Investors trade Cambrex’s Longmont pharmaceutical campus

LONGMONT — A pair of out-of-state investment outfits traded a pair of Longmont flex buildings that are home to  Cambrex Corp. (NYSE: CBM) pharmaceutical manufacturing operations. 

Barings LLC, a North Carolina-based global investor with a finger in the commercial real estate pot, bought the nearly 80,000-square-foot campus, known as the Trade Centre, for $30 million through a holding company called TR Trade Centre LLC.

The seller was TFG Trade Centre Property LLC, an affiliate of Boston’s Tritower Financial Group LLP.

Cambrex came to occupy the offices and labs at 2620 and 2600 Trade Centre Ave. in 2018, after the acquisition of Avista Pharma Solutions Inc.

The Longmont site, according to Cambrex, is home to about 90 employees who mainly deal in the manufacturing of small-molecule drugs. 

Cambrex has invested more than $15 million in improvements in the facility’s labs, according to Tritower, which bought the campus for $18 million in 2018.

While the Trade Centre deal appears to be Barings LLC’s entry into the Boulder County commercial real estate market, Tritower is no stranger to flipping pharmaceutical properties for big returns.

The investor bought Array BioPharma’s campus in Boulder for $52.3 million in 2018. The four-building property at 3200 Walnut St. totals nearly 150,000 square feet.

Then in 2021, when the campus was occupied by Pfizer Inc. (NYSE: PFE) after its acquisition of Array, Tritower sold the campus for $99 million to Atlanta-based investment firm Invesco Ltd.

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