45-acre Broomfield office campus for sale as Lumen Technologies plans exit
This story first appeared on BusinessDen.com, a BizWest news partner.
Lumen Technologies wants to dial out of Broomfield.
The company formerly known as CenturyLink, which provides phone, internet and other telecommunications services, is trying to sell its 45-acre office campus in the city at 1025 Eldorado Blvd.
The property includes 768,991 square feet of rentable space across four interconnected buildings, according to marketing materials created by the brokerage Newmark and obtained by BusinessDen.
A buyer would start from scratch because Lumen does not plan to lease back the property after a sale.
“The property is being conveyed 100% vacant,” the document states.
Lumen spokesman Mark Molzen told BusinessDen the company, which also has other local offices, is embracing a hybrid work model.
“Our plan is to reshape our footprint in the Denver area, using existing buildings, while maintaining a strong presence in the area,” Molzen said in an email.
The Broomfield property was previously the headquarters of Level 3 Communications, which then-CenturyLink acquired in 2017. CenturyLink changed its name to Lumen in 2020, although the company still offers services under the CenturyLink name.
The campus was built in 1999 and 2000, according to the marketing materials, which do not list a desired price. In addition to rows upon rows of cubicles, floor plans show a cafeteria, gym and data center and warehouse space. There’s a pavilion and basketball court outside.
The property has parking for 3,085 vehicles, half of which are in parking garages. An adjacent 9.5-acre undeveloped parcel also owned by Lumen is available as well.
Newmark’s marketing materials attempt to convince prospective buyers that the property would be a natural fit for companies in the life sciences sector.
“Many of these firms are based or founded in Boulder, however, as they continue to outgrow the limited offerings the city has, many are opting to move down the corridor to larger spaces while remaining close to the University of Colorado and the national funded labs in both Denver and Boulder,” the materials state.
Financial projections in the document project that the property could get $22 per square foot for office tenants, and $50 per square foot for life science users, although the latter would require a landlord to spend more on tenant improvement allowances and leasing commissions.
Also in Broomfield, Vail Resorts is looking to sublease a portion of its headquarters office space about two miles away at 390 Interlocken Crescent.