Wednesday, 21 November 2012

Developer Karlin Real Estate sells two Boulder buildings

Karlin Real Estate, the Los Angeles-based firm that is redeveloping the former Daily Camera property in downtown Boulder, recently sold two of its properties -- including the Camera's current home -- in Boulder for $5.1 million.

Karlin sold the properties at 5450 Western Ave. and 1780 Conestoga Ave. to Square Six LLC, an entity registered to University of Colorado alumnus S.J. "Arch" Archuleta, according to Boulder County property deeds recorded earlier this month.

Prairie Mountain Publishing -- which owns the Daily Camera and Colorado Daily, among other Colorado newspapers -- operates out of the 25,000-square-foot building at 5450 Western. Ball Aerospace is the tenant at 1780 Conestoga.

Karlin Boulder LLC acquired the two properties and one at 4745 Walnut St. in 2009 for an undisclosed sum. In early 2011, Karlin listed the trio for sale at $7.98 million.

Late last year, Karlin sold 4745 Walnut to WEI Walnut LLC for $1.725 million.

At that time of the listing, Karlin officials said they hoped to dedicate more financial resources to their project at 1048 Pearl. The Eleventh and Pearl project -- to develop a 160,000-square-foot mixed building with retail, restaurant office and theater uses -- recently received city approval.

Source: http://www.dailycamera.com/boulder-business/ci_22044898/developer-karlin-real-estate-sells-two-boulder-buildings

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