Net Leased Office Building in Colorado Springs Sells for $43.5M
Newmark has arranged the sale of a single-tenant net leased office building in Colorado Springs for $43.5 million.
Newmark’s Executive Managing Director Matt Berres and Director Samer Khalil, in cooperation with Managing Director Brian Wagner, represented the seller, a publicly traded real estate investment trust. The buyer was Midtown Capital Partners LLC, a Miami-based real estate investment and asset management firm with over $800 million under management.
The 152,753-square-foot property, located at 12515 Academy Ridge View, is occupied by Kratos Defense & Security Solutions, Inc, a defense contractor and security systems integrator for the federal government and for state and local agencies, headquartered in San Diego.
“While office transaction volume took a significant dip, especially in the second quarter of 2020, we have continued to see investor appetite for high quality, single tenant net leased office properties with long-term leases to investment grade and other select tenants across the country,” said Berres. “This property checked the right boxes for the buyer, and we were very pleased to assist with their first acquisition in Colorado.”