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Shea Buys Tech Center in $150M Deal

DENVER-Shea buys assets of the Denver Technological Center, the premier office park in the metro. The deal includes the 1,600-acre Meridian International Business Center, 800-acre Meridian Village, eight office buildings and Marina Square Shopping Center.

By John Rebchook | Updated on February 01, 2006

DENVER-Shea Homes and Shea Properties has acquired the assets held by the Denver Technological Center. Although the purchase price wasn’t released, sources tell GlobeSt.com it sold for about $150 million.

The deal closed as the tech center’s corporate parent, London-based Peninsular & Oriental Steam Navigation is in play. DP World, the port company owned by Dubai, recently offered $9.87 billion for P&O. PSA International, Singapore’s largest port company that is owned by Temasek, the Singapore’s government’s investment company, also has been bidding for P&O.

DTC’s assets include land within the tech center as well as the Meridian International Business Center and 800-acre Meridian Village master-planned community in Douglas County. The tech center’s land lies in both Denver and Greenwood Village.

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