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.

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“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.”