The StorageTek campus came with Sun's acquisition of StorageTechnology in 2005. Sun Microsystems senior director Charles Barrysays the company wanted to maximize the return for itself and thecommunity by finding a corporate buyer that would use the siterather than an investor or speculative developer. "We're pleasedwith the transaction," he says. "Our primary goal wasachieved."

JLL managing directors Kenneth Rudy and Michel Seifer negotiatedthe sale. Fuller Real Estate's Stew Mosko assisted with localmarketing efforts. "This property was an attractive investmentgiven the size of the site, its location north of Denver andadjacent to two major highways …, and access to the localtechnology-savvy workforce," Rudy says.

Seifer tells GlobeSt.com that the StorageTek campus consists of11 buildings totaling 1.7 million sf concentrated in the middle ofthe 432-tract of land, which has not been approved for any moredevelopment than currently exists. It wasn't immediately clearwhether ConocoPhillips plans to reuse some or all of the existingstructures for its facility.