Office/Industrial Asset on the Garden of the Gods Corridor Sells for $5.6M
NavPoint Real Estate Group has completed the sale of an office/industrial/flex asset located at 850 Elkton Drive, in Colorado Springs.
Built in 1977, the property was originally a manufacturing facility for wood cabinetry and paneling. Most recently it has been used as a church campus with many classrooms, offices, an auditorium, print shop, TV/Film studio, and more. The campus consists of eight acres of land, with more than 100,000 square feet of office and warehouse space in the building. The asset features plenty of parking with 318 spaces available, as well as a parking garage. It is also located proximate to a myriad of shopping and restaurants, with easy access to I-25 via Garden of the Gods Road.
Matt Call, Collin Tedesco, and John Witt of NavPoint Real Estate Group represented the seller, Andrew Wommack Ministries, Inc., in this transaction. The buyer, SRAM, LLC, was represented by Paul Engel of NAI Highland, LLC. This transaction successfully closed in December 2019.
“850 Elkton was a rare opportunity to acquire 100,000+ contiguous vacant square feet on the Garden of the Gods corridor,” said Call. “We experienced significant activity the day we went to market with the asset and the Buyer, SRAM Bike Company turned out to be the user for whom this property checked all the boxes.”