News

Flatiron Park Building Changes Hands

Boulder, COLORADO – August 4, 2017

In one of Boulder’s largest commercial real estate transactions this year, 5718 Central
Avenue was sold to GPIF Flatiron Investments LLC for $9,975,000. The building was
previously leased to Markit on Demand which vacated in December after being in the
building for over ten years. Built in 1990, the two-story office/flex building sits on 2.76
acres. The new owners plan to upgrade the systems and infrastructure of the asset, as
well as complete both interior and exterior cosmetic upgrades. Steve Eaton, Senior Vice
President of Crescent, said that they purchased the building because of its high quality
overall condition, its proximity to other buildings that they own with Flatiron Park and
the ability to subdivide the building. In addition, Crescent has limited large block
availability with its portfolio, and continues to see strong demand in east Boulder for
larger floor plate users.

Jason Kruse and Scot Smith at the Colorado Group handled the transaction. Kruse said,
“We had property interest from both investors and owner occupants. Crescent should
have good leasing activity as larger floorplates in Boulder are rare.”

For more information contact Jason Kruse at 303-449-213, ext. 149