BOULDER, Colo., July 1, 2024 /PRNewswire/ -- ScanlanKemperBard (SKB), and Landrock (Landrock) are excited to announce the acquisition of the Walnut Business Center, a significant urban industrial and retail complex located in the heart of Boulder, Colorado. This strategic acquisition highlights SKB and Landrock's commitment to revitalizing key properties and enhancing the communities they serve.
Walnut Business Center comprises eight buildings across a sprawling 6.4-acre city block in central Boulder. The property presents a unique opportunity for both economic growth and community development.
"Our vision for the Walnut Business Center goes beyond just a real estate investment," said Todd Gooding, President of SKB. "We are committed to transforming this property into a modern, vibrant space that meets the needs of today's tenants and enhances the overall community fabric of Boulder. We look forward to working with existing and future tenants to create a place where employees thrive!"
SKB and Landrock plan to invest heavily in capital improvements to modernize Walnut Business Center. The redevelopment will focus on creating a state-of-the-art urban mixed-use district that caters to a variety of tenants. Planned enhancements include upgrades to roofing, parking lots, and mechanical systems, as well as significant aesthetic improvements.
" Walnut Business Center will be rebranded and reintroduced to the market as an institutional-quality campus," added Landrock Partner Beau Wittmer. "Our goal is to create a space that not only serves high-quality tenants but also contributes positively to the Boulder community by providing a modern, efficient, and aesthetically pleasing environment."
The property's central location between Walnut Street and Pearl Parkway, just two blocks from Highway-36, ensures excellent connectivity to the entirety of the Boulder community. The area is home to major employers including Google, IBM, and Qualcomm and amenities such as the Twenty Ninth Street mall, as well as numerous recently-completed and ongoing multifamily, life-sciences and other development projects.
SKB and Landrock's redevelopment plan aims to support Boulder's growth by providing high-quality industrial, retail, and flex space that meets the evolving needs of businesses while respecting the city's unique character and community values. By transforming the Walnut Business Center, SKB and Landrock seek to contribute to Boulder's economic vitality and enhance the quality of life for its residents and workforce.
For more information about SKB and Landrock and their plans for the Walnut Business Center, please contact:
Media Contact:
Todd Gooding PresidentSKB 503.552.3562 [email protected]
Julie HeidtkePartnerLandrock312.604.7902[email protected]
About SKB Founded in 1993, SKB is a real estate investment and development firm headquartered in Portland, Oregon, focused on investment and development activities in major markets on the West Coast. To date, SKB has generated over $5.35 billion in portfolio activities, including 105 transactions comprising over 33 million square feet. For additional information about SKB, please visit www.skbcos.com.
About LandrockLandrock is a real estate investment firm focused on repositioning middle-market properties throughout the United States, through a series of private investment funds. Landrock's partners include a select group of university endowments, foundations, and family offices, among others. For additional information about Landrock, please visit www.landrock.com.
SOURCE SKB
Originally published at https://www.prnewswire.com/news-releases/scanlankemperbard-skb-and-landrock-announce-acquisition-of-walnut-business-center-in-boulder-colorado-with-plans-for-modernization-and-community-enhancement-302186582.html
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