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Page 12 — COLORADO REAL ESTATE JOURNAL — March 4-March 17, 2015
FOR SALE
LAS PIEDRAS OFFICE CAMPUS
12265, 12295 & 12325 ORACLE BLVD. • COLORADO SPRINGS, CO 80920
HELEN CAMERON KEVIN BUTCHER
719-535-0500 • 303-780-0500
Brokerage • Property Management • Construction • Tax Appeals
PROPERTY DETAILS
• Sale Price: $11,000,000 • 3 Office Buildings • Total Square Footage: 71,042 SF • Lot Size: 5 Acres
The buildings are available as a portfolio of 3 or the can be sold individually
Colorado Springs/So. Front Range
by Jennifer Hayes
A Denver-based buyer
acquired a sought-after, mixed-
use asset in Colorado Springs for
$7.45 million.
Beemer Building & Brew LLC
paid $123.86 per square foot for
Cottonwood Square, a 60,147-sf
retail and office property at 2809-
2873 Dublin Blvd. and 6455 N.
Union Blvd., one mile from Inter-
state 25 in the northeast part of
the city.
“It’s a nice asset in good con-
dition,” Matt Ritter of Pinnacle
Real Estate
Group said
of the prop-
erty, which
represents the
buyer’s first
acqu i s i t i on
in the Colo-
rado Springs
market. Rit-
ter, along
with Pinnacle
Real Estate’s Peter Sengelmann,
represented Beemer Building &
Brew, which purchased Cotton-
wood Square as part of a 1031
exchange.
“There was a lot of interest
in Cottonwood Square,” added
Matt Call of
N a v P o i n t
Real Estate
Group.
The proper-
ty was under
contract with-
in four days of
going on the
market, which
speaks to the
demand in
acquiring neighborhood retail
properties, commented Call.
Adding to the asset’s attrac-
tiveness, Cottonwood Square
is situated in a submarket with
little other retail competition in
close proximity and Cottonwood
Square is situated on two sepa-
rate legal parcels, allowing for
an exit strategy that permits the
office and retail portions of the
property to be split up, he added.
Call and NavPoint Real Estate’s
John Witt represented the seller,
Cottonwood Square LLC.
Built in 1984, Cottonwood
Square comprises a two-sto-
ry 21,461-sf office building and
38,686-sf, single-storyretailproper-
ty.At the time of sale, Cottonwood
Square was 86 percent leased to a
variety of local and regional ten-
ants, including Farmers Insurance,
Dublin Medical Clinic, Joint Effort
Physical Therapy, Kwik-Way Store
and State Farm.
A Denver-based buyer made its first acquisition in Colorado Springs
with its purchase of an office and retail asset in the northeast part of
the city for $123.86 per square foot.
The retail portion of Cottonwood Square comprises nearly 39,000
square feet.
Matt Call
Matt Ritter