SVN EQUITIES ACQUIRES 77,000-SQUARE-FOOT OFFICE/FLEX PROPERTY FOR $5 MILLIO

COLORADO SPRINGS, COLO. — SVN Equities has acquired Academy Point Service Center, a two-building, 77,000-square-foot office/flex property located at 1030 and 1050 S. Academy Dr. in Colorado Springs, for $5 million. At the time of acquisition, the property was 84 percent leased to tenants, including GSA, Lockheed Martin and BAE Systems. Kurt Holzkamp and Ed Bartlett of SVN Colorda LLC represented the buyer; Chris Bodnar, Geoff Baukol, Chad Brue and Ron Urgitus of CB Richard Ellis represented the seller, Illinois-based CMD Realty Investment Fund III LP, in the transaction.