Woodland Park, CO – NavPoint Real Estate Group is pleased to announce it has completed the sale of Woodlands Exchange, a 13,350 square foot medical building located at 509 S Scott Avenue. The asset is located in Teller County, within the Colorado Springs MSA, in the affluent and rapidly expanding city of Woodland Park.
Woodland Exchange was recently constructed in 2006 and has been meticulously maintained. The property experiences excellent visibility to more than 26,000 vehicles per day and is easily accessible from the main thoroughfare on U.S. Highway 24.
The building is 96.5% occupied by a diverse mix of medical and professional office tenants. National retailers in the immediate vicinity of the property include Safeway, Natural Grocers, Walgreens, McDonald’s, Arby’s, Sherwin Williams, and several others.
Matt Call of NavPoint Real Estate Group represented the buyer, 240 Wilcox LLC, in this transaction. The seller, VIG Woodland LLC, was unrepresented.
According to Call, “This was a well-located asset with future rent growth upside but with an excellent in place rent roll. Our firm was very excited to represent the buyer in this acquisition on the replacement in a 1031 exchange.”
This transaction successfully closed in December 2019.