Boulder Daily Camera
Alicia Wallace
Camera Business Writer
The Bailey Company LLLP, a Golden-based company with interests in real estate and oil and gas, has purchased five buildings leased to Ball Aerospace & Technologies Corp. in Boulder for $20.5 million, officials for Boulder-based Dean Callan & Co. announced Thursday.
The Bailey Company acquired the properties at 1645, 1685, 1688, 1727 and 1730/50 Conestoga St. from Conestoga Street Partners LLC, an entity of California-based Bancroft Capital.
Bancroft bought the five-building portfolio, totaling 130,847 square feet, for $15.75 million in 2005.
Prior to the Bailey Company acquisition, Brit Banks, of Dean Callan & Co., negotiated a Ball Aerospace lease extension on behalf of Bancroft. Ball Aerospace extended the current leases by five more years, Dean Callan officials said.
Becky Callan Gamble of Dean Callan and CBRE represented Bancroft in the sale.
Officials for the Bailey Company could not be immediately reached for comment.
The acquisition comes nearly six months after the Bailey Company sold 47 Arby's restaurants in Colorado, Wyoming and Idaho to U.S. Beef Corp. on Dec. 16, the Denver Business Journal reported at the time.
Geoff Bailey, whose family has operated Denver metro-area Arby's restaurants for 45 years, told the Denver Business Journal that his company's focus moving forward will be on its oil and gas and real estate holdings.