Dunton Commercial has closed on its second acquisition of 2019. Dunton, along with Hampton Partners, have acquired the vacant Toys R Us and adjacent office building located at Academy Blvd and Galley Rd in Colorado Springs.
“This is a very exciting opportunity to drastically improve one of the best corners on Academy Blvd. By acquiring both sites, we are able to control 5.3 acres which will be re-platted into three parcels, allowing for two, 1-1.25 acre pad sites fronting Academy Blvd. Dunton will be drastically improving access to the site with several new ingress/egress curb cuts. We will be exploring various adaptive re-use opportunities for the Toys R Us building as well as marketing for sale to owner-user operators. We will be marketing the pad sites for ground lease and sale; targeting financial, gas station, fast food, and medical users,” says Nate Melchior, director of Investments and Business Development, Dunton Commercial.
Patrick Kerscher of CBRE in Colorado Springs will be marketing the properties for sale and lease.
This is a highly visible corner at a signaled intersection with more than 60,000 cars per day. The City of Colorado Springs is excited to see something new and beneficial happening at this intersection.
Earlier this year, Dunton acquired Huron Plaza, a 110,000-square-foot value-add shopping center in Thornton. Dunton will continue to seek value-add investment opportunities along the Front Range of Colorado.
Dunton Commercial is a professional, commercial real estate company offering Property Management, Accounting, Investment, and Advisory Services across all sectors of the Commercial Real Estate industry. The company’s primary focus is to provide exceptional property management services to owners of quality office buildings, retail centers, and industrial complexes in the Denver Metropolitan area. Dunton currently manages 3 million square feet of office, retail, and industrial assets from Colorado Springs to Longmont.
Image courtesy of Dunton Commercial
