BrokerageRetail

Office Building in Major Retail Corridor Sells for $1.85M

A two-story, 30,843-square-foot office building located in the Centerpointe Plaza shopping center in Colorado Springs, has sold for $1.85 million.

CBRE retail specialists Patrick Kerscher, Dan Rodriguez and Whitney Johnson based in Colorado Springs represented the seller, Office Pad, LLC, from Phoenix, Ariz. Weston Thomas and Colin Thomas of Westward Properties represented the buyer, Spackler Capital, LLC, of Colorado Springs.

“This well-positioned building, known for its mirrored glass façade, is situated in one of Colorado Springs’ major retail corridors, surrounded by entertainment venues, restaurants and a wide variety of retail opportunities along the northern Academy Boulveard corridor,” stated Mr. Kerscher. “People feel strongly about this area due to its impressive residential density and
convenient access to all areas of town.”

Originally constructed in 1984, the office building sits on 1.38 acres at 5731-5759 North Academy Boulevard at the southeast corner of North Academy Boulevard and Vickers Drive. The building sale also included 55 parking spaces.

The retail tenants within the larger shopping complex include Tuesday Morning, Key Bank, Dollar Tree, Boot Barn, Woodley’s Fine Furniture and International Beauty Academy.

The building is currently unoccupied, but the buyer is already underway on major interior and exterior renovations for new medical office users with a planned completion in the summer of 2020.

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