Hines’ U.S. Office Value Added Fund Sells Mountain View Corporate Center in Denver Suburb

(DENVER) – The Denver office of Hines, the international real estate firm, announced today the sale of Mountain View Corporate Center to Westfield Company. The 461,438-square-foot Class A office development in Broomfield, CO, is comprised of three three-story buildings and one four-story building. HFF, along with Newmark Knight Frank Capital Group, marketed the properties on behalf of the seller, the Hines U.S. Office Value Added Fund. Terms of the sale were not disclosed.

Acquired by Hines in 2006, the buildings have been maintained at a high standard with two of the four buildings achieving LEED® Silver certification.

The property is 92 percent leased to tenants such as Time Warner Cable, TransFirst and White Wave Foods.

Situated on approximately 27 acres of land, the property is located on Airport Way, adjacent to the Rocky Mountain Metropolitan Airport, northwest of downtown Denver.

Hines Senior Managing Director Charles Elder commented, “We have enjoyed being the owner and executing our investment thesis of this terrific property for six years. Hines looks forward to continuing to invest in the Denver metro area.”

Senior Managing Director and fund manager Dave Congdon said, “By increasing occupancy and improving the campus’ operations, we added significant value and realized positive investment performance through the market cycle.”

Westfield Company, Inc., Denver-based and locally owned, has evolved into a boutique investment management company and one of the nation’s foremost developers of office and transit-oriented developments, using advanced systems and technologies to enable greater business productivity, higher tenant satisfaction, and lower building operating costs.

Westfield principals collectively have been involved in developing five million square feet of prestige office buildings, office parks, retail centers and corporate headquarters.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide.

The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,192 properties representing more than 482 million square feet of real estate.

With offices in 110 cities in 18 countries, and controlled assets valued at approximately $22.9 billion, Hines is one of the largest real estate organizations in the world.

Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

Visit www.hines.com for more information.

 

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