Boulder County
Property Location: 4780-4999 Peal East Circle, One Pearl Plaza
Property Description: 11 separate office buildings totaling 491,672 sf, YOC 1988-1999, masonry construction
Land Size: 18.81 acres
Sales Price: $150M, or $305.08 psf
Reception No.: 3694792
Closing Date: 1/18/2019
Grantor: UPI/P7 Pearl East LLC, c/o Unico Properties
Grantee: Western Office Portfolio Property Owner LLC (Alexander Cheek, signatory, c/o Goldman Sachs & Co.)
Financing: $437.5M payable to Morgan Stanley Mortgage Capital Holdings LLC, with the loan to be paid in full on February 7, 2026, unless earlier
Comments: 4780 Pearl – 38,787 sf, YOC 1988; 62,400-sf, three-story office building, YOC 1989; 4845 Pearl East Circle – 43,500 sf, YOC 1991; 4888 E. Peal East Circle – 58,250 sf, YOC 1989; 4900 Pearl East Circle – 67,200 sf, YOC 1992; 4940 E. Pearl East Circle – 38,603 sf, YOC 1996; 4949 Pearl East Circle – 58,480 sf, YOC 1989; 4900 Pearl Circle East – 67,200 sf, YOC 1992; & 4999 Pearl East Circle – 57,252 sf, YOC 1995. This sale is a joint venture between Unico Properties of Seattle and Goldman Sachs of New York City. The loan itself reflects the property value of $889.82 per square foot for the 11 buildings.
Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
