Boulder firm buys downtown Louisville property for $3.7 million

LOUISVILLE — Split Mountain LLC, a property-management and investment company in Boulder, paid $3.7 million recently for an office building and parking lot in the core of downtown Louisville.

Using the entity Split Mountain Commercial 4 LLC, Split Mountain bought the properties — 950 Spruce St. and 725 Front St. — from Delta Holdings LLC, an entity formed by Boulder developer Lou DellaCava.

Split Mountain manager Erik Rudolph on Monday declined comment on the purchase or plans for the site. An official with the Louisville planning department, meanwhile, said the office had received no applications or other communication regarding potential development of the site.

The parcel at 950 Spruce, according to Boulder County property records, includes a 14,352-square-foot office building that houses multiple tenants — including a jeweler, a law firm and two architecture firms — at the southeast corner of Spruce and Front streets. The 725 Front Parcel is a 0.3-acre parking lot directly to the south of the office building.

The office building is the former Louisville Public Library, which DellaCava bought from the city in 2006 for $1.7 million.

Split Mountain, according to the company’s website, leases mostly residential properties in the Boulder and Denver areas, though it does feature a few commercial properties on its site, including 2144 N. Main St. in Longmont — a 15,000-square-foot retail center purchased by the company from DellaCava in 2012 that includes an East Moon Asian Bistro restaurant and a NextCare Urgent Care center.