Just two years after buying an east Boulder building to house its local operations, technology company Trimble Inc. (Nasdaq: TRMB) has sold the building and consolidated its Colorado operations at its Westminster campus.
TFG 2300 55th Street Property LLC, an arm of Boston-based Tritower Financial Group LLC, acquired the 2300 55th St. property — the former headquarters for Elevations Credit Union — June 1 for $21 million.The consolidation means a loss of 140 jobs for Boulder, with Westminster also benefiting from relocation of jobs from Englewood.
Trimble purchased the 60,030-square-foot building in July 2019 for $12.16 million and spent another estimated $12 million on upgrades to the facility — even placing signage — but never occupied the space.
Trimble spokeswoman LeeAnn McNabb said the company opted to consolidate in Westminster because of the availability of space at the Westminster campus. Trimble opened a new 119,000-square-foot building in the Westmoor Technology Park in late 2018, joining an existing 125,000-square-foot building.
“When we finished the building, it came up as an opportunity to consolidate,” McNabb, said.
McNabb said the company also consolidated its Englewood operations to the Westminster campus and employs about 700 in Colorado.
In emailed comments to BizWest, she added, “We purchased the property in mid-2019 and made improvements with the intention of occupying the building. However, with the advent of COVID and employees working remotely, a decision was made to consolidate this business into our recently constructed and owned campus in Westminster.”
She said the company has partially subleased its 32,000-square-foot space at 4730 Walnut St., with the balance available for sublease.
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