Colorado Real Estate Journal - June 1, 2016
Kärcher North America’s high-image corporate headquarters near Denver International Airport sold for $19 million, or approximately $218 per square foot. Prologis, which developed the 87,200-sf building and leased it to Kärcher, was the seller. The buyer is believed to be an international institutional investor. Located at 4555 Airport Way, the building sits next to Prologis’ operational headquarters. Both buildings have highly visible signage, and they are the first corporate office buildings people see when heading into Denver from Denver International Airport. Kärcher is one of the world’s largest manufacturers and providers of floor care cleaning equipment and services for the industrial, commercial and residential markets. It signed a 10-year lease for the building about 1½ years ago, saying the building provided needed room for expansion and better reflected its corporate image than its previous location in Englewood. Constructed as a headquarters building, the four-story building has voluminous ceilings, a grand lobby with granite floors, a fitness facility, conference center, employee dining facility, and an outdoor plaza with seating and a water feature. It was built in 2008 and is LEED Silver certified. CBRE Inc.’s Mike Winn, Tim Richey and Chad Flynn reportedly handled the transaction. They didn’t respond to a request for comment on the transaction.