Former Macy’s building in Boulder sells

BOULDER — The companies that are redeveloping the former Macy’s building in the Twenty Ninth Street shopping center have officially closed on the purchase of the building. 

Boulder 29 LLC, a joint venture between Denver-based developer Corum Real Estate Group and New York City-based Fair Street Partners, acquired the vacant building from Macy’s Real Estate Holdings LLC. The purchase price was not disclosed, and the sale has not yet been recorded by the Boulder County Clerk and Recorder’s Office. 

In January, the Boulder City Council approved plans to redevelop the department store into a three-story, 154,000-square-foot office building with 9,000 square feet of retail space on the ground floor. Construction is set to start in May, with delivery expected by the fourth quarter of 2023.

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“The adaptive reuse of this building will be an excellent example of how recycling and repurposing outdated structures can energize irreplaceable real estate,” said Eric Komppa, president of Corum Real Estate Group, in a prepared statement. “In addition to reutilizing the building’s shell, the project will capitalize on the structure’s high ceilings, large floorplates, and Flatiron vistas to create an environmentally efficient and distinctive office environment that is ideally suited for the wide variety of tenants in and drawn to the Boulder market.”