Out-of-town investors trade Interlocken office building

BROOMFIELD — An East Coast commercial real estate investment firm has offloaded a large office building at 370 Interlocken Blvd. to an investor from the West Coast for $34.45 million.

IPXI Interlocken Investors LLC, a holding company operated by Pennsylvania’s Equus Capital Partners, was the seller and URG 370 Interlocken LLC, an entity controlled by Seattle-based real estate developer and investor Urban Renaissance Group, was the buyer of the 150,656-square-foot Class A office building along the U.S. Highway 36 corridor, Broomfield property records show. 

Equus bought the property in 2018 for $29 million.

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The six-story building, completed in 1998, underwent common area improvements in 2013 and 2017. The upgrades included a redesigned two-story atrium lobby and renovated common area corridors and bathrooms.

Building amenities include a tenant lounge, fitness center, bike lab and Wi-Fi accessibility.

Tenants include Canadian design consultancy Stantec Inc. (NYSE: STN).

Equus appears to be cashing in on Boulder Valley investments of late. 

The company offloaded a pair of flex-office spaces at 248 Centennial Parkway and 1172 Century Place in Louisville in late 2021. The buildings, branded as Link @ Louisville, were bought by California’s Vista Investment Group LLC for $20.15 million. 

Meanwhile, the Pennsylvania company is bolstering its Northern Colorado portfolio, having purchased the  Bucking Horse Apartments community in Fort Collins for $101 million last summer.The 370 Interlocken deal is Urban Renaissance Group’s first in the Boulder Valley, but the company’s holdings include several properties in Denver, including the Speer Boulevard offices that are home to the KDVR-Fox 31 and KWGN-2 television stations.