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Denver Office Property Trades at Deep Discount
The Westminster headquarters of Vantor sold for $32 million. The 482,000-square-foot property last traded hands for $92 million when Peakstone Realty Trust (NYSE: PKST) purchased it in 2014. The Denver Business Journal reports Peakstone Reality has been selling office properties around the country as it shifts to focusing its investments into industrial and outdoor storage properties. It had been developed as a campus for telecommunications company Avaya Inc. That company sold the property in 2014.
The Westminster property is almost 32 acres. The building at 1300 W. 120th Ave. is located within an enterprise zone.
AXS Opportunity Fund was the buyer. AXS is a real estate private equity firm that started as a family business in 1974.
Vantor is a global satellite imaging company and spatial intelligence firm.
