Real Estate & Construction  February 11, 2019

Two Boulder offices bought for a combined $21M

BOULDER — The Walnut Business Center and Spine Road Business Center, both office buildings in Boulder, were sold as part of a large commercial real estate portfolio transaction to an investment firm for a combined $21 milion.

Etkin Johnson Real Estate Partners, a Denver-based commercial real estate investment and development company, sold the offices to Berkeley Partners as a 19-property package. The value of the deal was $247.5 million. This group of properties, called the Colorado Industrial Portfolio and spread from Colorado Springs to metro Denver to Boulder County, are the first owned by Berkeley Partners in Colorado.

While BizWest reported the portfolio transaction in January, the individual sales prices of the Walnut Business Center and Spine Road Business Center were not known at the time.

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Boulder County public records now show the roughly 26,000-square-foot Walnut Business Center at 4725 Walnut Street sold for just under $6.8 million while the 100,000-square-foot Spine Road Business Center at 6325 Spine Road sold for more than $14.2 million.

Berkeley Partners purchased the offices using an entity called BPAZ Holdings 23 LLC. The company registered that name, along with 19 similarly named LLCs, in late December.

BOULDER — The Walnut Business Center and Spine Road Business Center, both office buildings in Boulder, were sold as part of a large commercial real estate portfolio transaction to an investment firm for a combined $21 milion.

Etkin Johnson Real Estate Partners, a Denver-based commercial real estate investment and development company, sold the offices to Berkeley Partners as a 19-property package. The value of the deal was $247.5 million. This group of properties, called the Colorado Industrial Portfolio and spread from Colorado Springs to metro Denver to Boulder County, are the first owned by Berkeley…

Lucas High
A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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