KM Labs has sold its 31,392 square foot office building at 1855 S. 57th Court in Boulder for $4.55 million to Element Properties, according to a statement issued Thursday afternoon.

Scott Crabtree of the Colorado Group represented the buyers and Ashley Overton and Mike Hastings of Flatiron Commercial LLC, represented the seller.

In a statement, Scott Holton, principal of Element, said, “This building is an opportunity to diversify our portfolio of projects. Element Properties is very committed to community development by improving people’s interaction with the built environment. We looked at 1855 S 57th Court as a way to expand the character and vibe from our residential projects into this out of date commercial building.”

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