Chernoff Boulder Properties buys 3 Longmont office buildings from Goff Capital
LONGMONT — Chernoff Boulder Properties recently paid a little more than $4.4 million for a trio of commercial buildings in Longmont that the firm plans to give a facelift and continue leasing.
Boulder-based Chernoff, led by entrepreneur Seth Chernoff, bought the properties — 1960 Ken Pratt Blvd., 1860 Industrial Circle and 1880 Industrial Circle — from Goff Capital Partners. All were part of Goff’s vast The Campus at Longmont Portfolio of more than 30 buildings buildings purchased in 2012 for a combined $58.3 million.
Chernoff said Monday that he loves the buildings’ location along Ken Pratt Boulevard and next to the new Village at the Peaks shopping center. He added that the buildings’ interiors have nice layouts. The major changes planned entail sprucing up the 33-year-old structures’ nondescript facades to give them a more modern feel.
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“We are going to be upgrading these buildings to be more consistent with the trend of where Longmont is going,” Chernoff said.
The two buildings on Industrial are each roughly 14,400 square feet, while the building on Ken Pratt is 19,200.
Tenants include the Longmont Times-Call newspaper and Kidney Center of Longmont, as well as Imagine!, Medically-Based Fitness, Bluip Inc., and iCardiac Technologies.
Chernoff said the three buildings combined are about 70 percent leased, though the remainder includes only two spaces.
Chernoff Boulder Properties’ focus, Chernoff said, is on buying properties “that have great potential but require vision.” The company last year won the Governor’s Award for Downtown Excellence from Downtown Colorado Inc., for its revamp of the 16,000-square-foot building at 400 E. Simpson St. in Lafayette now known as Lafayette Commons. That renovation included a rebuild of the century-old building’s historic façade and the creation of 22 office suites.
Chernoff Boulder Properties owns property in Gunbarrel and Lafayette, with the latest acquisition its first in Longmont.
“We love what’s happening in Longmont and want to be part of it,” Chernoff said.
Brokers Dryden Dunsmore and Hunter Barto of Dean Callan and Co., represented Chernoff in the acquisition. The Chernoff buildings will no longer be considered part of The Campus at Longmont.
Goff bought the 1.2 million-square-foot The Campus at Longmont portfolio — most of which sits across Ken Pratt to the south of the buildings bought by Chernoff — from Circle Capital Longmont LLC and still owns most of it according to county records. A Goff official could not be reached for comment Monday.
