Goff Capital Partners completed the purchase of a 19 building office complex in Boulder, Colorado from the Flatiron Park Co. for $60.75 million, or $99 per square foot, according to a CoStar report. Flatiron Park Co. built, owned and managed the park, a complex built in stages between the 1970s and the late 1990s.
"It was never on the market. It was a situation where we knew some of the folks, and they had expressed some interest," Flatiron Park Co. Vice President and General Manager Dick Hedges said in a Boulder County Business Report article. "We're very happy these are the guys that bought the property," Hedges said. "They've indicated they're going to run the park as we have in the past, and they've taken on a number of our employees, which we're very happy about. There will be continuity."
NewOptions Partners represented Flatiron Park Co. in the transaction. Goff Capital is expected to redevelop and reinvest in some of the properties, according to information provided by Hedges and Scott Garel, a senior vice president with Grubb & Ellis Co., which oversees leasing of the properties.
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