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11/23/21
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Denver-based Broe Real Estate Group paid $33.25 mil for the Briargate Portfolio, a three-building, Class A office and office/flex portfolio totaling approximately 260k sf ($128/sf) in northern Colorado Springs, CO. The portfolio is located at Telstar Dr and Research Pkwy, within the premier Briargate Business Campus.
The Briargate Portfolio consists of three Class A buildings located at 1755 Telstar Dr (156.3k sf), 2025 Research Pkwy (53.2k sf), and 2075 Research Pkwy (50.6k sf). At time of sale, the portfolio was approximately 63% leased to a diverse tenant base.
The buildings are elevated above Interstate 25 with prominent visibility, with mountain views and walkable access to numerous restaurant and retail amenities, including at The Promenade Shops at Briargate; an upscale outdoor lifestyle center. Located less than one mile from Interstate 25 and Briargate Pkwy interchange, the Briargate Portfolio provides tenants with quick connection to the extensive executive and employee housing on Colorado Springs’ north side, is ten minutes from Downtown Colorado Springs and only thirty minutes from Metro Denver.
Aaron Johnson and Jon D. Hendrickson with Cushman & Wakefield represented the seller in the transaction. Colorado Springs is the second largest city in Colorado, located just 30 minutes south of Metro Denver. The area’s population growth and growing economy is highly diversified across many industry sectors.
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