MARCH 1, 2022
Balfour Paciﬁc Capital Inc. is pleased to announce the sale of Building III in Mountain View Corporate Center to a major U.S. aerospace company. Mountain View is a Class A, four-building office portfolio in Broomfield (Denver), Colorado. The transaction closed on March 1, 2022.
In June 2021, Balfour Pacific acquired the Mountain View portfolio, comprising 461,438 s.f. of office space located at the gateway of Interlocken, a 963-acre advanced technology park. A hotbed for innovation, the area has benefited from an emerging aerospace and defense sector presence in recent years as well as a surge of in-migration. Interlocken is well-situated between Boulder and Downtown Denver, drawing a high concentration of skilled technology workers and engineers. The park sits adjacent to the Rocky Mountain Metropolitan Airport, which is an attractive amenity for corporate tenants, including several Fortune 1000 companies headquartered in the park.
The sale of Building III, which represents 25% of the portfolio’s total square footage and whose single tenant was a known vacate prior to acquisition, was negotiated soon after Balfour Pacific acquired Mountain View. Mark Scott, Balfour’s Managing Partner, notes “the sale significantly improves the risk profile of our investment and represents a timely and successful realization – a great win all around for Balfour Pacific.” The remaining three buildings in the portfolio continue to benefit from the favourable market dynamics in the area and its continued status as one of Metro Denver’s best-performing suburban markets.
About Balfour Pacific Balfour Pacific Capital Inc. is a private equity real estate firm focused on value-added investments in the United States. Should you wish to learn more about Balfour Pacific, please visit our website, www.balfourpacific.com.