Westfield Sells Panasonic Building
Omaha-based NewStreet Properties LLC has acquired the Panasonic Enterprise Solutions building at 6144 North Panasonic Way in northeast Denver for $22M.
Westfield Co. developed the 112,966 SF building in 2016 for PESCO, a technology and solar subsidiary of Panasonic that will remain as the building's tenant.
The building appealed to investors on multiple fronts, said CBRE Senior Vice President Tyler Carner, who, with Jeremy Ballenger and Jim Bolt, represented Westfield. The building, NewStreet’s first acquisition in Denver, has high visibility along Pena Boulevard and the University of Colorado A-Line, which connects Denver International Airport to downtown Denver.
The building is classified as a “smart building” because it produces more energy than it consumes with a 500 kilowatt solar power system and energy-efficient strategies. The building automation system is integrated with the air conditioning, lighting controls, electrical power panels and battery control system, allowing it to automatically distribute power across multiple sources and reduce its power consumption if the battery is low on charge and there is a lack of solar power during a utility loss.
Panasonic also has invested in the surrounding area. It chose Denver for its North American headquarters for its CityNOW initiative, a public-private partnership with the city that dedicates the 382 acres surrounding the 61st and Peña light-rail stop — Peña Station Next — to an environmentally sustainable development. The smart city includes free WiFi, LED street lights, pollution sensors, a solar-powered microgrid and security cameras at the light-rail station.