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Case Study

High-Tech Transaction Beams Over Colorado

Sun Microsystems made the strategic decision to streamline operations at their Denver location and to sell the under-utilized StorageTek 432-acre technology campus. They begun the process by relocating employees to their nearby Broomfield campus, now they needed a trusted real estate advisor to market and negotiate the sale of the StorageTek site.  As a long-term client, Sun turned to the Jones Lang LaSalle team knowing they could deliver the optimal results.

During the market process there was numerous speculations as to who the buyer would be for a property of this size and significance. The transaction was highly contested and kept strictly confidential; government officials were notified as to the identity of the buyer the day the deal was completed.

Sun’s primary objective was to sell the property to a corporation and not to a speculative developer. Energy company ConocoPhillips purchased the campus site for $58.5 million. ConocoPhillips announced they would develop a renewable-energy research hub and learning center on the site—noted as one of the largest deals in Colorado history.

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