iCrowdNewswire Feb 15, 2021 11:09 AM ET
San Francisco-based commercial real estate firm Graham Street Realty (GSR) has sold 2945 Wilderness Place. The transaction closed on January 22nd.
“We were able to take advantage of the strong demand for life science properties despite the challenging economic environment,” said David Messing, managing partner at Graham Street Realty.
GSR purchased the asset in February 2019 as a part of a three-property portfolio. The portfolio comprised the properties located at 3005 Center Green Drive, 2945 Wilderness Place, and 5665 Flatiron Parkway, totaling 114,862 square feet of leasable office and lab space.
2945 Wilderness Place is a two-story, Class B office and lab building comprising both traditional office and lab improvements. It features ample surface parking and is within walking distance of nearby restaurants. This property is fully leased to a single biotechnology tenant and has maintained 100% occupancy for over 20 years while functioning as a life science building. During its ownership, GSR renewed the existing tenant for an additional term.
The Boulder submarket continues to see high demand for office space and is home to new and expanding companies in the technology, business service, and consumer products industries. The team was able to capitalize on the strong demand for life sciences office spaces, despite a more challenging economic environment as a result of the coronavirus pandemic.
ABOUT GRAHAM STREET REALTY
Graham Street Realty (GSR) is a private, San Francisco-based commercial real estate investment firm with assets in the Western United States. Since its founding in 2007, the firm’s focus has been on value-add investment in the multi-tenant office building market. It currently holds more than 1.1 million square feet of commercial office space. To learn more, visit www.grahamstreetrealty.com.