Two buildings on Boulder's University Hill business district recently changed hands for a combined $18 million, according to Boulder County property records.

Both deals involved owners of Boulder-based commercial real estate firms that have additional properties in the district, which sits to the west of the University of Colorado.

The Keneth C. Schneider Family Limited Partnership LLP purchased the Hilltop Plaza, 1310 College Ave., for $6.046 million from seller GCP Hilltop Plaza LLC. Becky Callan Gamble, of Dean Callan & Co., represented the buyer.

In a separate deal, College Avenue Partners LLC is the new owner of 1350 College Ave., after paying $12 million for the redevelopment that replaced the building that was long home to Jones Drug & Camera, property records show.

K.C. Schneider, who also owns the buildings at 1135 Broadway and 1119 13th St., said the Hilltop Plaza and the Hill as a whole are solid assets.

"When my father came to CU on the G.I. Bill in the late '40s, at that time, 13th and College was kind of like Main Street and Broadway for the University of Colorado," Schneider said. "I think 65 years ago it was a great location, and I think 65 years from now it will still be a great location.

"Every college town needs a good, viable retail area to service the student population and the surrounding neighborhood."


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The Hilltop Plaza — a nearly 26,000-square-foot building home to tenants such as Chase Bank, Boulder Salad, the Boulder Police Department and the newly opened Spark co-working space — previously was owned by Green Courte Partners, a Chicago-based real estate investment firm that had owned the building since 2006. Green Courte Partners paid $3.86 million at that time.

Schneider said he has no current plans to redevelop his three properties on the Hill.

The transaction just down the block at 1350 College consisted of a trading of interest, said Michael Boyers, a Boulder developer behind the $10 million mixed-use project.

Boyers said he and members of the Holland Family, who own College Optical on the Hill, added a new partner and the new entity, College Avenue Partners, bought out the nine other partners for $12 million.

"It's the same property management, same leases and we only have one partner instead of eight or nine others," Boyers said. "We're actually pretty excited about the new (investor). They have experience owning and managing this type of real estate."

The new partner, according to Colorado business records, is Empire Square Group LLC, a New York-based real estate investment firm with properties that include the Capitol Center in Denver.

Contact Camera Business Writer Alicia Wallace at 303-473-1332 or wallacea@dailycamera.com