Louisville office building sells for $4M

LOUISVILLE — The investment group Front Street Partners-JZR and FWR LLC has purchased an office/retail building in Old Town Louisville for $4 million, or about $200 per square foot.

Front Street purchased the 19,874-square foot building at 726 Front St. from B C Properties LTD Liability Co. off-market, a deal in which the property was never publically listed for sale.

The building’s tenants include Atlassian, an Australian company creating software for corporate teams, and Term Scout, a company providing sales intelligence based on market data. Scott Crabtree, broker for The Colorado Group, represented the buyer. The seller’s agent was Terry Kruegel of Kruegel Commercial.

“Although the asset never made it to market, the price reflects the current trend of commercial real estate in the region, “Crabtree said. “Like Boulder, Louisville is a niche market. It’s a great location for long-term investment.”