Gunbarrel Tech Center Fetches $13M

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BOULDER, CO-The Gunbarrel Tech Center here has changed hands for $12.89 million. The 170,998-sf flex-office development is fully leased to Lockheed Martin Corp.

The seller was a partnership of Gunbarrel Facility LLC and Gunbarrel Facility II LLC, both of which are subsidiaries of Colorado & Santa Fe Real Estate. The new owner is Inheritance Capital Group of Detroit.

Gunbarrel Tech Center is located at 6304 Spine Rd. in the Gunbarrel Business Park, which is home to several defense contractors. Built in the 1960s as a 50,000-sf structure, Gunbarrel Tech Center originally housed an IBM copier machine manufacturing facility. Another 100,000 sf was added to the building in the 1970s, when Loral Federal Systems took up tenancy in the building.

Lockheed Martin became the tenant in the mid 1990s through a series of mergers and acquisitions and in the late 1990s the building was expanded to its current size. Property amenities include high security and card key access throughout the building.

Broker Barry Higgins and Eric Kimose with Marcus & Millichap had the disposition assignment.