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Lafayette Flex Building Sold to Local Investor Group
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1/4/2010 |
FOR IMMEDIATE RELEASE
The Colorado Group, Inc.
January 4, 2010
505 Stacy Court in the Lafayette Tech Center West recently sold to a local investment group, announced Wade Arnold with The Colorado Group. The 13,650 square foot commercial building sold for $1,295,000, with about an 8.25% cap rate.
“The important news about Stacy Court is that this is a standard real estate transaction, with good return projected,” explained Arnold. “In light of the doom and gloom of the last year, this transaction is encouraging. It shows that there are still regular, straight-forward, bank-financed real estate investments to be made. This was a solid transaction, with strong tenants and leases in place.”
The primary tenant at 505 Stacy Court is the Boulder Blimp Company, which manufactures giant advertising balloons and inflatables; the second tenant is a merchandising center for the Boy Scouts of America. Arnold said both are long-term tenants; Boulder Blimp has been on site since the building was constructed, 12 years ago.
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