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Boulder’s Flatiron Park Attracts PopSockets

The Colorado Company’s 46,000-square-foot Lease is the Largest Office Lease Transaction in Boulder Market YTD

Denver, CO (08/23/2018)

2:30 PM

Newmark Knight Frank (NKF) has announced the lease of 46,000 square feet at 5757 Central Avenue in Boulder's Flatiron Park to Boulder-based PopSockets, LLC, manufacturer of the expandable and collapsible mobile phone accessory that has transformed the phone user experience. NKF's Scott Garel and Jared Leabch, along with Dean Callan and Company's Becky Gamble and Beau Gamble, represented the owner-partnership of Crescent Real Estate LLC, Goldman Sachs Asset Management Private Real Estate and Lionstone Investments, on the lease transaction; NewOption Partners Managing Partner Paul Whiteside and Broker Aaron Evans represented the tenant.

"There are limited availabilities in the Boulder market for tenants that need greater than 45,000 square feet," noted NKF Associate Director Jared Leabch. "PopSockets will join existing tenants - Workday, Informa, Sovrn, RealD and KBI Biopharma - that are leveraging the park's amenities, location and value-add potential." NKF and Dean Callan and Company provide exclusive leasing and marketing services for Flatiron Park LLC.

Flatiron Park's strategy of converting existing warehouse space to office/flex and creative office space is attracting high-tech, consulting, communications and bioscience industries. Offering flexibility and tenant options rarely seen in Boulder, Flatiron Park provides desirable opportunities for high-growth tenants coupled with lifestyle amenities including a fitness center and walking/riding trails, service amenities like Upslope Brewery, a deli, Ozo Coffee and food-truck service, and exceptional transportation options.

PopSockets was invented by former philosophy professor David Barnett and started from Barnett's garage in 2014. The Colorado company is growing by leaps and bounds, selling more than 40 million PopSockets grips globally and has completely outgrown its current 25,000-square-foot space. Barnett, PopSockets' founder and CEO, was named "Entrepreneur of the Year" for 2018 in CoBiz's May/June cover feature.

"Over the past several years, PopSockets has experienced incredible growth - our once huge office is suddenly bursting at the seams," commented Bob Africa, PopSockets' Chief of Staff. "We've been fortunate to attract a team of extremely talented people and we are creating a collaborative space for them to thrive; a contemporary, comfortable and creative environment, featuring high ceilings and mountain views. Our move not only produces a more people-friendly space, it also gives us the opportunity to continue to attract the best available talent, fueling future growth and product innovation."

PopSockets' employee amenities will include food service, a yoga studio and a dog run, making it more convenient for employees to bring well-trained dogs to work. Oz Architecture has been hired as the project architect and is working on an inventive way to join two stairs in the vintage space to open the interior, create unrestricted floor plans and upgrade the façade. Move-in is targeted for the end of 2018/early 2019.

Located just east of 55th Street between Arapahoe Avenue and Pearl Parkway, Flatiron Park offers 22 office/flex buildings and a total size of 941,000 square feet. With availabilities ranging from 929 square feet to 61,556 square feet, Flatiron Park can accommodate tenants of all sizes.

PopSockets' 46,000-square-foot lease at Flatiron Park ranks as the largest office lease transaction in the Boulder market year-to-date, and one of the largest signed in the last 18 months, according to NKF Research.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), operated by Newmark Group, Inc. ("Newmark Group") (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF's investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. ("BGC") (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.

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Statements in this document regarding Newmark Group that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group's and BGC's Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.