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May 6-May 19, 2015 —
COLORADO REAL ESTATE JOURNAL
— Page 19
Colorado Springs/So. Front Range
by Jennifer Hayes
An
out-of-state
buyer
acquired a portfolio of three
net-leased properties in Colo-
rado Springs for $6 million.
Spirit Master Funding IX
LLC purchased the properties,
each of which are under new,
15-year corporate leases with
Caliber Collision, one of the
largest collision center opera-
tors in the United States with
more than 200 locations.
“Caliber Collision is rapidly
expanding in Colorado and
around the country,” explained
Troy Meyer
of Sperry Van
Ness. “Cali-
ber had pur-
chased the
seller’s col-
lision center
business last
year, which
included all
three loca-
tions.
The
seller maintained ownership of
the real estate, which he suc-
cessfully completed his dispo-
sition of through this transac-
tion.”
Meyer, along with Sperry
Van Ness’ Kevin Matthews
and Dean Cory represented
the seller, IGH LLC. The buyer
was represented by Ryan But-
ler and Brad Moulder of Stan
Johnson Co.
The sale comprised the Cali-
ber Collision properties at 790
Copper Center, 10778 Maltese
Point and 4635 Park Vista Blvd.
The Copper location, built in
2012, comprises 15,240 square
feet; the Maltese Point location,
built in 2009, comprises 9,882
sf and the Park Vista property
built in 1978 and renovated in
2014 totals 14,069 sf.
Other News
n
Cascade Commercial
Group
completed a number
of transactions during the first
quarter of 2015, including the
sale of 104 Pro Rodeo Drive in
Colorado Springs.
Dr. Steven Barrick
purchased
an 8,000-square-foot building
for $800,000.
Barrick will occupy approxi-
mately 80 percent of the build-
ing.
“This represents a fair price
for both buyer and seller in this
market,” said
Ted Link
of Cas-
cade. “A lot of medical office
buildings have changed hands
but have been primarily invest-
ment in nature where this sales
represents a user transaction in
our market.”
Link and
Ted Breitenstein
of
Cascade represented Barrick.
Cascade Commercial Group
represented
Dr. Nawei Jiang,
an acupuncturist, who pur-
chased 1010 W. Colorado Ave.
in Colorado Springs from
Adams Bank and Trust.
The
new owner plans on renovat-
ing any vacant spaces and leas-
ing them within the next 12
months. The purchase price
was $295,000 for the 3,910-sf
building.
The firm also represented
Bethesda Real Estate
in its
lease of 3,300 sf to
Dr. Neil
McAllister.
McAllister will
occupy the space this summer
and represents the third optom-
etrist that Cascade Commercial
Group has facilitated a transac-
tion with in the last six months.
McAllister was represented
by
Brett Ogden
of
Hoff and
Leigh.
The lease will bring
the occupancy rate at 6160
Tutt Blvd. up to a level of 82
percent.
s
Caliber Collision properties sell for $6 million to out-of-state buyerAn out-of-state buyer acquired the three net-leased properties, each under new, 15-year corporate leases
with Caliber Collision.
The building at 104 Pro Rodeo Drive in Colorado Springs traded for $800,000. See Other News.
Troy Meyer