The StorageTek campus came with Sun's acquisition of Storage Technology in 2005. Sun Microsystems senior director Charles Barry says the company wanted to maximize the return for itself and the community by finding a corporate buyer that would use the site rather than an investor or speculative developer. "We're pleased with the transaction," he says. "Our primary goal was achieved."

JLL managing directors Kenneth Rudy and Michel Seifer negotiated the sale. Fuller Real Estate's Stew Mosko assisted with local marketing efforts. "This property was an attractive investment given the size of the site, its location north of Denver and adjacent to two major highways …, and access to the local technology-savvy workforce," Rudy says.

Seifer tells GlobeSt.com that the StorageTek campus consists of 11 buildings totaling 1.7 million sf concentrated in the middle of the 432-tract of land, which has not been approved for any more development than currently exists. It wasn't immediately clear whether ConocoPhillips plans to reuse some or all of the existing structures for its facility.