Value-Add Investment Opportunity 207 Canyon...

Value-Add Investment Opportunity

207 Canyon Blvd.Boulder CO 80302

$3,000,000 $207psf14,466 square foot office building consisting of 4 office condos

2919 West 17th Avenue, #204, Longmont, CO 80503www.primeREservices.com

John Hunter, JD303-717-4651

[email protected]

Building Size: 14,466 sf building

Land Area: 1.13 acre (49,031 sf) (lot shared with 14 residential condos)

Association: Yes. Voting control of OA

Zoning: Residential Mixed-1 (RMX-1)

FAR: .42:1

Parking: 29 spots; mix of covered and open

Year Built: 1979

Construction Type: Wood frame

Vacant: 2,350 sf

High Speed Data: Yes

Number of Floors: 2

Price: $3,000,000 ( incl. all 4 suites and common areas)

207 Canyon Blvd.EXECuTiVE SuMMARY

John Hunter, JD303-717-4651 • [email protected]

A uNiQuE OPPORTuNiTYPrime Real Estate Services has been exclusively retained to sell 207 Canyon Boulevard, a ±14,466 square

foot, two-story, multi-tenant office building located West of Downtown in Boulder, Colorado. The property fea-

tures abundant windows, men’s and women’s restrooms on each floor, and off-street parking. The property is

two blocks from the Boulder County Justice Center, and several blocks from Downtown Boulder and the Pearl

Street Mall. Numerous amenities are within walking distance including world class shopping, restaurants, coffee

shops, and the university of Colorado campus. This offering provides an investor the ability to acquire a value-

add property in Central Boulder, with an existing cash flow, priced significantly below replacement cost.

207 Canyon Blvd.HiSTORY AND PROPERTY DETAiLS


Constructed in 1979, 207 Canyon Blvd. is a 14,466 square foot office building located in

West Boulder, close to the entrance to Boulder Canyon. The property, which consists of

four separately deeded office condos, is located on a large lot of approximately 49,031

square feet (1.13 acres) that is shared with privately owned residential condos on the

back half of the lot. The owner of the commercial side of the property controls the Owners

Association.

Situated among small professional office buildings and privately owned residences and

apartments, the building is located two blocks from the Boulder County Justice Center, 7

blocks from the Pearl Street Mall and a short walk to The university of Colorado.

The property is steps aways from the Boulder Creek Bike Path and Settlers Park

Trailhead, and is located adjacent to a bus stop on Canyon Blvd. 207 Canyon is one of

the last value-add, large office properties in Central Boulder.

14,466 SF. OFFiCE BuiLDiNg

Consisting of 4 separately deeded office condominiums.

Suite 201: 3,452 sf + 365 sf common area*




* common are sf based on pro rata share of entire 1,384 sf interior common area


OTHER FLOOR PLANS AVAiLABLE uPON REQuEST

207 Canyon Blvd.SAMPLE FLOOR PLAN

SuiTE 3013,309 sq. ft. mix of private offices, open collaborative workspaces, kitchenette and conference room.

207 Canyon Blvd.MARKET ANALYSiS


The commercial real estate market in Downtown Boulder is strong, with numerous projects ongoing and more on the horizon. Rents for true Class A space in the heart of Down-town have steadily increased to above pre-recession levels, with some properties leasing at rates in excess of $40 psf NNN. Within the City of Boulder there are approximately 6.5 million square feet of rentable office space. According to Metro Denver Economic Development Corporation, em-ployment in the Boulder MSA increased 1.8 percent between February 2014 and 2015, representing the addition of 3,100 jobs. Significant improvements during the first quarter of 2015 have been widely reported in the Boulder commercial market, with declining vacancy rates (less than 6%) and ris-ing average lease rates fueled by increasing demand from Boulder’s Creative Class and start-ups. This trend will con-tinue with spin-offs from the oncoming google Plex, a three-building, 330,000-square-foot office complex to be located on 30th and Pearl, forecasted to increase the number of google employees in the City from 300 to 1,500.

CuRRENT DOWNTOWN BOuLDER DEVELOPMENT PROJECTS

• 900 Walnut St. — The “civic use pad” adjacent to the St. Julien Hotel & Spa, an 8,000-square-foot community and event space with hotel rooms above.

• 1301 Walnut St. — a 62,000-square-foot infill project at the site of the existing Wencel Building.

• 1707 Walnut St. — a three-story infill redevelopment of the former 7-Eleven site to include 26 apartments and below-grade parking.

• 909 Walnut St. — a three-story, mixed-use building.

• 1023 Walnut St. and 1048 Pearl St. — PearlWest, a 160,000-square-foot redevelopment to include offices, retail and restaurant uses, a theater and an automated parking garage.

• 1738 Pearl St. — a three-level addition to the property that houses Frasca Food & Wine.

• 1750 14th St. — The James Concept, a 64,400-square-foot redevelopment to include commercial and micro-office uses, 43 residential units and “micro-lofts” at the James TravelPoints building.

• 2049 Pearl St. — 21 Pearl, a project to include five pre-sold townhomes with rooftop decks.

• 601 Canyon Blvd. — Four pre-sold townhomes.

• Walnut St. and 22nd — Dwell 22, a four-townhome project.

• 901 Pearl St. — a 21,000-square-foot, three-story devel-opment with four condos and a ground-floor restaurant.

207 Canyon Blvd.PREMiuM LOCATiON


BOuLDER COLORADOA DiVERSE, uNiQuE ECONOMY

Home to a world-class research university, a diverse mix of key industry clusters, major government research facilities, visionary entrepreneurs and the nation’s most highly educated population, Boulder’s economy is truly unique in size and diversity. Key Boulder highlights include:

• 7,000 employers (5 or more employees)

• 94,000 jobs; 550+ primary employers

• 103,163 population

• Top research university; 17 federally-funded research labs

• Nationally-recognized center of entrepreneurship and innovation

• Leading industry clusters, including aerospace, bioscience, cleantech, iT, natural products and outdoor recreation

207 Canyon Blvd.THE BEST OF BOTH WORLDS


A ViBRANT CuLTuRE AND PROSPEROuS ECONOMY

inc. Magazine calls Boulder “an entrepreneurial powerhouse like no other”. in 2010, the city had six times more high-tech start-ups per capita than the nation’s average, according to an August 2013 study by the Kauffman Foundation--twice as many per capita as runner-up San Jose-Sunnyvale in California. With over 300 days of annual sunshine, miles of hiking and biking trails, and world class eateries and shopping, it’s no wonder Men’s Journal ranked Boulder the Number One City to live in America.

#2 “Top Cities for Well Being” – gallup-Healthways Well-Being index, March 2014 The Best College Towns in America – gQ, June 2014 America’s Best Towns for July 4th – TravelandLeisure.com, June 2014 10Best: Bike-friendly cities – uSAToday.com, July 2014#2 “Top Cities for Well Being” – gallup-Healthways Well-Being index, March 2013

#4 “The Best Clubs in America” (Fox Theater) – Rolling Stone, April 2013Outstanding Wine Program (Frasca Food and Wine) – James Beard Foundation Award Winner, May 2013Ten Best Foodie Streets in America (Pearl Street) – Food & Wine, May 2013#2 “Top urban Bike Paths” – uSA Today, July 23, 2013America’s Best College Towns – Travel & Leisure, December 2013

BOuLDER TOPS THE LiSTS Boulder, Colorado has won many accolades for its recreation, culture, health and overall quality of life.

207 Canyon Blvd.iN THE HEART OF iT ALL


207 CANYON BLVD.

DOWNTOWN BOuLDERAND ViCiNiTY

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