Google Goes for Rêve Boulder’s Office Component

Google recently took ownership of the office component of Rêve Boulder, a mixed-use community located in a Qualified Opportunity Zone at 30th and Pearl streets in Boulder, CO. The office space will serve as an extension of Google’s Pearl Place Campus, which is located across the street. The price was undisclosed.

GTIS Partners and Southern Land Company were the sellers. Earlier this year, GTIS and SLC sold the multifamily and retail components of Rêve Boulder for $151.25 million.

“We are very proud of this sale as it marks not just our first investment in the dynamic Boulder market and our first completed investment in an Opportunity Zone, but also because the execution demonstrates GTIS’ ability as a firm to add value through best-in-class asset management and development,” says Tom Shapiro, president and CIO at GTIS.

The four-story office building totals 124,000 square feet of interior space and more than 6,000 square feet of outdoor terrace space on the fourth floor. The Rêve Boulder project was purposefully planned with a focus on the environment and surrounding community.

“We are grateful to have partnered with GTIS on the incredible Rêve Boulder project and are pleased to have completed the sale of the office component to Google, who will make great use of the space as they continue to grow and innovate in Boulder,” says Tim Downey, founder and CEO of SLC.