Boulder office property renovation wraps up

Colorado Real Estate Journal

June 17-30, 2020
by Jenna Walters

The renovation of a 37-year-old Boulder office building, which updated features and added square footage, is complete.

The two-building office project at 2995 Center Green Court underwent an extensive renovation changing both the interior and exterior façade. Owner Graham Street Realty, which purchased the property two years ago, initiated the project. Studio Architecture was the architect, Alcorn Construction was the general contractor, and Paramount Property Co. managed the construction. CBRE’s Erik Abrahamson and Jeremy Kroner handle leasing of the property for Graham Street Realty.

The property was built in 1983, with little to no previous renovations. According to Abrahamson, the renovation brought it up-to-date to fit the growing needs of prospective tenants.

“The owner always intended to renovate the buildings, as they were very dated and in need of significant modernization, despite a very strong, central Boulder location,” Abrahamson said. “Upon acquiring the two-building project, and with the guidance of Studio Architecture, Graham Street realized that the overall rentable square footage could be grown by approximately 10% by merging the two structures into a single, larger building, offering more efficient leasing spans and floor-to-ceiling window lines.”

The renovation added approximately 4,700 square feet to the existing 28,451 sf for a total of 33,151 sf. Features added during the renovation include an elevator to serve the newly constructed central lobby, a fire sprinkler system and a new glass curtain wall across a significant portion of the building’s usable area. A second-floor deck and new landscaping with an outdoor amenity area also were added.

The property can accommodate up to four office tenants at a time, or a single-tenant user for up to approximately 30,000 sf. Abrahamson said there are currently two tenants leased to the property, with other prospective tenants showing significant interest. With its newly completed renovation and attractive location, he’s confident the team will see continued tenant growth.

Article originally published in the June 17-30, 2020 edition of the Colorado Real Estate Journal