By Alicia Wallace, Camera Business Writer
Flagstaff Holdings, a Boulder-based real estate investment firm, recently acquired a second industrial building on Commerce Street in Broomfield.
Flagstaff Holdings, which is led by local real estate veterans Andrew Freeman and Dan Cohen, purchased the 75,000-square-foot warehouse building at 226 Commerce St. near U.S. 287 for $4 million, Freeman said. Flagstaff Holdings acquired the property from 226 Commerce LLC, a Greenwood Village-based entity registered to Stanley Gallery, state business records show.
Jeremy Kroner, of CBRE, represented 226 Commerce LLC.
The 226 Commerce property is fully leased and occupied by Puregas, LaFuma and Carts of Colorado.
Earlier this year, Flagstaff Holdings bought the neighboring 224 Commerce St. property, the 46,400-square-foot industrial building home to Signature Offset, for $2.61 million. Both acquisitions were made by Flagstaff Holdings-224 LLC.
Flagstaff Holdings had both properties under contract last year, but had to postpone the closing of 226 Commerce St. until this month, said Freeman, who also serves as managing broker of Freeman Myre, a Boulder-based commercial real estate firm.
“There seems to be a shortage of efficient basic warehouse space on the corridor, and that was the basis for acquiring these assets,” Freeman said in an e-mail to the Daily Camera.
“We are continuing to look for additional opportunities in the area.”