TriZetto headquarters sells to New York group for $61.25M

TriZetto has several years remaining on its existing lease at 9655 Maroon Circle in Englewood.

The TriZetto World Headquarters building, a trophy asset in the southeast suburban office submarket, sold for $61.25 million, or $366.96 per square foot.

A joint venture of Lexington Realty Trust and Davidson Kempner Capital Management sold the 166,912-sf building at 9655 Maroon Circle in Englewood. Sentinel Real Estate Corp., a New York-based real estate investment management company, was the buyer, according to CoStar Group.

The building was built for TriZetto, a health care information technology company, in 2013. TriZetto has about nine years left on its existing lease, according to U.S. Securities and Exchange Commission filings. The company is owned by Cognizant Technology Solutions Corp., a strong-credit Fortune 500 company.

Located on an elevated site in Meridian International Business Center, the five-story building features high-end finishes and four stories of floor-to-ceiling glass, offering expansive views. It has a cafeteria and fitness center, along with a large outdoor patio space, 37,000-sf floor plates and 4.2 parking spaces per 1,000 sf. There are restaurants, hotels and a fitness center nearby.

CBRE’s Denver-based Capital Markets team of Mike Winn, Tim Richey, Charley Will, Chad Flynn and Jenny Knowlton handled the sale.

The TriZetto building was one of three headquarters buildings that CBRE took to market as a portfolio but that are being sold individually. Lexington Realty and Davidson Kempner Capital sold the Arrow Electronics World Headquarters in Centennial to Kawa Capital Management for $40.1 million, or $312.06 per sf. The third property in the portfolio, Global Healthcare Exchange Inc.’s headquarters in Louisville, reportedly is under contract.

Featured in CREJ’s Aug. 7-20, 2019, issue

Jill Jamieson-Nichols has been an Editor with the Colorado Real Estate Journal for more than 15 years, providing coverage of office, industrial, hospitality and mixed-use development news in the Denver metro area, plus all property types in Northern Colorado, Boulder County and along the Highway 36 corridor. Prior to joining CREJ, Jill was Editor of…