San Francisco investors buy 3 Boulder offices for $28M

BOULDER — Graham Street Realty, a San Francisco-based real estate investment firm, has purchased a three-building portfolio of office spaces in Boulder for a combined $28 million.

The nearly 115,000-square-foot portfolio includes buildings at 3005 Center Green Drive, 2945 Wilderness Place and 5665 Flatiron Parkway.

The Center Green Drive property sold for $13 million, the Flatiron Parkway building for $8 million and the Wilderness Place building for $7 million, Boulder County property records show.

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The seller was SteelWave, a California real estate management and investment firm formerly called Legacy Partners Commercial. That company bought the three Boulder office buildings in 2014 for a total of $18 million, according to property records.

“When you think about Boulder’s lifestyle attributes, entrepreneurial spirit, and natural beauty, it really feels like an unparalleled place to live and work, and we don’t see that changing,” Jay Snover, a director with Graham Street Realty, said in prepared statement. “This deal represented a unique opportunity to purchase a collection of institutionally maintained properties that cater to small and large office users as well as lab tenants.”

The building at 2945 Wilderness Place is fully leased to biotech firm, SomaLogic, Inc.

“The Graham Street Realty team plans to continue the prior ownership’s building renovation program and will build out a range of contemporary creative office suites to fill remaining vacancies” at the Center Green Drive and Flatiron Parkway buildings, according to Graham Street news release.