Trammell Crow to buy CareerTrack site

BOULDER — The Trammell Crow Co. has entered into a contract to buy CareerTrack Inc.’s real estate here — 3080, 3085 and 3090 Center Green Drive — for an undisclosed sum.

The three buildings would be an investment purchase to be leased, said Jim Sandoz of Denver-based Trammell Crow.

“It’s the best campus setting available in the city of Boulder, and we view it as a wonderful opportunity,” he said. “A lot of tenants up there have expressed interest in it.”

The three buildings total about 105,000 square feet combined.

The property has been under contract for about a month, and Trammell Crow expects to close about the end of July. CareerTrack may be out sooner: Washington, D.C.-based Thayer Capital Partners, a venture capital firm, is purchasing the Boulder-based firm and plans to close operations here, where 227 people are employed.

Andrew Freeman of The Colorado Group said the buildings probably will be sold for $140 to $170 a square foot because of the location and quality. The buildings — especially the “headquarters” building — are high-end and attractive, he said, and the warehouse building could be built-out as office space. Trammell Crow reportedly is working with OZ Architecture on a possible expansion and/or renovation plan for the site.

“One of the buildings is definitely a Class-A building,” Sandoz said. “Another would be B-plus and the third building is actually a warehouse — and it, of course, is one of the nicest warehouses I’ve ever seen. The buildings are just in excellent condition, and they are truly executive quality.”

Sandoz said any renovation would depend on tenant requirements. He said it was difficult to say whether a single tenant would take the combined space, but that the individual buildings would work well for single tenants. A wide variety of companies have shown interest, he said, and most have been Boulder-based.

“There is so much interest right now, it’s overwhelming right now,” Sandoz said.

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