Tri-State utility cooperative buys office building in Broomfield

A utility cooperative acquires Broomfield office building for headquarters relocation

Tri-State Generation and Transmission Association recently purchased a 6-story, 152,000-square-foot office building located at 370 Interlocken Blvd in Broomfield for $10.8 million. The acquisition marks the cooperative’s decision to relocate its headquarters to the new facility, as confirmed by Tri-State spokesman Mark Stutz.

The building, previously owned by Seattle-based Urban Renaissance Group, was sold at a significant loss compared to its purchase price in June 2022. Tri-State plans to maintain some existing tenants in the building, which is currently 40% leased according to CoStar.

Tri-State, a wholesale power supplier with 45 members, serves over 1 million people in Colorado, Nebraska, New Mexico, and Wyoming. The cooperative’s current headquarters in Westminster has been deemed to have reached its end-of-life cycle, prompting the move to the new location in Broomfield.

Meanwhile, Urban Renaissance Group’s Colorado portfolio has been undergoing changes, with recent property transactions in Denver and ownership of two adjacent office buildings in Broomfield. The company still holds office buildings at 380 and 390 Interlocken Crescent, with the latter serving as the headquarters for ski resort operator Vail Resorts.