Utility firm buys Broomfield office at discount to serve as HQ

A utility cooperative has purchased a Broomfield office building and will move its headquarters there Tri-State Generation and Transmission Association paid million last week for the -story -square-foot building at Interlocken Blvd according to society records That works out to a square foot JLL marketed the building The deal was a big loss for the seller Seattle-based Urban Renaissance Group It paid million for the building in June financing the purchase with a million loan from WaFd Bank records show Tri-State spokesman Mark Stutz certified the planned headquarters move Tri-State has been headquartered at W th Ave in Westminster since This facility has reached its end-of-life cycle he reported in an email Related Articles Meet the Ballpark real estate broker taking on CoStar and LoopNet Cherry Hills mansion lists for first time in nearly years for M Unconnected pipes dumped sewage under Denver shopping center for seven years lawsuit contends Homebuilders bet on mortgage rates to wake up US buyers Berkeley s historic Yates Theater is back on track to become a movie house The Interlocken building is leased according to CoStar Stutz mentioned Tri-State which has employees at its current headquarters will keep chosen tenants in place Tri-State has yet to decide what to do with its current headquarters building which it owns Stutz mentioned The wholesale power supplier has members and says it provides power to more than million people in Colorado Nebraska New Mexico and Wyoming Seller Urban Renaissance Group s Colorado portfolio has been dwindling In Denver it in the past few days surrendered Blake St to a lender lost LoDo s Industry Center to foreclosure and sold Fox s broadcast building at E Speer Blvd to the station s parent company It still owns Blake St In Broomfield URG still owns two office buildings at and Interlocken Crescent adjacent to the one it just sold The latter is the headquarters of ski resort operator Vail Resorts URG and Rockwood Capital purchased those buildings in for a combined million Read more from our partner BusinessDen Get more business news by signing up for our Business activity Now newsletter