Sterling Drive

Properties

Sterling Drive

The Property consists of two buildings located in immediate proximity of one another at 5300 and 5305 Sterling Drive and a nearby building at 2300 55th Street, all located in Boulder, Colorado, and contain, in the aggregate, 108,351 square feet.

Property Details

Address

5300 Sterling Drive, 5305 Sterling Drive & 2300 55th Street, Boulder, CO (Denver)

Property Type

Three-Building Flex Office, Life Science Portfolio

Size

108,351 Square Feet

Primary Tenant

None – Life Science Conversion

Acquired

March 2021 and May 2021

Photo of Tritower Financial Sterling Drive property
Photo of Tritower Financial Sterling Drive property
Photo of Tritower Financial Sterling Drive property
Photo of Tritower Financial Sterling Drive property

Highlights & Amenities

Tritower intends to redevelop the Property to be state-of-the-art mixed office/lab space. The following highlights and improvements are planned.

Tritower will complete significant upgrades at the Sterling Drive Properties to make the buildings “lab-shell ready,” including adding sprinkler systems, elevators, HVAC equipment, and heavy electrical capacity.

The 2300 55th Property requires only minor modifications before it can be leased to a tenant who intends to utilize the Property as mixed office/lab space.

The buildings comprising the Property, as partially developed platforms, can be brought to market as functional lab space in less time than a ground-up development.

The speed of the redevelopment and leasing is key, as Boulder is home to a rapidly expanding life science cluster.

Its lab and life science market has become supply constrained in recent years, with a current vacancy rate below 1% and no ground-up development expected to be delivered in the next one to two years.

Location

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