The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Griffin Capital Spends $92 Mil on Denver Area HQ Office Building

2/04/14

Griffin Capital Corporation paid $92 mil for a Class A, 430k sf ($214/sf) office building located at 1300 West 120th Ave in Westminster, CO, just outside of Denver. The four-story building was sold by Avaya Inc, which will continue to occupy the entire property through a lease that ends on June 30, 2015. Griffin acquired the property on behalf of Griffin Capital Essential Asset REIT Inc.

Once Avaya vacates the property, DigitalGlobe Inc will take occupancy under a 15-year lease beginning July 1, 2015. DigitalGlobe is one of the leading commercial high-resolution earth observation and advanced geospatial solutions providers and has a credit rating from Standard and Poor's of "BB". The property will serve as DigitalGlobe's World Headquarters and house corporate functions, and image production and analysis.

The property is located within the Northwest Submarket of Denver, adjacent to Interstate 25, approximately midway between Denver and Boulder, and is considered part of Colorado's Silicon Valley.
Technology and aerospace companies in the area include Oracle, Level 3, Google, IBM and Ball Aerospace. This suburban area of Denver benefits from a high concentration of executive housing options, as well a deep pool of highly skilled workers that live within a short commute of the Property. As a result, DigitalGlobe was attracted to the location given its ability to draw employees from Boulder, Downtown Denver and the surrounding areas.

Commenting on the acquisition, Eric Kaplan, Griffin Capital's Managing Director of Acquisitions said, "We are very excited to acquire this business essential facility which will house such a dynamic and growing company as DigitalGlobe. DigitalGlobe is expanding and will relocate and consolidate from multiple locations many of its operating functions, as well as approximately 1,000 employees at the property. We believe the Kevin Roche-designed facility with its unique vaulted entrance and satellite dish will be one of Denver's premier self-contained corporate campuses."

Avaya was represented by David Tilton, Jason Addlesperger and David Lee of NGKF Capital Markets. Griffin Capital Corporation represented itself in the transaction.







Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media