KBS sells trophy office tower in Denver for $66m

KBS has sold Peakview Tower, a nine-story, 264,149-square-foot office tower in Greenwood Village, Colo., within Denver’s Southeast market. The property was purchased by a joint venture led by Vanderbilt Office Properties for $66 million, and it is the firm’s first asset in the market.

KBS had originally acquired Peakview Tower in August 2012, recognizing the strong value potential of the Denver market, according to Gio Cordoves, western regional president for KBS.

“As in all of the markets in which KBS invests, Denver features strong employment and population growth, solid infrastructure, and a number of respected universities. The market also attracts top tech talent, with millennials comprising 33 percent of the population and Denver having the biggest net migration of millennial residents in 2019,” said Cordoves. “In acquiring this trophy office property nine years ago, KBS identified a well-located, top-quality asset in an emerging market positioned for s