The Campus at Longmont offices flipped for $17.8M

LONGMONT — A quartet of office buildings on Trade Centre Avenue in Longmont recently was  sold by Balfour Pacific Capital Inc., a real estate and private-equity firm based in Vancouver, Canada, for $17.8 million.

The properties at 2400, 2410, 2420 and 2500 Trade Center Ave., which are within The Campus at Longmont business park in the southwest corner of the city, total roughly 120,000 square feet.

Trade Centre Avenue Portfolio LLC, an entity registered to the California address of wealth management and real estate investment firm Manchester Capital Management LLC, was the buyer, Boulder County public records show.

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According to the firm’s website, MCM owns commercial and mixed-use spaces in Denver, San Francisco, Oregon and Washington. 

Entities affiliated with Balfour Capital bought 27 commercial buildings in the Campus at Longmont for $69.6 million in 2017. Those buildings, built in 1989, totalled about 870,000 square feet.

In the years since, the firm has sold off some of its Longmont properties.

Last September the company sold six buildings in The Campus at Longmont for a total $28.73 million. Four of those buildings — 1823 Sunset St., 1833 Sunset St., 1375 Ken Pratt Blvd. and 2101 Ken Pratt Blvd. — were sold to Chernoff Boulder properties for just over $9 million.

Chernoff then bought a Balfour property at 1820 Lefthand Circle for $3.8 million in May 2019.

“Since acquisition, we have executed on our wholesale to retail divestment strategy, increased rental rates and improved our tenant roster,” Balfour managing partner Mark Scott said.

In total, Balfour has sold 12 of the firm’s 27 buildings in the Longmont office park campus.