Sale Transaction

NavPoint Real Estate Group Sells Nearly 110,000 SF Office/Industrial/Flex Asset in Colorado Springs for $5,600,000

By January 3, 2020 No Comments

Colorado Springs, CO – NavPoint Real Estate Group is pleased to announce it has completed the sale of an office/industrial/flex asset located at 850 Elkton Drive, in Colorado Springs, Colorado.

Built in 1977, the property was originally a manufacturing facility for wood cabinetry and paneling. Most recently it has been used as a church campus with many classrooms, offices, an auditorium, print shop, TV/Film studio, and more. The campus consists of 8 acres of land, with over 100,000 SF of office and warehouse space in the building.

The asset features plenty of parking with 318 spaces available, as well as a parking garage. It is also located proximate to a myriad of shopping and restaurants, with easy access to I-25 via Garden of the Gods Road.

“850 Elkton was a rare opportunity to acquire 100,000+ contiguous vacant square feet on the Garden of the Gods corridor,” said Matt Call of NavPoint Real Estate Group. “We experienced significant activity the day we went to market with the asset and the Buyer, SRAM Bike Company turned out to be the user for whom this property checked all the boxes.”

Matt Call, Collin Tedesco, and John Witt of NavPoint Real Estate Group represented the seller, Andrew Wommack Ministries, Inc., in this transaction. The buyer, SRAM, LLC, was represented by Paul Engel of NAI Highland, LLC.

This transaction successfully closed in December 2019.