Colorado Springs Real Estate Briefs: April 6, 2006

Bethesda Real Estate Co. has purchased an 83,000-square-foot office building at 1155 Kelly Johnson Blvd. from Presidio DD LLC for just under $11.6 million.

Ted Link and Brian Norton of Cascade Commercial Real Estate represented the buyer. The seller was represented by Cushman Wakefield.

The four-story Class A office building opened in 1987 and was 92 percent leased at the time of the sale.

Builder renews stake in Cedar Heights

After two years of negotiations with the Schuck Corp. and members of the Cedar Heights homeowners' association, Larry Nichols and Claude Comito of the Nichols & Comito Group have purchased the 76 remaining lots in the west side foothills development.

The builder views the acquisition as a logical step in a process that began more than 20 years ago. Both Nichols and Comito have worked in the mountain side community. Nichols built his first Cedar Heights home in 1984, prior to partnering with Comito in the mid- 1990s. Both entered homes in the 1993 Cedar Heights Parade of Homes.

Construction company in high gear

Bryan Construction could be on target for a record year, according to owner and President Scott Bryan.

Not only has the contractor completed work on the $14 million 76th Space Wing addition at Peterson Air Force Base, but it also received a $7 million contract to build a medical clinic facility on base as a part of a group award.

Bryan Construction has provided retail and office site development for Continental Properties, developers of the Super Target center near Powers and Briargate boulevards.

Bryan said the company also is building an elementary school on Wolf Ranch for District 20.

Industrial transaction news

The American Flooring Co. has leased 3,000 square feet of showroom and warehouse space at 1120 Elkton Drive. The landlord, Elkton-Garden Park LLC, and the tenant were both represented by John Rodgers and Andrew Madden of Grubb & Ellis Quantum Commercial Group.

All Custom Apparel, LLC has leased 5,000 square feet of light industrial space at 5011 List Drive for its manufacturing and showroom operation. The company does screen printing for shirts and athletic wear. John Rodgers and Andrew Madden of Grubb & Ellis Quantum Commercial represented the tenant and Paul Engel of NAI Highland Commercial Group represented the landlord, Thomas Martin.

Western Hardscape Supply, a wholesale supplier of decorative concrete, has leased 5,000 square feet at 5065 Geiger Blvd. from FF Investments LLC. John Rodgers and Andrew Madden again handled both sides of the transaction.

Manufacturer Colorado Cabinet Coatings has leased 2,000 square feet at 3340 Adobe Court for its expanded operation. The Grubb & Ellis Quantum Commercial team of John Rodgers and Andrew Madden represented the tenant and John Onstott of NAI Highland Commercial Group represented the landlord, Calco Investments.

Mobility provider gets new location

MV Transportation has leased 1.93 acres at East Fillmore St. and El Paso St. for its Metro Mobility para-transit operation. Plans for the site include construction of a 6,000-square-foot building with adjacent secured yard to be used for van parking and maintenance facilities.

The Fairfield, Ca.-based $400 million company contracts with metropolitan areas throughout the country to provide para-transit services.

Aaron Hood and David Bacon of Sierra Commercial Real Estate represented the tenant in the transaction. John Rodgers and Andrew Madden of Grubb & Ellis Quantum Commercial represented the owner in the transaction.

The transportation provider had to move from its prior location at 17 Cimino Drive at the request of the Downtown Development Authority Horn said. The process included months of looking at prospective sites that would meet the City of Colorado Springs' criteria for a paved lot, electricity and lighting, access to a fiber optic source, fencing and room for parking large vehicles.

The property is owned and managed by Joy Focht and Darwin Faaborg of Proforma Land Development who will build a new building on the property specifically to Metro Mobility's requirements.

The building will accommodate 3000 square feet of office as well as service and wash bays. The facility will also allow parking of up to 70 handicapped-accessible buses.

John Calame, MV Transportation vice president sees the move as key for his company's future growth. "Not only is the Fillmore facility centrally located with great north-south and east-west access, it will allow us-to provide maintenance services to the city which is something we do not currently do."

Construction on the new site should be completed by September.

Copyright 2007 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.