Class A Office Campus in Westminster Sells for $71M
DENVER – Westmoor Place 8, 9 and 10, a three-building, Class A office campus totaling 428,029 square feet in Westminster has sold for $71.1 million.
Westmoor Place is located at 11400, 11300 and 11000 Westmoor Circle. The office campus is positioned on more than 26 acres along U.S. 36 in a highly amenitized area that features more than 240 shops and restaurants at Flatirons Mall, The Shops at Walnut Creek and Westminster Promenade, among others. Additionally, the Northwest submarket has strong area demographics with an average household income within one mile of the property exceeding $111,000, which is nearly 20 percent higher than the Colorado average.
The three- and four-story buildings are 79 percent leased overall to tenants including, CACI International, Kahuna Ventures, Coalfire Systems and General Dynamics. Westmoor Place offers a market-leading amenity package that includes a full-service cafeteria, showers on every office floor, a fitness center, access to 3.5 miles of trails and open space and an on-call shuttle.
The HFF investment advisory team representing the seller included senior managing director Mark Katz and senior director Peter Merrion.
“Westmoor Place provided the investor with a diverse rent roll, leased to several large tenants with businesses focused in cyber security, health care and engineering,” Merrion said. “The quality of the buildings and tenancy offered a unique investment profile in Denver. The Northwest market continues to see incredible activity and Westmoor Place will be well-suited to capture the continued demand of users in the market.”