Alloy Real Estate Capital has acquired Tech Center VI, a 104,702-square-foot midrise office building in the northern submarket of Colorado Springs. The property was sold by Ogilvie Properties for $17.25 million and is situated on nearly seven acres.
At the time of closing, the multi-tenant building at 5575 Tech Center Drive was 97% leased to 17 tenants primarily in the aerospace and defense government contractor industries. Despite challenges posed by the pandemic, almost all tenants have renewed their leases.
Ogilvie Properties invested in several upgrades and capital improvements to reposition the asset before its sale. These included a fully renovated lobby, restrooms, and spec suites throughout.
The seller was represented by Aaron Johnson, Jon Hendrickson,and Mitch Veremeychik from Cushman & Wakefield during this transaction.
Additionally,the property boasts an advantageous location just ten minutes from downtown Colorado Springs with easy access to Metro Denver as well as Colorado’s Front Range region.
Colorado Springs continues to be recognized among top sources for its rapid population growth rate and high quality of life rankings nationwide.
