REAL ESTATE 10/10/2008 Source: Boulder County Business Report Author: David Clucas LOUISVILLE $16.8 MILLION PURCHASE: A New York City-based property investment group has purchased a 107,468-square-foot engineering and research building at the Centennial Valley Business Park for $16.8 million. Lexington Realty Trust (NYSE:LXP) purchased the building at 1315 W. Century Drive, which is occupied by Global Healthcare Exchange LLC. Lexington Realty Trust owns about 50 million square feet of buildings in 44 states. It owns other properties in Colorado, but this is its first foray into the Boulder Valley. "There are good things happening in the Boulder/Louisville market, and we think it is an attractive and growing market," said Sam Salant, senior vice president with Lexington Realty Trust. He cited the increased renewable energy companies in the area, along with ConocoPhillips' plans for a Colorado campus in Louisville as positive signs of growth. "The building also fits our typical investment profile with a single tenant," he said. Global Healthcare Exchange, a Louisville-based sales software and service provider to the health-care industry, is leasing a majority of the building through 2017. Niwot-based Sentinel Properties LLC, headed by Kevin Mulshine, sold the building to Lexington Realty Trust. Mulshine had purchased the building in January 2007 - when it was vacant - for $8,325,000. In February 2007, the building was renovated for Global Healthcare Exchange, which moved its headquarters from Westminster to Louisville. LONGMONT NEW BANK BRANCH: AmFirst Bank has purchased a location for its branch in Longmont. The McCook, Neb.-based bank bought the first-floor office condo at 916 S. Main St. from Guaranty Bank & Trust, which previously occupied the space. AmFirst paid $2.6 million for the 6,500-square-foot space and three drive-through lanes, according to Boulder County public records. AmFirst is currently at 900 S. Main St. in Longmont and plans to move to its new location down the street by the end of the month, said Senior Vice President Bob Callis. AmFirst entered the Longmont market in late 2007. The full-service bank is a subsidiary of AmFirst Financial Services Inc. and has one other branch in Colorado at the Denver Tech Center in Greenwood Village. It has three branches in Nebraska. Gauranty Bank vacated the bank space that AmFirst is acquiring during consolidation efforts this summer. MOVING: Dohm-Icebox LLC is moving from Boulder after purchasing a building in Longmont to expand its knit hat and accessory business. The company bought a 5,800-square-foot warehouse building at 1111 Delaware Ave. in Longmont for $425,000 according to Boulder County public records. The new location increases Dohm-Icebox's space by 2,000 square feet. Dohm-Icebox co-founder Josh McGlothlin said the company moved because it's less expensive to operate in Longmont. He also preferred buying a space in Longmont, rather than leasing in Boulder. Dohm-Icebox makes handmade knit hats and accessories, designs and manufactures them on antique sewing machines and, most recently, creates a line of hats comprised of recycled wools. CLIMBING NEW WALLS: Boulder-based Monolithic Sculpture Inc. is moving its manufacturing and distribution facilities to Longmont. The climbing wall and playground sculpture company signed a lease for 9,918 square feet of industrial space at 455 Weaver Park Road in Longmont. The building is owned by Stephen Tebo. Todd Walsh with The Colorado Group helped broker the real estate deal. Monolithic Sculpture is moving from 3240 Prairie Ave. in Boulder. It will keep a small office in Boulder at 1645 Canyon Blvd. Monolithic Sculpture President Ty Foose said the deal will save the company money. "Longmont offers us the space we need at significant less rent cost," Foose said. "We're looking to save money to eventually buy our own space." The company employs 10 people. LAFAYETTE BUILDING BUY: Morrell Printing Solutions is moving across town after purchasing a new building for the company. The Lafayette-based printing and graphics firm bought a 24,655-square-foot commercial building at 990 S. Public Road for $2.14 million under the 990 Investment Group LLC name, according to Boulder County public records. Strathmore Commercial LLC sold the building. The company expects to move in a month and will occupy about one-third of the building, while leasing the other two-thirds of the space, said director Jim Morrell. "We're in a couple of smaller locations, and this will put us under one roof," Morrell said. "It's a little nicer and roomier space." The company is looking to lease out about 3,800 square feet of commercial space in its soon-to- be-former space at 111 S. Public Road. Contact David Clucas at 303-440-4950 or firstname.lastname@example.org.