LONGMONT - The owner of 1.47 million square feet of industrial and office space in Longmont has bought two apartment complexes in the city for $48.6 million.

Circle Capital Partners LLC purchased a portfolio of 570 apartments known as Madison at the Orchards and Madison Overlook at the Shores in northwest Longmont. The company's affiliate, Circle Residential Partners LLC, bought the properties from Orchard Apartment Associates LLC and Overlook Apartment Associates LLC, both based in Pennsylvania.

"We have a unique opportunity to acquire the assets at a meaningful discount to replacement costs, add value through active management and unit renovation and capture a meaningful increase in market rents," Circle Capital President Terry Fitzpatrick said in a document relating to the deal.

The documents said Circle Capital plans to spend about $4 million on exterior and interior renovations.

Madison at the Orchards, on 12.19 acres at 2540 Sunset Drive, was built in 1988 and includes 360 one- and two-bedroom units, 575 parking spaces, a playground, sauna, fitness center and a heated swimming pool. It was purchased for $29,971,300, according to Boulder County public records.

Madison Overlook at the Shores, on 9.35 acres at 3226 Lake Park Way, was also built in 1988 and includes 210 one- and two-bedroom units, 338 parking spaces, a playground, hot tub, sauna, fitness center and a heated swimming pool. It was purchased for $18,628,700, according to Boulder County public records.

CONSTRUCTION MERGER: Two construction firms in Longmont, Krische Construction and KCI Construction, have merged operations.

Krische will acquire KCI's 5,800-square-foot office at 605 Weaver Park along with the lot adjacent to the building. The site will become the home office for the combined operations after a remodel, which is expected to be finished in August.

Five KCI staff members will join Krische, including Cal Schurman, former president of KCI. He will move into a business development and project management role with Krische.

The new venture will employ more than 30 workers. It will have estimated revenues of $15 million to $18 million this year.

BOULDER

GOOGLE'S NEW DIGS: Google Inc. is moving its office in Boulder as it expands local operations and adds jobs.

The Internet advertising and search engine company has signed a lease for the 23,500-square-foot building at 2590 Pearl St. - the former headquarters for Noodles & Co.

"We're moving because we've outgrown our current space," said Sunny Gettinger, Google's global communications and public affairs manager. She said the Google Boulder office is hiring.

Google currently leases about 15,000 square feet at 1433 Pearl St. in downtown Boulder. It employs about 70 people and is advertising 14 job openings on its Web site.

The Mountain View, Calif.-based company entered the Boulder market in March 2006 after acquiring Boulder-based @last Software. The company's software, SketchUp, allows users to build 3-D models and building, which can interact with Google Earth.

Joe Heath and Pete Staab, with Frederick Ross Co., helped represent Google, and Lynda Gibbons with Gibbons-White helped represent the landlord in the real estate deal.

TOFU BUILDING SALE: As part of the sale of its tofu business to Hain Celestial Group Inc. last month, Broomfield-based WhiteWave Foods Co. sold its tofu facility at 6123 Arapahoe Road in Boulder to Hain for $2 million according to Boulder County public records.

Financial terms of the entire business deal were not disclosed.

MORE SPACE: Quantum Financial Solutions LLC, a Boulder-based tax resolution firm, has signed a lease for 12,227 square feet of space at 5303 Spine Road in Gunbarrel.

The company is moving from about 9,000 square feet at 6309 Monarch Park Place. Hunter Barto, Dryden Dunsmore and Becky Gamble with Dean Callan & Co. helped broker the real estate deal.

LOTUS REMODEL: Work has begun to remodel the 15,326-square-foot Lotus Building at 900 28th St. Tom Kalinski, with RE/MAX of Boulder, purchased the office building for $4.35 million in August 2006 and is spending about $1.4 million to remodel it for office and retail space.

Longmont-based Krische Construction is the general contractor, and Boulder-based Left Hand Design Group is the architect. The remodel is expected to be complete by November.

APARTMENT SALE: A Boulder investor has purchased a 9,434-square-foot apartment building at 2043 Arapahoe Ave. for $2.39 million.

1821 22nd Street Limited Partnership, which also owns the apartments at that address in Boulder, bought the units from 2043 Arapahoe Avenue LLC, according to Boulder County public records.

BROOMFIELD

MAINSTREET SALE: Two buildings in Broomfield's MainStreet at Flatiron development have sold for $15.8 million.

Santa Ana, Calif.-based Triple Net Properties LLC bought 520 Zang St. and 549 Flatiron Blvd. on behalf of a group of tenant-in-common investors. Coalton Holdings LLC, an entity of Lakewood-based Alliance Commercial Partners LLC, sold the properties.

The two buildings total nearly 93,000 square feet and are 98 percent leased. The 22 tenants include the new headquarters of Noodles & Co. and locations for Christy Sports, Le Peep Restaurant and Eminent Mortgage Design Inc.

Triple Net is a wholly-owned subsidiary of NNN Realty Advisors Inc.

LOUISVILLE

BUILDING SALE: The 7,133-square-foot retail building at 972 Dillon Road has sold for $2.32 million. The building houses a FedEx/Kinkos.

Ute City Place LLC and 12001-120th LLC, both out of Basalt, purchased the building from Frankfort Co. LLC and BS Stroh Ranch Investments, according to Boulder County public records.

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Contact David Clucas at 303-440-4950 or e-mail dclucas@bcbr.com.