CBRE Brokers $6.6 Million Sale of 77,608-sq.-ft. Woodmen Office Campus II in Colorado Springs
17 1月 2020
CBRE announced the $6,615,000 sale of Woodmen Office Campus II, a 77,608-sq.-ft. office building located at 7450 Campus Drive in Colorado Springs, Colo. James Brady, Campbell Davis and Patrick Devereaux with CBRE’s Denver office, along with Nicola Myers-Murty of CBRE’s Colorado Springs office, represented the seller, an institutional investor out of Dallas, Texas. The American Way Group, LLC, from Saint Charles, Mo., purchasedthe property in a sale that closed Dec. 20, 2019.
“Woodmen Office Campus II offered investors the opportunity to acquire a property with exceptional interstate visibility, high-profile tenancy and attractive building fundamentals at a significant discount to replacement cost—and within an office market experiencing robust rent growth and healthy office leasing activity. With a portion of this building currently vacant, there’s also the opportunity to add value to the investment through full lease-up,” stated Mr. Brady.
Built in 1996, the two-story property is 79% leased tothree tenants. Regis University and ENT Credit Union lease the first floor, while VMware, Inc. occupies a large portion of the second floor. Suite 250 on the second floor currently has 16,182 sq. ft. available for lease.
“Companies appreciate that Woodmen Office Campus II provides their employees Class A space with incredible mountain views and abundant parking in a convenient and central location near I-25 and numerous retail amenities,” added Ms. Myers-Murty, who retained the leasing assignment for the building.
Woodmen Office Campus II is located at the northeast intersection of East Woodmen Road and I-25. Nearby dining options includeOld Chicago, The Margarita at Pine Creek, Outback Steakhouse and Carrabba’s Italian Grill. An Embassy Suites, Best Western, Hampton Inn, Holiday Inn and Staybridge Suites are all located across the highway.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.