BOULDER - Steel framing is rising out of the ground for a speculative 32,000-square-foot office and warehouse building at 5025 Pearl Parkway in Boulder.

Joe Poli, principal of Humphries Poli Architects in Denver, said there is no tenant slated for the building, yet. But he anticipates construction to be completed by late second quarter or early third quarter of this year.

Sand Construction Inc. of Denver is the builder on the project valued at $4.6 million, according to a building permit issued in October.

Poli said the project's ownership group, First Fidelity LLC, is a group of Boulder-based investors. Local attorney Shawn Stigler is listed on planning documents as manager of First Fidelity, and attorney Michael Wussow is also listed as a contact for the entity. But neither could be reached for this story.

The new building will include a small two-story office structure attached to a 40-foot tall warehouse. Poli said he expected that ownership would begin marketing the building as it gets closer to completion. He said a single "high-end user" would likely be sought.

"It's going to be a pretty interesting building," Poli said. "We're really pretty excited about it. I think it's a real forward-focused building."

Fidelity First bought the two acres on which the building sits from the city of Boulder in 2012 for $1.1 million. The land was part of the larger city yards parcel used for storage.