KBS, a commercial real estate investor, has divested the nine-story Peakview Tower in Greenwood Village, Colorado for $66 million to a joint venture led by Vanderbilt Office Properties, a real estate investment manager.

The 264,149 square-foot office tower is located within the Southeast market of Denver. KBS had acquired it originally in August 2012.

Gio Cordoves — KBS Western regional president said: “As in all of the markets in which KBS invests, Denver features strong employment and population growth, solid infrastructure, and a number of respected universities. The market also attracts top tech talent, with millennials comprising 33% of the population and Denver having the biggest net migration of millennial residents in 2019.

“In acquiring this trophy office property nine years ago, KBS identified a well-located top-quality asset in an emerging market positioned for steady growth in the years to follow. Today, we realized that promise in the sale of Peakview Tower.”

Peakview Tower is situated in a suburban micro-market called Fiddler’s Green Circle, which has a usually low Class A vacancy rate. The office tower has 27,600 square-foot floorplates, nine-foot-plus ceiling heights, covered and attached parking along with a double-story lobby atrium in addition to other modern office tenant amenities.

  Gio Cordoves, Greenwood Village, KBS, Real estate industry news, USA, Vanderbilt Office Properties