Legacy Partners Reaps 150,000-SF Interlocken Office Building for $23M

BROOMFIELD, CO-Legacy Partners Commercial recently paid slightly more than $23 million, or $153.73 per sf, for 370 Interlocken. The 150,000-sf office building is located in the Interlocken Business Park along the US Highway 36 corridor between Denver and Boulder.

“It was one of the first spec buildings along the corridor,” says Stephen Clarke, principal of Denver-based Prime West Development Inc., the building’s developer and co-owner. Prudential Real Estate Investors, on behalf of a pension fund, also owned a portion of the building. “The fund owned buildings nationally, and this was one of their last holdings,” Clarke tells GlobeSt.com.

There was a great deal of investor interest from potential buyers, says Steve Suechting with Trammell Crow. Suechting, who handled the sale with fellow brokers David Hart and Chris Phenicie, says that Legacy owns a number of buildings along the US 36 corridor. “They really like its long-term growth potential,” Suechting tells GlobeSt.com.