Real Estate & Construction  June 6, 2022

No immediate changes expected at Flatiron Park deli building

BOULDER — Even with a new building owner, hungry Flatiron Park workers needn’t worry. 

There are no immediate plans to redevelop 2100 Central Ave. — home to The Deli, a lunchtime staple for workers in the business park — the new owner BioMed Realty LLC told BizWest. 

BioMed, which made Colorado history with its richest-ever $625 million Flatiron Park portfolio purchase in April, bought the Central Avenue office building last month for $17 million. 

“As we look for ongoing ways to contribute to Boulder’s thriving innovation community, acquiring 2100 Central Ave. in Flatiron Park provides an opportunity to continue leveraging our expertise in supporting leading companies as they scale in this growing market,” the company said in an emailed statement. “We do not have any near-term plans to change the current operations of the property, and we will honor the leases of existing tenants.” 

BioMed, a Blackstone portfolio company that owns about 13.7 million square feet of commercial space throughout the country, said it will pump $200 million into renovations and upgrades at Flatiron Park with the goal of increasing the presence of biotechnology companies within the campus. 

About 15% of Flatiron Park is home to life sciences tenants, and part of BioMed’s investment will be upgrading buildings to bring that percentage closer to 50%.

The building at 2100 Central Ave. already has a life-sciences tenant in InDevR Inc., which develops instruments for vaccine testing. 

Instant-coffee company Alpine Start Inc. also calls the space home. 

“What we focus on is innovation and technology clusters,” Jon Bergschneider, president of West Coast markets at BioMed Realty, told BizWest last month. “Historically those have been in the East and West Coast markets. It’s been with great interest and enthusiasm that we’ve continued to watch the Boulder area grow.”

The company’s initial Flatirons Park acquisition included roughly 1,000,000-square-foot spread across 22 buildings. 

It comes as no surprise that BioMed has increased its position in the business park. BioMed leaders told BizWest that they plan to continue to invest in Boulder commercial real estate.

“We think of this as an opportunity to enter the market with size and scale and by no means is [the Flatirons Park acquisition] the end of our investment tolerance,” Bergschneider said in an interview after the initial portfolio purchase. 

“Boulder has always been a market to watch, driven by highly educated talent, robust capital flow, an existing base of life science and tech pioneers and great quality of life,” BioMed vice president of leasing Mike Ruhl said in a prepared statement. “As demand for office and lab space in the region continues to grow, we believe BioMed’s integrated platform and expertise is uniquely suited to support companies as they continue to scale in this key market. We welcome the opportunity to contribute to a thriving community whose values directly align with our own.”

Apple Inc. (Nasdaq: AAPL), which has been cagey about the specifics of its Boulder presence, is suspected of taking over a large portion of formerly Crescent-owned real estate in Flatiron Park late last year. 

BOULDER — Even with a new building owner, hungry Flatiron Park workers needn’t worry. 

There are no immediate plans to redevelop 2100 Central Ave. — home to The Deli, a lunchtime staple for workers in the business park — the new owner BioMed Realty LLC told BizWest. 

BioMed, which made Colorado history with its richest-ever $625 million Flatiron Park portfolio purchase in April, bought the Central Avenue office building last month for $17 million. 

“As we look for ongoing ways to contribute to Boulder’s thriving innovation community, acquiring 2100 Central Ave. in Flatiron Park provides an opportunity to continue leveraging our expertise…

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