Retail Property Sales in Colorado Springs Up More Than 300% Y-O-Y
Two shopping centers in Colorado Springs have sold. Colorado Springs Ranch at 6010-6080 N Carefree Circle sold for $8.3 million, while Peterson Square at 6809 Space Village Avenue sold for $5.55 million in a separate transaction. According to CBRE research, in Colorado Springs retail property sales over $500,000 totaled $233.8 million for the first half of 2022, up more than 300% year-over-year.
The CBRE team of Parker Brown, Matthew Henrichs, and Brad Lyons represented the seller in each transaction. This is the team’s seventh and eighth retail property sale in the Springs so far this year.
“Colorado Springs has emerged as a highly sought-after growth market in the western United States for private capital real estate investment. Investors appreciate the region’s skilled and educated talent, world-class education and research sectors, and recreational offerings. As evidenced by our recent sale activity, these trends along with attractive retail market fundamentals have drawn incredible demand for retail properties across the Colorado Springs market,” said Brown, vice president, CBRE.
Springs Ranch Shopping Center is a 40,331-square-foot, multi-tenant retail center located at 6010-6080 N Carefree Circle in the highly trafficked Powers Boulevard retail corridor of Colorado Springs. Anchored by Springs Liquor Outlet, the center is 100% leased to a mix of retail and medical tenants with long-term leases. A private Denver-based partnership sold the property.
Peterson Square is a 14,182-square-foot shopping center located at 6809 Space Village Avenue, steps from the north entrance to Peterson Space Force Base, a U.S. Space Force Base with more than 45,000 personnel. Peterson Square is also fully leased, with a mix of daily needs, quick-service restaurants, and service-based tenants, also with long-term leases. A Denver-based private fund sold the center.