Turnpike, formerly known as Interlocken Ltd., is getting a 35,420-sf corporate headquarters and 17.8 acres. Real estate experts estimate the sales price in the $10 million to $12 million range although the parties are mum about the deal's financials. The property abuts a Sun Microsystems office campus, which eventually plans to triple in size.
Up With People, one of the first major tenants in Interlocken, had built its headquarters there in 1992. Up With People, created in the 1960s to promote cultural awareness with traveling performers, had moved to Broomfield from Tucson in 1993. In its last fiscal year, the nonprofit Up With People had $31.5 million in expenses and only $28.3 million in revenues, for a $3.2 million loss. Last year, the organization had reported losses of $870,000. The company had employed 262 worldwide.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
