West Coast investors swap Broomfield data-center property

BROOMFIELD — A pair of California real estate investment outfits have traded a 92,800-square-foot data center in Broomfield for $26.5 million.

GI TC Broomfield LLC, a holding company registered to San Francisco real estate investor and private equity firm GI Partners, bought the property at 11525 Main St. this month from LD DI Assetco LLC, an entity affiliated with El Segundo, California-based real estate acquisition, development and management company Landmark Dividend LLC, Broomfield property records show.

Recent tenants include financial services organization TIAA-CREF and footwear umbrella company Deckers Outdoor Corp., which owns brands such as Ugg and Teva. 

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The deal appears to be Landmark Dividend’s first in the area, but it’s by no means the company’s first call- or data-center asset. LD’s website boasts that it has more than $1 billion in digital infrastructure properties under management.

GI Partners had held the data center since 2016, when the company partnered with the California Public Employees’ Retirement System to buy it for $17.5 million.

That deal marked the first Boulder Valley transaction for the joint venture.

GI Partners had previously made waves in the local real estate market with the 2009 takeover of a controlling stake in The Macerich Co.’s (NYSE:MAC) Flatiron Crossing mall in Broomfield.

Steve Smith, who took over as CEO of Boulder’s Zayo Group Holdings Inc. in 2020, was previously a managing director at GI Partners.