July 11, 2018
DENVER – Transwestern today announces it brokered the sale of a flex/research and development property totaling 79,887 square feet at 4725 – 4755 Centennial Blvd. in Colorado Springs, Colorado. The property was purchased for $3.95 million by Amerco Real Estate Co., an affiliate of U-Haul, which intends to occupy the building’s 32,226-square-foot vacancy. Transwestern Managing Directors Brad Cohen and Larry Thiel provided disposition services for DMARC 2007 – CD5 Centennial Boulevard LLC.
Built in 1998, the property is currently 59.7 percent occupied by two tenants, Thin Metal Parts and Peak Analysis Automation. Located within the high-tech submarket of Colorado Springs, the property is at the intersection of Garden of the Gods Boulevard and Centennial Boulevard, less than 3 miles from Garden of the Gods Park.
“The property offers the unique synergy of proximity to surrounding amenities and outdoor recreation opportunities, access to major Colorado Springs arterials, and incredible views of Pikes Peak and Cheyenne Mountain,” said Cohen. “The auction process resulted in a sales price that exceeded expectations and attracted over 12 initial bidders.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.