Real Estate & Construction  May 25, 2022

Colorado Springs retail center sells for $11.95M

COLORADO SPRINGS — An East Coast investment company has acquired Pikes Plaza, a Colorado Springs retail center, for $11.95 million.

Pikes Plaza Holdings LLC, represented by Snowline Co., acquired the 72,740-square-foot property at 2202-2308 E. Pikes Peak Ave. from Pikes Plaza LLC.

Troy Meyer and Kevin Matthews of SVN | Denver Commercial represented the seller.

Primary tenants in the center include U.S. Bank, IntelliTec College and the Social Security Administration.

“We had several competitive offers, and the successful purchaser did a great job of working within their timelines to close on their acquisition in less than 75 days,” Meyer said in a written statement. “We were able to transact this within 5% of the asking price.”

COLORADO SPRINGS — An East Coast investment company has acquired Pikes Plaza, a Colorado Springs retail center, for $11.95 million.

Pikes Plaza Holdings LLC, represented by Snowline Co., acquired the 72,740-square-foot property at 2202-2308 E. Pikes Peak Ave. from Pikes Plaza LLC.

Troy Meyer and Kevin Matthews of SVN | Denver Commercial represented the seller.

Primary tenants in the center include U.S. Bank, IntelliTec College and the Social Security Administration.

“We had several competitive offers, and the successful purchaser did a great job of working within their timelines to close on their acquisition in less than 75 days,” Meyer said in a written statement.…