NavPoint Real Estate Group Sells Colorado Springs BBVA Compass Bank Asset within 45 days of going to market
navpoint / January 27, 2014
NavPoint Real Estate Group is pleased to announce the sale of 2805 Dublin Boulevard in Colorado Springs, Colorado. The property was sold at a 7.0% CAP rate in mid-January to Balbach Street Properties, LLC for $1,272,500 or $144.20 per SF after only 30 days on the market. The Seller was Terra West, LLC. Matt Call; Principal of NavPoint Real Estate Group represented the Seller in the transaction of the 8,824 SF single tenant triple net leased investment, leased at the time of sale by publicly held BBVA Compass Bank who has occupied the property since 1999. Just months prior to the sale, Matt Call also represented the Purchaser of the surrounding Cottonwood Square Retail/Office Development. Matt Call commenting on the transaction said “We had tremendous activity for this asset with multiple offers within 30 days of going to market, the quality of the tenant, strength of the location and long term tenancy of Compass proved attractive to a number of investors seeking single tenant NNN lease deals
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