Boulder office space linked to Apple sells for $15.5M

BOULDER — A Boulder office building recently occupied by employees with Apple Inc. (Nasdaq: AAPL) has sold for $15.5 million, Boulder County public records show.

The property at 5360 Sterling was sold in late November by Ivy 5360 Sterling Property LLC, a holding company registered to the New Jersey address of real estate investment outfit Ivy Realty.

Property records list the buyer as Alger Boulder I LLC, an entity registered to the address of a  Park Avenue skyscraper in New York. Investment firm Fred Alger Management LLC leases space at 360 Park Avenue South. Alger Boulder is a new entity that was just registered with the Colorado Secretary of State’s office in late October.

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Alger representatives did not respond to requests for comment Tuesday afternoon.

In December, Apple announced plans to build a $1 billion campus in Austin, Texas, establish new corporate sites in Seattle, San Diego and Culver City, California, and expand operations in Boulder, Pittsburgh and New York. This growth is part of the firm’s plans to create 20,000 jobs in the United States by 2023.

Apple announced plans to expand operations in Boulder nearly a year ago but has been silent about those plans since. BizWest learned in November that the Cupertino, California-based technology giant was operating out of the Sterling Drive offices.

Apple has declined in the past to disclose specific employee counts for its Boulder offices, but has provided a range of 100 to 250 employees. That headcount could jump to 250 to 500 by 2022.

The 20-year-old Sterling Drive building bought by Alger is roughly 40,000 square feet and sits on about two acres. Ivy bought the building in late 2017 for nearly $5.5 million, property records show. Earlier this year, Ivy bought adjacent commercial properties 5300 and 5305 Sterling for $8.75 million. In total, Ivy owns about a half-dozen commercial and industrial properties in Boulder, including several office buildings in Gunbarrel.