Washington Capital, not Unico, buyer of commercial building

BOULDER —  An investment group made up of construction tradesmen have acquired a 105,000-square-foot commercial building at 4775 Walnut St. in Boulder.

The purchase was made by Seattle-based Washington Capital Management Inc. through a real estate equity fund on behalf of the group made up of investors mainly on the West Coast, according to Jenny Gage, an asset manager with Washington Capital.

Washington Capital paid $22.1 million for the two-story building at 4775 Walnut St. on 9.3 acres earlier this month from LC One LLC, registered to William Reynolds, founder of the W.W. Reynolds Cos. in Boulder.

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LC One LLC had bought the building in 2015 from Crestone Real Estate LLC for $16 million. Crestone had bought the building in 2008 for $7.3 million. The building, near the Tierra Centre Business Park, was constructed in 1986.

Editor’s note: A story published Sept. 21 incorrectly named the buyer of the building as Unico Properties. The story has been removed from BizWest’s website and its archives. BizWest regrets the error.