BROOMFIELD, CO-Hines today confirms it bought the 461,000-sf, class A Mountain View Corporate Center in the Interlocken business park in Broomfield as part of its US Office Value Added Fund. The seller is Legacy Partners and one of Goldman Sachs’ Whitehall Street Real Estate funds.

The price wasn’t disclosed. “We sometimes release the price we paid if we buy a building with a REIT, and we have to publicly disclose it, but this is a value-added deal, so we aren’t disclosing any financial details,” a Hines spokeswoman tells GlobeSt.com from its Houston office.

Mountain View is comprised of three, three-story buildings and one four-story building. They are at the entrance of Interlocken along the US 36 corridor between Denver and Boulder. Legacy developed Mountain Center from 1999 to 2001, when the tech boom was in full swing and fueling construction growth along the corridor, known as Denver area’s version of Silicon Valley. The corridor’s vacancy rate went from 2% to more than 50% in one year, an unprecedented drop for any submarket in the metro area.

The corridor, however, is now recovering nicely. “Mountain View Corporate Center presents a great opportunity to own a class A campus in a location that will benefit from the continued economic growth of the Denver and Boulder metro areas,” says Dave Congdon, a Hines senior vice president and fund manager. “Including this acquisition, the fund is nearly 80% invested.”

Hines will manage the property, which is 83% leased. Tenants include Whitwave Foods, Zoll Data Systems, and AcxiomCorp. Hines plans to lease the existing vacant space and is preparing for the near-term rollover of tenants, which will leave the building 72% leased. The transaction was handled by Cushman & Wakefield of Colorado brokers Michael T. Winn and Timothy P. Richey. Winn and Richey represented Legacy. Hines represented itself.

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