Every quarter CRE professionals have the opportunity to submit their closed sale and lease transactions to be considered toward the Quarterly Power Broker Award. CoStar then verifies and analyzes thousands of deals submitted to identify winners in each market. Recognized as the premiere industry award, brokers have the opportunity to obtain this recognition which places them among the industry’s elite. In Quarter 1 of 2022, six Olive brokers were recognized by CoStar for completing the TOP deals in the Colorado Springs market.
TOP OFFICE LEASE:
2424 GARDEN OF THE GODS ROAD, COLORADO SPRINGS, CO
Space Leased: 14,545 SF
Deal Type: New Lease
Property Size: 752,493 SF
Tenant: All Native Shared Services Company
Brokers Involved: Brad Bird of Millennium Commercial Real Estate represented the landlord. Alex Dumas and Jim DiBiase of Olive Real Estate Group represented the tenant.
Deal Commentary: All Native Shared Services Company, part of the All Native Group family of companies, leased 14,545 square feet of office space in Garden of the Gods Campus in Colorado Springs. The Garden of The Gods Campus features five floors of Class A office space. The building was constructed in 1983 and was last renovated in 2018. All Native Group is a network of small businesses supporting the critical missions of various U.S. government customers. The firm’s capabilities include information technology, telecommunications, health, logistics, specialized training and other professional services.
TOP INDUSTRIAL LEASE:
4240-4242 N NEVADA AVENUE, COLORADO SPRINGS, CO
Space Leased: 26,482 SF
Deal Type: New Lease
Property Size: 35,394 SF
Tenant: Distillery 291 Colorado Whiskey
Brokers Involved: Mike Scruggs and Jeremy Shirley of Olive Real Estate Group represented the landlord. Gary Feffer of Fountain Colony represented the tenant.
Deal Commentary: Distillery 291, an award-winning, small-batch whiskey distillery located in Colorado Springs, has found its new home. The company has signed a new lease covering 26,482 square feet in Colorado Springs. 291 Colorado Whiskey has earned bushels of national and international awards for its spirits with the unique character and flavor of a bygone era.
TOP INDUSTRIAL LEASE:
870 ELKTON DRIVE, COLORADO SPRINGS, CO
Space Leased: 15,000 SF
Deal Type: Renewal
Property Size: 30,000 SF
Tenant: Crossville Studios
Brokers Involved: Charley Conrad of Olive Real Estate Group represented both sides of the deal.
Deal Commentary: Crossville Studios, a mainstay within the tile and countertops industry in Colorado, has renewed its lease at 870 Elkton Drive in Colorado Springs. The company has 26 locations nationwide and accommodates commercial and residential clients. It offers project orders, commercial applications, experts on call within showrooms as well as installation and technical support to their clients. Crossville has renewed its lease for an additional five years.
TOP RETAIL LEASE:
995 W GARDEN OF THE GODS ROAD, COLORADO SPRINGS, CO
Space Leased: 10,717 SF
Deal Type: New Lease
Property Size: 14,290 SF
Tenant: Interiors Exteriors
Brokers Involved: Jeremy Shirley, Mike Scruggs and Alex Winsor of Olive Real Estate Group represented the landlord.
Deal Commentary: Interiors Exteriors, a locally owned and operated floor and window covering provider, plans to relocate its showroom to 10,717 square feet of space in Garden of the Gods Plaza in Colorado Springs. Interiors Exteriors has more than 30 years of experience in the flooring and window industry and offers in-home professional measuring and installation of all their products.
TOP SALE:
PORTFOLIO OF 6 PROPERTIES:
1115 ELKTON DRIVE & 967-1069 ELKTON DRIVE, COLORADO SPRINGS, CO
Sale Price: $23,450,000
Sale Date: January 10, 2022
Property Size: 171,793 SF
Buyer: SunCap Real Estate Investments, Fort Lauderdale, FL
Seller: Benson-Price Commercial, Colorado Springs, CO
Brokers Involved: Mike Scruggs, Jeremy Shirley, Alex Dumas and James Justus of Olive Real Estate Group represented the seller. Jeremy Shirley and Mike Scruggs of Olive Real Estate Group represented the buyer.
Deal Commentary: Colorado Springs based Benson Price Commercial Inc. sold the Garden of the Gods industrial park and Aspen Gardens office building to SunCap Real Estate Investments as part of a multi-property sale. The El Paso County property was built in 1983. SunCap Real Estate Investments has closed over $2 billion of acquisitions, including building a $500 million publicly traded international real estate fund from 1996 through its disposition in 2010. Olive Real Estate Group will continue to manage and lease the properties for the new owner.