The Westminster headquarters of space technology firm Vantor, the company formerly known as Maxar Technologies, has sold for just over a third of what it fetched a decade ago.
An entity affiliated with Southern California’s AXS Opportunity Fund paid $32 million in late October for the office complex at 1300 W. 120th Ave., according to public records.
The property was sold by Peakstone Realty Trust, which bought it in 2014 for $92 million.
The latest sale represents a 65% drop. JLL marketed the property for sale.
The Westminster property is 31 acres, according to Adams County records. The connected buildings on it add up to 482,000 square feet, so the deal works out to $66 a square foot. The complex is known for the windowed roof of its lobby, which resembles a satellite dish.
The office complex was built in 2001 for Avaya, a technology firm based in New Jersey. That company was replaced by DigitalGlobe, which was acquired in 2017 by Maxar Technologies. At the time Maxar was based in Canada. The following year, Maxar announced it would move its headquarters to the Colorado complex.
In 2023, Maxar was acquired and taken private by a private equity firm, which split it into two. Maxar Intelligence remained based in Westminster, while Maxar Space Systems is based in the San Francisco Bay Area.
Last month, both companies rebranded. Maxar Intelligence took on the name Vantor.
Vantor spokesman Tomi Maxted told BusinessDen that 500 company employees work out of the complex. He declined to discuss lease specifics, but AXS managing partner Shahram Afshani said Vantor leases all of the space and has “a number of years” left.
“I think they’re committed to the building,” he said, adding that he’s optimistic about renewal.
AXS has real estate holdings around the country, but this is its first in Colorado, Afshani said.
Peakstone, the Southern California-based seller, is converting into an industrial-only REIT, with an emphasis on the industrial outdoor storage sector.
The Westminster property isn’t the only one that Peakstone sold to AXS last month. The two firms also struck a deal for a 238,000-square-foot office tower in Memphis, Tennessee, leased by International Paper Co., according to the Memphis Commercial Appeal newspaper.
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