FRONT RANGE COMMUNITY COLLEGE – BOULDER COUNTY CAMPUS is a single-tenant, two-building property totaling 117,106 rentable square feet. The property is 100% leased to the State of Colorado, acting on behalf of Front Range Community College (FRCC). The State of Colorado features a credit rating of Aa1 by Moody’s Investors Service, identified as “high-grade” credit within the broader investment-grade rating description. 

Front Range Community College is the largest community college system in the state of Colorado, with a student population of 28,089 and three campus locations. FRCC Boulder County Campus has a student enrollment of 4,900, with the neighboring University of Colorado Boulder being the top transfer destination. University of Colorado Boulder is the largest college in the state of Colorado, with student enrollment of 36,548. FRCC is the most popular transfer institution to University of Colorado, Boulder, Metropolitan State University of Denver, and CSU Global. 

In 2018, a new 10-year lease term was structured with the State of Colorado, replacing FRCC’s previously existing lease for the subject property. The lease features an attractive NNN structure, with annual base rent increases of approximately 2.5%, providing strong income growth throughout the term. As part of the lease renewal, the landlord and tenant completed a significant renovation and improvement project, totaling $4.842 million, with $2.5 million of these costs funded by the tenant. Upgrades include replacement of HVAC systems, parking lot, and major interior upgrades primarily focused on student experience, including lobbies, classrooms, bathrooms, lab spaces, a new library, and improved IT and security systems.  

Longmont benefits from an optimal location in suburban Denver, situated 30 miles from downtown Denver. One of the fastest-growing cities in the state of Colorado, Longmont has a current population exceeding 97,000.  Longmont is located in Boulder County and is part of the Boulder, Colorado MSA, which has a population exceeding 326,000 and is the second-largest MSA in Colorado. FRCC Boulder County Campus is located just off Highway 119, and is surrounded by major tenants including Kohl’s, Sprouts Farmers Market, Buffalo Wild Wings, Red Robin, Texas Roadhouse, Oskar Blues Brewery Headquarters, and more.