Colorado Springs Real Estate Briefs: June 20, 2008

With the Hollywood Theater grand opening behind them, Interquest Marketplace partners Nor'Wood Development and Classic Cos. have closed on the $2.17 million sale of a 5.3-acre parcel planned to accommodate a 49,500-square-foot-plus Brunswick Zone XL entertainment center.

Mike Dolski, vice president of strategic development for Brunswick Zone, said the new family entertainment center will include 38 bowling lanes, a billiards area, an arcade, laser tag, a game redemption store for gifts and a full-service kitchen.

Total investment is expected to exceed $10 million. The company operates a similar bowling and entertainment venue in Lone Tree.

Rich Kelly of Grubb & Ellis Quantum Commercial represented Brunswick, which paid about $9.37 per square foot for the property.

"That was pretty much in keeping with what Sunshine Development (developer of Colorado Crossing) just paid for a similar tract at the southwest corner of Interquest and Highway 83," he said. "Compared to North Powers, where they're getting $12 or $15 per square foot, I'd say it was a reasonable price."

The building should be completed in 2009 Dolski said.

Shayne & Gasper law offices relocates

Shayne & Gasper LLC has expanded and will relocate to 128 S. Tejon St. in the Old Alamo Building.

The lawyers will occupy 4,487 square feet.

Cascade Commercial Group represented the new tenant, and Mark O'Donnell of Sierra Commercial Real Estate represented the landlord, Matterhorn Development LLC of San Diego.

Cheyenne Blvd. multifamily property sold

Cheyenne Arms LLC has purchased Cheyenne Arms Apartments for $3.05 million.

The 51-unit building at 700 W. Cheyenne Blvd. was built during the 1950s.

Sperry Van Ness/Doug Carter LLC represented the buyer and the seller, the Clamp Family Partnership.

Pediatricians move north

Iron Horse Pediatrics has added additional physicians and will open a north office during October.

Cascade Commercial Real Estate represented the landlord, Research Two LLC, and the tenant on a 3,104-square-foot office lease at 8580 Scarborough Blvd. The pediatric doctors will joins a family medicine practice, an obstetrics and gynecology group, a pharmacy and a physical therapy practice in Research Building II.

West Colorado building sold

Westside Tattoo LLC has purchased a 7,200-square-foot building at 2031 W. Colorado Ave. for $430,000.

The owner had previously been a tenant at the same location.

Both the seller, Patrick Digiovanni, and the buyer were represented by Rich Kelly and Brad Brackel of Grubb & Ellis Quantum Commercial Group.

Dancewear co. buys Northpark building

Liberts, a wholesale dancewear, shoe and clothing distributor, has purchased a 23,296-square-foot building at 4940 Northpark Drive for $1.33 million.

The company carries products from manufacturers such as Capezio, Bloch, Danskin, Bodywrappers and Soffe.

Dick Rackley of Kent Properties represented the seller, Powell Products, and John Rodgers of Peak Commercial Properties represented the buyer.

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