CBRE Group, Inc. announced late Monday that the firm completed a transaction of the Boulder Community Health Broadway Campus in Boulder, Colorado. The campus is partially in operation and sits on 8.79 acres of land consisting of multiple buildings and a parking structure. The transaction price was $40 million.
CBRE’s First Vice Presidents Eric Roth and Martin Roth with CBRE’s Land Services represented the seller, Boulder Community Health. The buyer was the City of Boulder.
Future plans for the campus include a redevelopment by the City, which may include a public/private partnership.
“As a long-time partner in the community, the Seller is excited to see the City of Boulder acquire the property,” said Eric Roth. “This is a logical transition that will allow for the site to benefit the community in the future.”
“We are so excited to be the new owners and stewards of this important property,” Boulder City Manager Jane Brautigam said in a statement regarding Monday’s announcement. “The city is very appreciative of the partnership this sale represents, and of the leadership BCH showed in understanding the importance of this site to the neighborhood and the city. We look forward to undertaking a meaningful and significant community engagement process that will support the thoughtful consideration of the future uses of this site,” Brautigam continued. “Redevelopment opportunities like this are rare in Boulder — and we want to ensure we leverage this one wisely and collaboratively.”