California real estate firm buys Broomfield industrial property

BROOMFIELD — A 121,000-square-foot commercial property in a Broomfield industrial park has been sold to a real estate investment firm.

The property, which was purchased by California-based Stockbridge, includes two buildings located on 7.6 acres. The building at 224 Commerce St. totals 46,280 square feet, while 226 Commerce St. is 74,853 square feet, according to a CBRE news release.

The seller, Boulder-based Flagstaff Holdings – 224 LLC, was represented by CBRE’s Jeremy Ballenger, Tyler Carner, Jeremy Kroner and Jim Bolt.

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The sales price was $12.2 million, according to public records.

Commercial tenants at the property include PUREGAS, Stone Lighting and Spaceman USA. There are two upcoming lease expirations, according to CBRE.

“As Boulder’s rents have continued to climb, and we’ve seen no new industrial construction in the market since 2014, many industrial tenants are relocating to the Northwest corridor and seeking out properties like 224 (and) 226 Commerce Street,” Jeremy Kroner, vice president with CBRE in Boulder, said in a prepared statement. “There’s also organic growth within the greater Northwest area, and the property allows companies to secure more competitive rents while maintaining access to the area’s outstanding labor pool.”