Lumen Technologies is selling its 45-acre corporate campus in Broomfield, Colorado, just outside Denver. The facility has been on the market for nearly a year, and now, it is being offered for auction, with an asking price of $6.5 million. The auction is set to begin on February 24, 2025.
Overview of the Broomfield Campus
The property, located at 1025 Eldorado Blvd, includes four buildings that total 791,700 square feet of space. This includes a fully operational data center and a 9.45-acre undeveloped parcel, providing potential for future expansion. The campus, built between 1999 and 2000, is poised for a new phase as Lumen transitions to a more streamlined business model.
The Data Center and Lease Terms
The data center located on the Broomfield campus remains a focal point of the sale. The facility is pre-leased through 2025, offering stability for potential investors. However, Lumen has indicated that the rest of the property will be delivered nearly vacant, allowing buyers flexibility in terms of occupancy and usage.
Reasons Behind the Sale
Lumen’s decision to sell the Broomfield campus reflects a strategic shift driven by evolving work patterns. The company explained that changes in how employees work, interact, and serve customers led them to reassess the need for such a large facility. Now, all employees work remotely or from two separate locations in downtown Denver.
Real Estate Market and Auction Details
The sale of this campus is notable within the context of the growing tech and data center real estate market in Denver. The city is home to significant players such as Iron Mountain, Flexential, EdgeConneX, and CoreSite, among others. Lumen’s other two properties in Denver, along with this auction, position the company as a key player in the region’s evolving real estate landscape.
What Does This Mean for Potential Buyers?
This auction provides an opportunity for businesses or investors looking to acquire a substantial data center facility in a prime location. The Broomfield campus offers significant room for growth, with the added advantage of an undeveloped parcel ready for expansion. The fact that the data center is pre-leased through 2025 makes this property an attractive option for those looking for a stable, income-generating asset in the tech and data center sector.
Frequently Asked Questions
1. Why is Lumen selling its Broomfield campus?
Lumen decided to sell the campus as part of a broader shift in its operational strategy. The company has embraced more remote work and reduced its physical office footprint, prompting the decision to sell the Broomfield facility.
2. What is included in the sale of the Broomfield campus?
The sale includes four buildings, totaling 791,700 square feet, and a 9.45-acre undeveloped parcel that could be used for future development. The data center is leased through 2025.
3. When is the auction for the Broomfield campus?
The auction will begin on February 24, 2025.
4. Who else owns data centers in Denver?
Several notable companies, including Iron Mountain, Flexential, EdgeConneX, and CoreSite, operate data centers in the Denver area.
5. What makes this campus appealing to potential buyers?
The Broomfield campus offers a large, fully operational data center with an existing lease in place, providing stability. Additionally, the undeveloped land offers expansion opportunities in a prime tech market.
