KBS divests nine-story Peakview Tower in Greenwood Village, Colorado for $66m

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.”

KBS divests nine-story Peakview Tower in Greenwood Village for $66m. Photo courtesy of Business Wire.

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.