California investor buys Medtronic campus in Gunbarrel

BOULDER — For the second time since late 2020, the Medtronic Inc. campus in Boulder’s Gunbarrel neighborhood has changed hands. 

The seven-building, 453,565-square-foot flex-office campus at 5920 Longbow Drive and nearly eight acres of adjacent undeveloped land were bought last month for $125.5 million, Boulder County property records show. That’s more than triple what the property sold for just over a year ago.

Texas investment group Crescent Real Estate LLC, which bought the campus in December 2020 for $36.5 million through holding company GPIF MT Boulder LLC — the GPIF stands for GP Innovation Funds, a unit formed after the 2016…