Sale Transaction

Colorado Springs Medical Office Asset Trades for $7.65 Million

By December 13, 2013 No Comments

Colorado Springs, CO – NavPoint Real Estate Group is pleased to announce the sale of the nearly 40,000 SF “Research One” Medical Office Building located at 8540 Scarborough Drive in Colorado Springs for $7,650,000.  This Medical Office Building is strategically located in the Northeast Submarket between the St. Francis Medical Center and Memorial Hospital.  The Class A finishes and location have attracted a high quality mix of medical and professional tenants including North Springs Family Medicine and Urgent Care, Tuttle Family Dentistry, The Shandy Clinic,  Skelton Orthodontics, and RidgeView Optometry to name a few.  The entire building is comprised of 13 condominium units totaling 42,769 SF and 11 of those units traded in the sale transaction totaling 37,498 SF.  This “fractionalized condo” asset created some challenges during the sale process for all parties, but the asset successfully closed on November 22nd.  The seller was Research One, LLC, an entity managed by local real estate developer and investor Joe Niebur.  The Purchaser was Pensa Nuwind, LLC, a private international investor.  Matt Call and John Witt of NavPoint Real Estate Group represented the seller in the transaction.

With this most recent sale, NavPoint Real Estate Group has closed nearly $18,000,000 in sale and lease transactions in the Colorado Springs market in 2013.  NavPoint Real Estate Group is a comprehensive Commercial Real Estate Services and Investment Firm with office locations in Denver, Castle Rock and Colorado Springs, Colorado. The company provides a wide array of services including Exclusive Brokerage Representation, Property/Asset Management, Consulting, and Investment throughout Colorado and the Western US covering all Commercial Property types. NavPoint brings an acute local market understanding combined with national reach and access to credit tenants and buyers to every client assignment. The firm is currently involved in the exclusive brokerage, ownership, or management or over 1,000,000 SF of commercial real estate covering all property types.  Local Colorado Springs NavPoint Brokers are Matt Call, John Witt, and Eric Berger.