Orix, Boulder Buy 146,591-SF Sprint Office

KANSAS CITY, MO-Orix Real Estate Capital Inc. and Boulder Net Lease Funds LLC, both based in the Chicago area, have joined in a venture to buy a 146,591-sf office facility that was formerly owned by computer giant Gateway. The building is now leased as a call center by the Sprint Nextel Corp., which has nine years left on its lease. The property was purchased for about $13 million.

The property had been a larger complex owned by Gateway. However, the company consolidated its real estate and vacated most of the space, using some still as a call center until Sprint moved in. Another 67,000-sf building was sold to Kansas City, MO for $5 million in June 2005.