Huge Westminster HQ sells at 65% discount
The Westminster headquarters of Vantor, formerly known as Maxar Technologies, sells at a fraction of its previous price
An affiliate of Southern California’s AXS Opportunity Fund recently purchased the Westminster office complex at 1300 W. 120th Ave. for $32 million, marking a significant decrease from the $92 million price tag it fetched in 2014. JLL facilitated the sale of the property.
Spanning 31 acres, the Westminster property comprises 482,000 square feet of connected buildings, translating to a deal price of $66 per square foot. The distinctive lobby features a roof that resembles a satellite dish.
Originally constructed in 2001 for Avaya, the office complex has since been occupied by companies like DigitalGlobe and Maxar Technologies, which recently rebranded as Vantor. The property now serves as the headquarters for Vantor’s intelligence division, with around 500 employees based there.
AXS managing partner Shahram Afshani expressed confidence in Vantor’s commitment to the building, as the company has several years left on its lease. This acquisition marks AXS’s first venture into the Colorado real estate market.
In addition to the Westminster property, Peakstone, the seller, also finalized a deal with AXS for an office tower in Memphis, Tennessee. Peakstone is transitioning into an industrial-only REIT focusing on outdoor storage properties.
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