{"id":1004596988,"date":"2022-08-14T11:23:35","date_gmt":"2022-08-14T19:23:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004596988"},"modified":"2022-12-09T00:41:20","modified_gmt":"2022-12-09T08:41:20","slug":"breakthrough-properties-acquires-boulder-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-acquires-boulder-campus\/","title":{"rendered":"Tishman Speyer, Bellco JV Buys Boulder Biotech Campus"},"content":{"rendered":"<div id=\"attachment_1004596991\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004596991\" data-attachment-id=\"1004596991\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-acquires-boulder-campus\/default-36\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/Boulder-38-by-Breakthrough.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;L1D-20c&quot;,&quot;caption&quot;:&quot;default&quot;,&quot;created_timestamp&quot;:&quot;1638611566&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;10.26&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.003125&quot;,&quot;title&quot;:&quot;default&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"38th Street Boulder\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;38th Street in Boulder, Colo. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/Boulder-38-by-Breakthrough.jpg?w=800\" class=\"size-medium wp-image-1004596991\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/Boulder-38-by-Breakthrough.jpg?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/Boulder-38-by-Breakthrough.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/Boulder-38-by-Breakthrough.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/Boulder-38-by-Breakthrough.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004596991\" class=\"wp-caption-text\">38th Street in Boulder, Colo. Image courtesy of Newmark<\/p><\/div>\n<p>A joint venture of <strong>Tishman Speyer<\/strong> and <strong>Bellco Capital <\/strong>has acquired a four-building asset in Boulder, Colo., with the intention of developing a 164,000-square-foot mixed-use space. The 9-acre campus, Boulder 38 by Breakthrough, will feature office, lab and flex space. The sales price was not disclosed.<\/p>\n<p>The venture, <strong>Breakthrough Properties<\/strong>, funded the purchase through the Breakthrough Life Science Property Fund. In April, the fund raised $3 billion in capital and co-investments to scale life science companies.<\/p>\n<p>Located at the intersection of 38<sup>th<\/sup> Street and Arapahoe Avenue, the campus is in proximity to restaurants, retail and other technology and life science campuses. This includes the Jennie Smoly Caruthers Biotechnology Building, a 400,000 square-foot research and teaching facility at the University of Colorado Boulder.<\/p>\n<p>Boulder by Breakthrough is set to feature high-quality laboratories and infrastructure to facilitate healthy office environments. Breakthrough tries to acquire LEED Gold certification on all U.S. properties, limiting carbon emissions and increasing energy efficiency.<\/p>\n<h2>Market breakthroughs<\/h2>\n<p>This acquisition marks the fourth market debut by Breakthrough this year. The company entered the Philadelphia market in May, announcing plans to transform <a href=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-plans-1st-philadelphia-development\/\">2300 Market St. into a life science campus<\/a>. Breakthrough has also purchased assets in San Diego and Boston. In all, Breakthrough has some 4.6 million square feet of projects in the pipeline across the U.S. and Europe.<\/p>\n<p>The University of Colorado Boulder houses National Academy of Science members, a MacArthur Foundation &#8220;genius grant&#8221; winner and several distinguished professors in their bioscience research system. Outside the university, the Boulder community features a regional bioscience hub with more than 1 million square feet of active life science requirements over the last year and a half, according to a CBRE market report.<\/p>\n<p>Nationally, life science lab vacancy is at a record low, with Boulder leading the pack. According to <a href=\"https:\/\/coloradosun.com\/2022\/06\/09\/low-vacancy-life-science-labs\/\"><em>The Colorado Sun<\/em><\/a>, Boulder&#8217;s vacancy was zero in the first quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breakthrough Properties will develop a 164,000-square-foot office, lab and flex space. <\/p>\n","protected":false},"author":3006,"featured_media":1004596991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21783,21752,21742,15],"tags":[46343,49894,33224],"class_list":["post-1004596988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-investment","category-mixed-use","category-latest","category-west","tag-bellco-capital","tag-breakthrough-properties","tag-tishman-speyer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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