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Colorado Springs Tech Center office building sells for $7.9M

Built in 1984, the three-story office building was nearly fully occupied at the time of sale – with a single 790-sf space available.

A Class A office building in the Colorado Springs Tech Center Office Park recently sold in one of the highest-priced office sales in the market this year.

Ramshorn Investments LLC paid $7.9 million for Tech V, an approximately 54,174-square foot office building at 5475 Tech Center Drive in Colorado Springs.

Built in 1984, the three-story office building was nearly fully occupied at the time of sale – with a single 790-sf space available.

Seller Tech V LLC in its ownership improved occupancy with a slate of solid tenants, noted Taylor Stamp of Quantum Commercial Group Inc., who represented the seller in the off-market sale.

Tenants at the building include ERA Shields Real Estate, Webster University and the General Services Administration as well as a mix of smaller tenants.

Amenities at the building include visibility from Interstate 25, building signage and views of Pikes Peak on the west side of the building.

Michael Palmer and Paul Palmer, also of Quantum Commercial Group, represented the buyer.

This year the Colorado Springs office market also has seen the $33.63 million sale of Union Medical Campus, a medical office property, the $15 million sale of Centennial Technology Center, the $10.57 million sale of One Commerce and the $8.24 million sale of Powers Professional II.

Featured in the August 8-15, 2020, issue of CREJ