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Maxtor Regional HQ Trades for $60M-Plus

DENVER-The 450,000-sf R&D building is net leased to Maxtor Corp. on a long-term basis, which was acquired in May by publicly held Seagate Technologies.

By Brian K. Miller | Updated on July 05, 2006

DENVER-The 450,000-sf regional headquarters of Maxtor Corp. in Longmont, CO, has changed hands. Invesco of Dallas and Circle Capital Partners of Denver sold the facility to a New York-based investor group under the name FEIGA/Sandstone LP.

Keith Broemmer, an EVP with New York City-based Broad Street Advisors, the investment advisory that brought the buyer to the table, declined to comment on the purchase price or the length of Maxtor’s lease commitment. The seller’s broker, CB Richard Ellis, could not be reached for comment. Other sources tell GlobeSt.com that the property sold for upwards of $60 million and that Maxtor’s lease is “long-term.”

The building has been primarily used for research and development and was the regional headquarters for Maxtor. Broemmer says Maxtor currently occupies the facility but declined to say whether Maxtor was expected to occupy the facility for the duration of its lease.

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