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Page 14 — COLORADO REAL ESTATE JOURNAL — April 1-April 14, 2015
Colorado Springs/So. Front Range
by Jennifer Hayes
A local investment group
acquired a Garden of the Gods
industrial building for $2.61
million.
The buyer, 1555 GOG LLC,
paid nearly $66 per square foot
for the 39,597-sf building at
1555 Gardens of the Gods Road
in Colorado Springs. The sale
of the facility comes less than
two years after the Los Ange-
les-based seller, 1555 Garden of
the Gods LLC, paid $2.24 mil-
lion for the building.
And just like when it sold
in 2013, the building was
snapped up in less than two
months, noted Randy Dowis
of NAI Highland LLC, who
represented the buyer of the
building. Dowis also represent-
ed the seller when it acquired
the property and handled full-
user Entegris’ lease of the space
in 2011.
The seller was represented by
Ryan Higgins, formerly of NAI
Highland and now with AIC
Commercial Real Estate Inc.
Entegris recently extended its
lease at the building, originally
constructed in 2000 for Intel.
Since it took occupancy, Enteg-
ris has made a significant num-
ber of improvements to make it
a “state-of-the-art manufactur-
ing facility,” added Dowis. “The
buyer is of the opinion, like me,
that a tenant investing heavily
in a property like this is going to
occupy it long-term. The buyer
liked the return on investment
and the capital improvements
Entegris put in.”
Amenities include a Class 10
cleanroom, power upgrades,
ESFR sprinkler system, 24-foot
high distribution space, and
one drive-in and three dock-
high doors.
Other News
n The 111-room Comfort
Inn South in Colorado Springs
recently sold.
HREC Investment Advisors
in conjunction with Auction.
com arranged the sale of the
hotel located at 1410 Harrison
Road.
According to public records,
CPE Holdings LLC paid $4.46
million to GCCFC 2007 GG9
Harrison Lodging LLC for the
hotel constructed in 1985.
Mike Dube, Jeffrey Duni
and Geoff Davis of HREC rep-
resented the seller during the
transaction.
“A resurgence of the Colo-
rado Springs market occurred
in 2014 with the rebound of
summer tourism to the area,
making it an ideal time to sell
this well-located asset via the
Auction.com platform,” said
Dube. “The new owner will be
undertaking renovations and
repositioning the hotel to the
Quality Inn flag in the near
future.”
The hotel is located on Inter-
state 25 at Lake Avenue, near
the Garden of the Gods cor-
ridor, Pikes Peak, Fort Carson,
Northrop Grumman and Lock-
heed Martin.s
Entegris recently extended its lease at the building, originally con-
structed in 2000 for Intel. Since Entegris took occupancy, it has made a
“significant” number of improvements.