A mission-critical operations center in the center of the Denver-Julesburg Basin sold for $32.5 million, or $282 per square foot.
Occidental Petroleum Corp., formerly Anadarko Petroleum Corp., occupies the 114,524-square-foot building, which is located at 501 N. Division Blvd. in Platteville. John Jugl, Newmark Knight Frank vice chairman, Western Region Capital Markets, represented the seller, Platteville Energy Partners I LLC.
The buyer’s name wasn’t disclosed, but Weld County records list it as CIM OFC Platteville CO LLC, an apparent affiliate of Phoenix-based CIM Group.
“The sale, which achieved extraordinary high pricing for Weld County, comes at a time in which regulations surrounding the oil and gas industry throughout the state of Colorado remain at the forefront of state and local legislative discussions,” Jugl said in a press release. “The property’s unique location, integrated operations center and Anadarko’s long-term commitment to the D-J Basin were all driving factors in the sale.”