A Gunbarrel office building anchored by a restaurant franchisee changed hands for $3.07 million in a sale-leaseback.
Clubhouse Fortress LLC, a private investor, purchased the Country Club Offices at 7490 Clubhouse Road in Boulder at a 6.67 percent capitalization rate. Lund Brown Enterprises LLC sold the 14,884-square-foot building.
The asset received multiple offers within the first week on the market due to the size of the transaction and good long-term tenants, said Becky Gamble of Dean Callan & Co., who represented the seller with Dean Callan’s Beau Gamble.
The building is 100 percent leased to two tenants, with Capstone Restaurant Group, which is affiliated with the seller, occupying the majority of the space. Capstone is the second-largest franchisee of Carl’s Jr. and Hardee’s restaurants, which has more than 300 restaurants.
The second tenant is Judith A. Timchula DDS, a general dentistry practice.
The building is located at the southwest corner of North 75th Street and Clubhouse Road, offering good access to North 75th and Lookout Road.
“The buyer is a legacy owner of investment property in Boulder, and this long-term sale-leaseback transaction will be a wonderful addition to the portfolio,” said Brian Smith of Marcus & Millichap, who represented the buyer.
According to Smith, the building has experienced steady leasing history over the years because of its versatile and “classy” workspace, which is suitable for a variety of office uses, including medical. Built in 1977, it underwent a major remodeling and renovation in 2014.
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