Huge Westminster HQ sells at 65% discount
The Westminster headquarters of space apparatus firm Vantor the company formerly known as Maxar Technologies has sold for just over a third of what it fetched a decade ago An entity affiliated with Southern California s AXS Opportunity Fund paid million in late October for the office complex at W th Ave according to society records The property was sold by Peakstone Realty Trust which bought it in for million The latest sale represents a drop JLL marketed the property for sale The Westminster property is acres according to Adams County records The connected buildings on it add up to square feet so the deal works out to a square foot The complex is known for the windowed roof of its lobby which resembles a satellite dish The office complex was built in for Avaya a tool firm based in New Jersey That company was replaced by DigitalGlobe which was acquired in by Maxar Technologies At the time Maxar was based in Canada The following year Maxar reported it would move its headquarters to the Colorado complex In Maxar was acquired and taken private by a private equity firm which split it into two Maxar Intelligence remained based in Westminster while Maxar Space Systems is based in the San Francisco Bay Area Last month both companies rebranded Maxar Intelligence took on the name Vantor Vantor spokesman Tomi Maxted stated BusinessDen that company employees work out of the complex He declined to discuss lease specifics but AXS managing partner Shahram Afshani revealed Vantor leases all of the space and has a number of years left Related Articles Aerospace startup Leap leases land east of Aurora to test rockets Meta prevails in historic FTC antitrust incident won t have to break off WhatsApp Instagram Kroger closing automated fulfillment centers as it tries to make delivery faster and cheaper Stocks drop after another jarring day as worries about too-high prices keep dogging Nvidia bitcoin Cloudflare resolves outage that impacted thousands ChatGPT X and more I think they re committed to the building he mentioned adding that he s optimistic about renewal AXS has real estate holdings around the country but this is its first in Colorado Afshani declared Peakstone the Southern California-based seller is converting into an industrial-only REIT with an emphasis on the industrial outdoor storage sector The Westminster property isn t the only one that Peakstone sold to AXS last month The two firms also struck a deal for a -square-foot office tower in Memphis Tennessee leased by International Paper Co according to the Memphis Commercial Appeal newspaper Read more from our partner BusinessDen Get more business news by signing up for our Market Now newsletter
