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Digital Realty Trust Sells Stanford Place II

TIAA-CREF Buys Class A Denver Tech Center Site for $60M
August 21, 2006
TIAA-CREF acquired the 366,184-square-foot Stanford Place II building at 7979 East Tufts Ave. in Denver for $60.42 million, or $165 per square foot.

Located in the heart of the prestigious Denver Technological Center, the 17-story, Class A office building is on 5.61 acres.

Tim Richey and Mike Winn of Cushman & Wakefield represented the seller, Digital Realty Trust, which netted about $18 million profit from the sale. The buyer was represented in-house.

The Stanford Place II sale was part of a series of transactions by Digital Realty Trust, which recently acquired a 347,000-square-foot Internet data facility in Phoenix for $175 million, a 263,000-square-foot data center in Fort Worth, TX for $50.6 million, and a two-building, 33,000-square-foot complex overseas in Amsterdam, The Netherlands for $11.3 million. The Fort Worth facility is fully leased to Savvis Corp. for the next 15 years.
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