Office Asset in Colorado Springs Sells for $15M

Centennial Technology Center, located at 4820 and 4920 Centennial Boulevard in Colorado Springs, has sold for $15 million to Alturas Capital Partners of Eagle, Idaho.

Patrick Devereaux, James Brady and Campbell Davis of CBRE’s Denver office represented the seller, Presidio Property Trust from San Diego, Calif.

“Centennial Tech is a great diversification to Alturas’ Colorado Springs portfolio. It is a best of class, single-story office asset with tremendous credit and occupancy history. This investment will provide secure increasing cash flows for the long term,” commented Patrick Devereaux, senior vice president, CBRE.

This Class A, 110,405-square-foot property is located on 9.308 acres within the Garden of The Gods Office Park in northern Colorado Springs. The two-building Centennial Technology Center is 100 percent leased and anchored by Comcast and Walter Kidde United Technologies. The property offers one of the highest parking ratios in Colorado Springs (5:1000), and nearby access to Interstate 25 and numerous restaurants.

Colorado Springs was listed as one of the next 25 up-and-coming tech talent markets in CBRE’s 2019 Tech Talent report. Colorado’s tech talent pipeline continues to grow, fueled both by homegrown talent from Colorado universities and in-migration of highly educated professionals from out of state who are attracted to the region’s job opportunities and live-work-play culture.

Photo courtesy of CBRE

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