$12.2M Paid By Calif. Company For Broomfield Industrial Building

BROOMFIELD, CO – A California-based company has purchased a Broomfield industrial property for $12.2 million.

As first reported in Colorado Real Estate Journal, San Francisco-based Stockbridge Real Estate bought 224 and 226 Commerce St. from Boulder-based Flagstaff Holdings-224 LLC. The buyer paid $100.72 per square foot for the 121,133-sf property near U.S. Highway 36 in Broomfield.

Subleased space in the buildings is being marketed by CBRE in Boulder, which also represented the seller in the sale, the magazine reported.

“As Boulder’s rents have continued to climb and we’ve seen no new industrial construction in the market since 2014, many industrial tenants are relocating to the northwest corridor and seeking out properties like 224-226 Commerce St.," Jeremy Kroner, CBRE vice president told the magazine. "There’s also organic growth within the greater northwest area, and the property allows companies to secure more competitive rents while maintaining access to the area’s outstanding labor pool.”

READ MORE in Colorado Real Estate Journal

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