Invesco Advisers Buys Gogo Building In Broomfield
Hines Holdings has sold a 186,231 SF office building in Broomfield to Invesco Advisers for $47.1M.
The newly constructed building at 105 Edgeview Drive, which is fully leased, is anchored by Gogo, an inflight internet and entertainment provider, which occupies 65% of the building.
Known as the Gogo Building at Interlocken, the building is the first phase of Hines’ EOS at Interlocken office campus development. The property is certified LEED Platinum with sustainable design elements, including solar panels, 10-foot floor-to-ceiling windows, 18 vehicle-charging stations and a 2,500 SF fitness center.
“The Gogo Building represented a fantastic opportunity to acquire the newest, highest-quality office asset in northwest Denver at below replacement cost,” said NKF Capital Markets West Coast President Kevin Shannon, who was part of the team that represented Hines. “In addition, the property includes an adjacent 1.07-acre development parcel that can be used to provide additional surface parking or retail development.”
The building is in the technology-centric Interlocken Advanced Technology Business Park in the northwest Boulder corridor — one of the top technology markets in the western region.
“The U.S. 36 corridor has undergone a dramatic transformation with regards to commuting patterns and population distribution and contains the highest concentration of newer vintage office assets,” said NKF Western Region Capital Markets Vice Chairman John Jugl, who also was part of the team representing Hines. “We expect to see a number of new investment offerings along the corridor in early 2018.”
