A business park in Boulder encompassing nearly two dozen buildings has changed hands, representing one of the largest transactions of its kind in the state.
The San Diego-based BioMed Realty, a real estate investment trust company, has acquired Boulder’s Flatiron Business Park, located at 2545 Central Avenue, for around $625 million.
That master-planned park, located on the east side of Boulder, takes in 1 million square feet with a series of attractively designed, high-tech structures located in a walkable community setting.
Since its launch more than four decades ago the park has attracted any number of life science and technology firms and is currently around 90% leased.
A press release issued by BioMed Realty said that by acquiring the park, the company will have a “unique opportunity to expand its portfolio beyond its existing core markets and invest in the vibrant, growing, talent-rich community of Boulder.”
Jon Bergschneider, president of BioMed’s West coast markets, said the company plans to eventually invest upwards of $200 million in the Flatirons park.
The Flatirons acquisition will be added to a BioMed portfolio that includes nearly 14 million square feet of lab and office real estate in both the U.S. and United Kingdom.
By Garry Boulard
