Page 16 —
COLORADO REAL ESTATE JOURNAL
— December 3-December 16, 2014
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While the downtown Boulder
market is particularly tight, devel-
oper The Nichols Partnership said
PearlWest’s leasing activity has
more to do with the product and
location than with market condi-
tions.
“I’m not surprised at how high
the leasing activity has been as the
location, large office floor plates
and amenities of this property are
unparalleled in the area,” Randy
Nichols of TheNichols Partnership
said in a statement.
“There aren’t many opportuni-
ties for 30,000 contiguous square
feet in a Class A property in Boul-
der,” commented Dan Schuetz,
project manager. “Tenants looking
for floor plates that size in the Boul-
dermarket generally have tomove
to Interlocken. Our building offers
the opportunity to stay right in the
heart of Boulder.”
Schuetz said the fact that the
project is seeking LEED Platinum
certification also is important to a
number of users.
“It’s important to tenants to have
a lower impact on the environment
while also offering their employees
a state-of-the-art workspace that
encourages innovation and cre-
ativity,” agreed Lynda Gibbons of
Gibbons-White Inc., who handles
leasing for the development.
PearlWest is a redevelopment of
the former Daily Camera property
at 11th and Pearl streets. Tenants
will move into the building in the
second quarter of 2016. The four-
storyprojectwill includemore than
127,000 sf of office and retail space,
a rooftop garden, public plaza on
Pearl Street, an indiemovie theater,
Flatirons views, dozens of bicycle
parkingspots, showersandthe first
fully automated parking garage in
theWestern United States.
The project, being built by JE
Dunn Construction, has two
remaining large-floor-plate spaces
of approximately 30,000 and 49,000
sf.
“The location is center ice for
downtown Boulder, on the west
end of Pearl Street. It’s where
everybody wants to be,” Schuetz
commented.
Other News
n
Melody Munson
purchased
the former Tres Margaritas build-
ing at 2430 Main St. in Longmont.
The approximately 8,100-square-
foot building will be used for sew-
ing classes.
Morales-Valdovinos LLC
sold
the property for $775,000.
Tom Hill
and
Eric Rutherford
of
Wright Kingdom Real Estate,
along with
Jay Landt
of
Colliers
International,
were the listing bro-
kers.
Tres Margaritas operates in a
neighboring building it acquired
last year.
n
Paige Coker Heiman
of
Acquire Inc. represented Boulder
County restaurateur
Bradford
Heap
in a 10-year lease for Pasta-
Vino’s former space at 1043 Pearl
St. Heap plans a new seafood res-
taurant in the 3,152-sf space.
Snyder Family LLLP
is the
landlord.
s
rado,” Call said.
Patrick O’Donnell of Realtec-
Loveland represented the seller,
SK Sun LLC.
“We received a tremendous
amount of interest andwere under
contract at full price within a cou-
ple weeks of listing the buildings,”
O’Donnell said. “The deal enabled
the selling partnership to accom-
plish their goals while presenting
an opportunity to the buyer to add
value over a two- to four-year hori-
zon.”
The larger of the two build-
ings was constructed in 1996. The
smaller building was added in
1999.
Other News
n
McWhinney
has started pub-
lic improvements to the 15-acre
Bass Pro Shops
site in Centerra.
McWhinney will deliver the site
at the northeast corner of Inter-
state 25 and U.S. Highway 34 next
spring. The 100,000-square-foot
store is expected to break ground
at that time and be completed in
summer 2016.
n
Walk About LLC,
led by
Ric
Hansen
of
Bighorn Develop-
ment,
acquired 81 single-family
lots in Cedar Estates in Pierce with
plans to complete improvements
and sell finished lots to developers.
The lots comprise approximately
37.7 acres and sold for $462,500.
JWT Enterprises LLC
was the
seller.
Hansen, a longtime Northern
Colorado developer, said he likes
the property’s location between
Greeley, Fort Collins and Chey-
enne, Wyoming.
“There is a lot of oil activitygoing
on there and a need for housing,”
he said, adding the inventory of
finished lots in Weld County has
dried up and vacancy rates both
for single- and multifamily hous-
ing are very low.
“I think the timing is perfect for
revitalizing an old subdivision.
We’re going to easily match the
lowest price point that people can
accomplish in this market for new
housing,” Hansen said.
Tom Reznik
of
Realtec-Greeley
was the listing broker.
n
Genesis Hospitality,
a hand-
crafted-millwork company, sub-
leased20,000 sf ofwarehouse space
in Fort Collins from
Advanced
Energy.
Genesiswill use the space,which
is located in the 244,561-sf Water-
pik building at 1730 E. Prospect
Road, for storage.
Jared Goodman
and
Jason Ells
of
Cassidy Turley,
alongwith
Mike
Deatly
and
Todd Roebken
of
JLL,
represented the sublessor and sub-
lessee.
n
Friesian Group LLC
leased
2,275 sf of retail space at 2909 E.
Harmony Road, Unit 102, in Fort
Collins, for a restaurant use.
Jerry Chilson
of
Sperry Van
Ness/The Group Commercial
rep-
resented the tenant.
Aki Palmer
and
Jason Ells
of
Cassidy Turley
represented the landlord,
REK
Investments LLC
and
EAK Invest-
ments LLC.
n
Surfside 7,
a downtown Fort
Collins restaurant, leased 1,850 sf
of space at 238 Linden St. in Fort
Collins andwill bemoving fromits
existing space around the corner.
Cole Herk
of
Cassidy Turley
rep-
resented the tenant.
Patty Spencer
of
Commercial Real Estate Bro-
kers LLC
represented the landlord,
Rolandi Properties LLC.
n
Physicians Greeley LLP,
a
general medical practice, leased
1,180 sf of retail space at 257 John-
stown Center Drive, Unit 110, in
Johnstown from
Johnstown Sta-
tion Investors Ltd. LLLP.
Cobey Wess
of
Sperry Van
Ness/The Group Commer-
cial
handled both sides of the
transaction.
s
The property at 3850-3880 N. Grant St. in Loveland is leased to medical
tenants.
