Tebo buys into O’Connor Group portfolio

BOULDER — Tebo Properties has purchased a “major” stake in a pair of commercial buildings in Boulder County owned by O’Connor Group, with an eye on filling about 30,000 square feet of vacant space in a Colorado Technology Center building in Louisville.

Tebo-O’Connor LLC, the new ownership group formed by the two Boulder-based companies, paid the O’Connor Group $7.52 million for the building at 331 S. 104th St., in Louisville and $4.042 million for 6685 Gunpark Drive in Gunbarrel.

Tebo Properties owner Stephen Tebo declined to specify what percentage stake his company has in the new entity. Tebo said O’Connor Group officials had some other investments the company wanted to make and were looking to take some cash out of the two recently sold properties.

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O’Connor Group president Chris Rebich could not be reached for comment.

The Gunbarrel property includes a 28,654-square-foot office building built in 1995. Among other businesses, Boulder Community Health has a family medicine facility in the building, and O’Connor Group’s offices are based there. Tebo said the building is 100 percent leased.

That property is adjacent to a 9.3-acre parcel O’Connor Group sold to developers in 2013 for construction of the Gunbarrel Center mixed-use development.

The Louisville building, meanwhile, is a roughly 107,000-square-foot building that is currently home to Zolo Technologies, Calfrac Well Services and AmideBio. Tebo said there’s about 30,000 of raw space in the building that’s never been finished that ownership will be looking to custom finish once a tenant is found.