BROOMFIELD, CO—GI Partners has completed the acquisition of 11525 Main St. located in Broomfield, CO. The acquisition was made through TechCore LLC.
TechCore is an approximately $1 billion discretionary core real estate fund managed by GI Partners on behalf of the California Public Employees' Retirement System. The purchase price was not disclosed.
11525 Main Street is a "mission-critical data center facility" containing 92,800 square feet. The property is fully occupied on a long-term basis by TIAA-CREF.
"We are very pleased to own the property and strengthen GI's long-term relationship with TIAA-CREF," explains Michael Wong, director of GI Partners. "The facility's high-quality data center improvements and critical nature make it a compelling addition to the TechCore portfolio. The greater Denver area is a robust technology market that is well positioned for additional future growth given its highly educated workforce, accessibility, and strong connectivity. TechCore is excited to complete its first acquisition in the market."
TechCore was formed in early 2012 to acquire technology-advantaged properties, including data centers, internet gateways, corporate campuses for technology tenants, and life science properties located in core MSAs and leased to industry leading tenants. Since inception, TechCore has acquired over 2.9 million square feet of mission-critical data center, life science, and office properties throughout the US.
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