DRIVE TIMES To Downtown Denver via US 36 and I-25 To Denver International Airport via E Miles 42 Miles 5 MILES 3 MILES 1 MILE Boulder TH S T R E E T To Downtown Longmont via CO Miles Broomfield PUBLIC TRANSPORTATION - The recently completed RTD Flatiron Flyer rapid transit bus service offers convenient travel options along US 36 between Boulder and Denver. Westminster Thornton Denver International Airport DENVER DEMOGRAPHICS: 2017 Estimated Population 1 Mile 4,366 3 Miles 79,513 5 Miles 136, Estimated Households 1 Mile 1,611 3 Miles 33,515 5 Miles 56, Average Household Income 1 Mile $124,538 3 Miles $81,461 5 Miles $102,939 - ESRI TH STREET BOULDER

15 MARKET STATISTICS Source: CBRE Research, Q Boulder Historic Class Vacancy Direct Vacancy Comparison Vacancy (%) 25 16% 14% % 10% 8% 6% 4% 5 2% YTD Q Q Q Q Q Class A Class B Class C Metro Denver Boulder Downtown Boulder Leasing Activity (# of New Deals) Size Range (SF) <2.5K 2.5K - 5K 5K - 10K 10K - 25K 25K - 50K >50K SF Quarter Year 3Q Q Q Q Q K 50K 100K 150K 200K 250K 300K 350K 400K 450K 500K 550K TH STREET BOULDER

16 MARKET STATISTICS Source: CBRE Research, Q Q Q Q Q Q Total NRA 6,046,383 6,027,906 6,014,358 5,968,914 5,968,914 Under Construction SF 108, , , , ,434 Direct Vacant % Direct Available % Net Absorption SF 1, ,776 25,660 (52,588) (3,657) Direct Asking Lease Rate ($) Activity SF 94, , , , ,255 Top Tech Tenants Company SF Occupied IBM Corporation 260,000 Google 200,000 Qualcomm 159,915 Markit on Demand, Inc. 96,267 Zayo Group 85,000 Solidfire Inc. 82,893 Rally Software 65,545 Real D 64,562 FreeWave 45,000 LogRhythm Inc. 39,787 Economic Performance - Y-O-Y Average Job Growth: 9,200 / 5.2% (May 2017) Net In-Migration (est): 3,500 - Boulder MSA Unemployment Rate: 2.1% (May 2017) - Rankings: #4 Fittest US City (Fitbit 2017) #1 Best Cities for Small Business Owners (ValuePenguin 2017) #1 Brain-Concentrated Metro Area (Bloomberg 2016) #1 The Best Cities for Entrepreneurs (Livability 2016) Overall Boulder Tech Tenants Total Square Feet 5,968,914 Tech Footprint 1,469,417 % of Inventory 25% TH STREET BOULDER

17 SALES COMPARABLES th Street, Boulder Property th Street 3333 Walnut Street 4865 Sterling Drive 5395 Pearl Parkway 5775 Flatiron Parkway Flatiron Business Park (21 Building Portfolio) Comparable # Date Sold May 2017 June 2015 Under Contract January 2017 November 16 May 2017 Size 33,945 SF 154,624 SF 29,630 SF 60,017 SF 95,869 SF 711,010 SF Price $13,442,220 $53,200,000 $5,422,290 $12,125,000 $23,050,000 $150,000,000 Price/SF $396 $344 $183 $202 $240 $211 Year Built Year Renovated

18 BOULDER, COLORADO FOR MORE INFORMATION PLEASE CONTACT: Pete Kelly, CCIM Becky Callan Gamble ext CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Created_November