When a retail center loses a major anchor, there is a ripple effect that goes well beyond the closed doors of the big-box space. It spreads to the in-line retailers, the nearby retail centers, the owner’s own

The first Class A speculative office development in more than a decade in Colorado Springs now has its first tenant. Progressive Casualty Insurance Co. signed an 18,089-square-foot lease at The Offices at Victory Ridge, a two-building, 145,053-sf office and retail development at 10855 Hidden Pool Heights. “The Offices at Victory Ridge is the first Class…

An out-of-state investment group made its first Colorado acquisition with its record-pricing purchase in Colorado Springs. Clear Capital LLC of Los Angeles paid $26.1 million, or $207 per square foot, for The Palmer Park Apartments – a record price per sf for multifamily assets built in Colorado Springs prior to 1990. The 200-unit community at…

As we enter 2020 in the longest bull market run since World War II, there is little question we have entered uncharted waters in the investment landscape, particularly for those of us in the multihousing space.

A newly built multifamily community in Colorado Springs sold to an Atlanta-based buyer for $37.1 million, or $249,000 per unit. Cortland Partners purchased One330 Apartments at 1330 Kelly Johnson Blvd. in an off-market transaction. The 149-unit community was in lease-up at the time of sale. “One330 is situated in a well-established area of central Colorado…

A single-tenant, net-leased Kneaders Bakery and Café in Colorado Springs recently sold. The Kneaders Bakery and Café at 13482 Bass Pro Drive sold for $2.93 million and at a 5.12% cap rate, representing one of the lowest cap rates ever for a single-tenant Kneaders Bakery and Café nationally, according to CoStar. A Colorado-based 1031 exchange…

Berkadia arranged financing on behalf of a private investment firm based in Las Vegas for its acquisition of two self-storage facilities, including the AAA Platte Self Storage in Colorado Springs. Senior Managing Director Cutt Ableson and Associate Director Johnny King of Berkadia’s Houston office secured the loans for Crystal View Capital. MidCap Financial Services provided…

A new buyer to the Colorado Springs market purchased the Advenir at Spring Canyon apartment community at record pricing. Benedict Canyon Equities paid $69.3 million, according to public records, for the 292-unit community at 4510 Spring Canyon Heights. At $237,329 per unit, the price appears to be a record per-unit price paid for 1990s product…

Candlewood Suites is coming to Westgate. Utah-based hospitality firm Western States Lodging and Nuterra Partners, a Utah-based development and management company, are under contract on a 1.86-acre parcel in the 58.71-acre Westgate at Powers mixed-used project in southeast Colorado Springs. The partnership is planning to construct a 104-key Candlewood Suites at the development, located at…