The developers of Google’s new 200,000-square-foot Boulder campus sold the property to the tech giant for $130.09 million.
Google initially signed a 15-year lease for the campus at 2920 Pearl St., which will open before the end of the year.
“It wasn’t our intention to sell, but things fell into place for both parties, and it was a win-win for both groups,” said Kevin Foltz, managing director of development for Forum Real Estate Group.
“The development overall was a huge success for all those involved but especially the city of Boulder,” he said.
Pearl Place Associates LLC, a venture of Forum and Brickstone Partners, developed the campus, which consists of two connected buildings over a parking garage. It will allow Google to grow to as many as 1,500 employees.
“The sale of the project to Google represents a very successful completion for Forum, Brickstone and its partners,” said Dan Otis, Brickstone principal. “More importantly, it is an exciting beginning for Boulder and for Colorado. Google will bring unparalleled intellectual capital and entrepreneurial spirit to Colorado. We are excited to continue creating legacy projects that are impactful to Colorado and also for our partners.”
Google already is planning a second phase of the campus on 1.3 adjacent acres it bought from Pearl Place Associates for $7.01 million in January.