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7/28/23
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Altus Properties purchased a 97k sf, Class A industrial manufacturing/distribution building in Colorado Springs, CO. The price was not given out.
Located at 10205 Federal Drive, the single-tenant property is 100% leased and serves as the headquarters for ConcealFab Corporation (a wholly owned subsidiary of Valmont Industries Inc), which engineers and manufactures wireless infrastructure mounting and concealment solutions.
The property is located in the desirable northern Colorado Springs submarket with no like-kind competing product and is supported by a high-quality tenant on a long-term lease. 10205 Federal Drive was originally constructed in 1998 but underwent a significant capital improvement and repositioning program under prior ownership that resulted in the building being fully leased by the existing tenant.
Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller, a private partnership, in the sale of the building. Altus Properties is a St. Louis-based real estate investment and development firm with a portfolio of industrial, retail, multifamily and office assets located in St. Louis, Minneapolis, Denver and Colorado Springs.
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