We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The buyer was 1500 Kansas Ave. Industrial Property LLC, which is owned by real estate investor Mark Stonehocker of Brighton.
Jeremy Ballenger and Tyler Carner of CBRE Inc., represented the seller in the deal, while Alec Rhodes, Tyler Smith and Aaron Valdez of Cassidy Turley represented the buyer.
Ballenger said the property at 1500 Kansas Ave. – which includes four buildings and a total of 57,600 square feet of office and light industrial space on 4.7 acres – is 100-percent leased by a total of 11 tenants. Two of the bigger tenants include Workforce Boulder County and Sage Electronic Engineering LLC.
Rhodes said the buyer plans to continue operating the property as is.
“It’s a well-stabilized property with some good potential upside,” Rhodes said.