DigitalGlobe, Inc. | Global Headquarters

Property Description

The property will serve as the future global headquarters for DigitalGlobe, Inc. (“DigitalGlobe”), a leading global provider of commercial high-resolution earth imagery products and services. The property is currently leased to the seller, Avaya, Inc., through June 2015, immediately after which a lease with DigitalGlobe will commence. The 430,000 square foot, four-story, iconic office property located in Westminster, Colorado (the “property”) was developed in 2002, and features a satellite dish-shaped central atrium among its prominent architectural features. DigitalGlobe, which currently occupies a smaller building in Longmont, CO, approximately 23 miles from the property, recently acquired their largest domestic competitor, GeoEye (who is also located nearby), and the combined company’s operations will be consolidated into this property.

Business Essential Attributes

The property is critical to DigitalGlobe’s business, as it has been selected as their new global headquarters. Critical functions that will take place at the property include flight control of satellites, secure government operations (in specialpurpose SCIF rooms), data center operations, production and sale of images, and all the typical corporate functions found in a traditional headquarters. The combined budget to renovate the building prior to DigitalGlobe’s occupancy is $50 million, underscoring the substantial improvements being made.

Additional Property Information

DigitalGlobe was attracted to the property for several reasons: (i) the building’s quality construction and efficient, functional configuration, including large floor plates, floor to ceiling dual pane windows, a spectacular lobby, finished ceiling heights of over nine to twelve feet, SCIF space, a cafeteria, indoor/outdoor seating areas and two well-placed parking structures on the east and west sides of the property; (ii) the property’s location in Northwest Denver, known as Colorado’s “Silicon Valley,” and midway between Downtown Denver and Boulder, which enables DigitalGlobe to draw from the area’s pool of highly skilled employees with industry-specific knowledge; and (iii) the seller’s willingness to fund $21.5 million ($50 per square foot) of the planned $50 million ($116 per square foot) comprehensive renovation that will substantially augment the building’s data center, enhance the IT infrastructure, expand the food service and employee amenities, and purchase new workstations.

In The News

DigitalGlobe launches crowdsource search for missing Malaysian plane.
No Confirmed Debris Found in Jet Search

DigitalGlobe, Inc. | Global Headquarters

Westminster, Colorado

PROPERTY AT A GLANCE

Property Type: Class A Office
Square Footage: 430,000

Leased: 100%
Sale/Leaseback Term (with Avaya, Inc.): January 14, 2014 to June 30, 2015
DigitalGlobe, Inc. Lease Term: July 1, 2015 to June 30, 2030
DigitalGlobe, Inc. Renewal Option(s): Two 5-year options at Fair Market Value
DigitalGlobe, Inc. Rent Increase(s): 2.50% per annum (beginning July 1, 2016)
Current Tenant: Avaya, Inc.
Future Tenant: DigitalGlobe, Inc.
Website: www.digitalglobe.com