BROOMFIELD, CO — Tepuy Properties, a real estate syndicate and property manager, has successfully sold Building 2 of its 1 Park Street property in Broomfield, CO for $2.7 million. The sale comes after the company condoed the 2 buildings in the property, allowing Shoot Indoors, the current tenant to purchase the building they occupy.
Tepuy Properties originally acquired the building in 2021 for $1.75 million and has since invested approximately $1 million in property upgrades. “We are excited to announce this sale as part of our ongoing strategy to unlock value in our real estate assets,” said Ricardo Bottome, Asset Manager at Tepuy Properties. “By condoing the buildings and working with our current tenant, we were able to create a mutually beneficial situation, providing our tenant with ownership while positioning the property for future success. This sale exemplifies our commitment to value-add real estate, where we acquire properties with untapped potential, strategically invest in renovations, and create opportunities that deliver strong returns for our investors.”
The sale of 1 Park Street demonstrates Tepuy Properties’ ability to add value through strategic investments and property improvements, aligning with the company’s long-term goal of maximizing returns for its investors.“The feedback from our investors on this project has been overwhelmingly positive,” Bottome added. “Our strategy of identifying and improving value-add opportunities has proven to be successful, and this sale represents another example of our ability to maximize returns and create lasting value.”
The buyer, Shoot Indoors, is a leading indoor shooting range and training facility, offering recreational shooting, firearm safety training, and competitive events. Shoot Indoors plans to continue providing high-quality services in a state-of-the-art facility, expanding its presence in the local community.
Tepuy Properties was represented in the transaction by Eric Rutherford of WK Real Estate, while the buyer was represented by Jason Bollhoefner of Benchmark Commercial. Their expertise and guidance were instrumental in ensuring the successful completion of the sale.
Founded in 2013, Tepuy Properties has rapidly expanded by enabling investors to pool resources and acquire commercial real estate throughout the Denver and Boulder areas. Tepuy Properties now owns and manages over 500,000 square feet of industrial, flex, and office space across the Denver and Boulder metro areas. The firm’s portfolio now includes 14 properties, 19 buildings, and over 140 tenants.
