Garden Gateway Plaza has sold for $11.2 million to Idaho-based Alturas Capital.
Presidio Property Trust sold the three-building office complex in an off-market transaction that closed Feb. 19 and was announced last week.Â
Located at 1355, 1357 and 1365 Garden of the Gods Road, Garden Gateway Plaza totals 115,052 square feet on 7.42 acres.
The property was 92 percent leased at the time of sale.Â
Patrick Deveraux, James Brady and Campbell Davis with CBRE Capital Markets represented Presidio Property Trust.
Alturas also purchased the three-building NorthCreek Office Complex in northern Colorado Springs from Younan Properties in a $47 million deal announced in February.
Younan Properties Sells Colorado Office Park for $47M
Alturas Capital acquired the three-building asset south of Denver. Feb052021
Image courtesy of CBRE
Younan Properties has sold NorthCreek Office Complex, a three-property park encompassing 325,208 rentable square feet in Colorado Springs, Colo. Alturas Capital acquired the asset for $46.6 million and Bellco Credit Union originated a 10-year, $34.2 million acquisition loan.
The trio of buildings previously traded in February 2015, when U.S. Bank sold them for $15.8 million, CommercialEdge shows. The lender had come to own the assets after it foreclosed on a $146.5 million CMBS loan originally issued for Corporate Office Properties Trust.
Located on 17 acres at 5725, 5755 and 5775 Mark Dabling Blvd., the three buildings were completed between 1984 and 1989. The property has an on-site café, a conference room, and a gym with locker rooms and showers. At the time of closing, the office complex was 89 percent le