CoBank Center sells for $120M

The CoBank Center traded for $7 million more than its last purchase in 2015.

A global investor acquired a Greenwood Village office asset for $120 million.

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Sentinel Real Estate Corp. purchased the CoBank Center, the 274,287-square-foot office tower at 6340 S. Fiddlers Green Circle, from seller Samsung SRA and GLL Real Estate Partners.

Tim Richey, Charley Will, Jenny Knowlton, Chad Flynn and Jeff Shell of CBRE represented the seller. The buyer’s representative was undisclosed.

According to a CBRE press release, Sentinel Real Estate Corp. purchased the property on behalf of a client, which CoStar identified as Saudi Aramco, a Saudi Arabia-based oil and gas firm that owns roughly 115 commercial real estate properties across the U.S.

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CoBank, a national bank that is part of the U.S. Farm Credit System, houses its headquarters at the property, occupying the entire 11-story building. According to CoStar, the tenant has seven years remaining on its primary term.

The LEED Silver certified building features a full-service cafeteria, wellness center and 2,500-sf data center. The property last sold in 2015 following its construction for $113 million.

The CoBank Center is part of Shea Properties’ Village Center Station transit-oriented, mixed-use development project, which is adjacent to Interstate 25 and within walking distance of the Arapahoe at Village Center light-rail station. Its location, in a major commercial hub, puts it within a short drive from national retailers, including Target, Safeway, McDonald’s and Starbucks.

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Featured in the September 2-15, 2020, issue of CREJ

Jenna Walters recently joined the Colorado Real Estate Journal as a reporter. Jenna covers metro Denver retail and office news, and all property types in Boulder, Larimer and Weld counties. She also covers the finance market. Before joining CREJ, Jenna worked for other publications, including the Northglenn-Thornton Sentinel and Denver Life Magazine. She was born…