JLL’s Capital Markets group announced that it has closed the record-setting sale of Flatiron Park, a 22-building life sciences and office campus totaling one million square feet in Boulder, Colorado.
JLL worked on behalf of the seller, a joint venture between Crescent Real Estate, the Real Estate business of Goldman Sachs Asset Management and Lionstone Investments. BioMed Realty, a Blackstone portfolio company and leading provider of real estate solutions to the life science and technology industries, purchased the asset. The sale represents the largest single asset sale in Colorado’s history.
Flatiron Park comprises biomanufacturing, research & development and creative office space that is currently 90% leased to a mix of industry-leading technology and life sciences firms. The property also boasts in-demand tenant amenities, including an on-site gym, numerous restaurants and a food truck court.
Its location in the Boulder area and near the University of Colorado Boulder allows the property to draw from one of the most highly educated workforces in the country. In addition to the robust pipeline of skilled labor, Boulder offers companies a well-established ecosystem of best-in-class universities and public institutions and an ease of recruitment due to its renowned quality of life.
The JLL Capital Markets team representing the seller was led by Mark Katz, Peter Merrion and Hilary Barnett and supported by Phillip Anderson and Kelly Kramer.
“BioMed’s acquisition of Flatiron Park will greatly benefit the rising life sciences ecosystem in Colorado,” Katz said in a statement. “BioMed is one of the top life sciences and technology real estate companies in the world and we are unbelievably excited to see where they will take this project.”