Broe Real Estate Group Acquires Three-Building Portfolio in Colorado Springs’ Premier Office Park

Broe Real Estate Group Acquires Three-Building Portfolio in Colorado Springs’ Premier Office Park

Aug. 8, 2018

Broe Real Estate Group, a wholly owned subsidiary of The Broe Group, today announced the purchase of a three building flex/office portfolio comprising more than 210,000 square feet located in Colorado Springs’ Briargate Office Park.

Briargate is a 9,600 acre master-planned community located in northern Colorado Springs. Within Briargate is Corporate Pointe – the first of the three building portfolio – an 115,260 square foot three-story multi-tenant office located on nearly eight acres at 1975 Research Parkway. The Tech Center West and Tech Center East twin structures comprise the balance of the portfolio and provide a total of 95,392 additional square feet of single-story flex/office buildings located at 8415 Explorer Drive and 2375 Telstar Drive, respectively.

“The Corporate Pointe and Tech Center acquisitions represent an excellent value add investment opportunity with an attractive basis in a market with strong fundamentals,” said Broe Real Estate Group CEO Doug Wells. “Colorado Springsis thriving and we hope to grow our presence in the market over time. This property has experienced significant leasing in the past 90 days with more than 76,000 square feet of renewals and new leases. Post-closing we will invest significant capital to improve common areas, landscaping and building systems.”

Life sciences will play a large role in the Briargate portfolio with Kaiser Permanente already occupying 22,000 square feet of Corporate Pointe and the pending addition a new long-term life science partner to Tech Center East. Located less than an hour from Denver, Briargate’s northern Colorado Springs location offers the ideal commercial property to unlock dual market access to greater Denver and the thriving El Paso County.

Broe Real Estate Group Completes Purchase of One of Largest Available Contiguous Blocks of Office Space in Boulder County

Broe Real Estate Group Completes Purchase of One of Largest Available Contiguous Blocks of Office Space in Boulder County

Jan. 3, 2018

DENVER – January 3, 2018 – Broe Real Estate Group, a private real estate investment firm, today confirmed the purchase of a 461,000 square foot office/lab facility located at 2452 Clover Basin Drive in Longmont, Colo.

The 24-acre business campus was constructed in 1989, and was renovated and expanded in 2001 to facilitate a long-term lease with Maxtor Corporation (now Seagate Technology). In 2007, Seagate vacated the property but continued to make lease payments until the expiration of their lease in 2016. Shortly thereafter, the property was transferred through a deed in lieu of foreclosure transaction to a special servicer.

“This investment is an opportunity to reposition an asset located in a thriving market that has been locked within a broken capital structure for nearly 10 years,” said Broe Real Estate Group CEO Doug Wells. “Broe [Real Estate Group] will transform the property by providing focused asset management and the capital investment to fund building improvements that will create a highly desirable, creative office campus environment.”

2452 Clover Basin is located off the end of CO 119, known as the Diagonal Highway, which connects Longmont with Boulder and provides a drive time of less than 20 minutes from the property to downtown Boulder. The property benefits from significant walkable retail amenities, nationwide low electricity costs and nationwide high speed ISP data service provided by utilities owned by the City of Longmont.

“Revitalization along the Diagonal means jobs and revenues that benefit us all,” said Jessica Erickson, Longmont Economic Development Partnership CEO. “We’re pleased to see a well-capitalized local developer investing in local assets to enhance local economic activity. The Broe Group has a history of investing in Northern Colorado and improving surrounding communities.”

About Broe Real Estate Group

Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 40-year history of value-add real estate investing in Northern Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com.