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Phoenix & Southwest  + Southwest  + Retail  | 
Colorado Springs Centerpointe Plaza Sells for $21.4 million

Colorado Springs Retail Center Goes for $21.4 Million

The 155,000 square-foot Centerpointe Plaza changed hands for $138 a square foot. The shopping center was sold by Kinetic Development, a Phoenix-based private fund. CBRE’s Parker Brown headed up the sales effort, “Centerpointe Plaza offered an irreplaceable location along Colorado Spring’s most heavily trafficked retail corridor…at roughly 85% leased, the center also offered a value-add opportunity through leasing up the remaining vacant spaces.”

Built in 1983, the center is comprised of five multi-tenant buildings on nearly 13 acres. The seller invested in a series of capital improvements leading up to the sale, including the parking lot, roof and concrete repairs as well as exterior improvements.

The mix of current tenants include Dollar Tree, Tuesday Morning, Key Bank and Boot Barn.

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Parker Brown

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition