Crescent Real Estate Divests of 1 MSF Office Portfolio in Colorado Springs for $180M

by Amy Works

COLORADO SPRINGS, COLO. — Crescent Real Estate has completed the disposition of a Class A office portfolio totaling 1 million square feet in Colorado Springs.

The 13-building asset was sold as a mix of individual buildings and micro-portfolios to multiple buyers during the past four years for an aggregate price of $180 million.

Aaron Johnson and Jon Hendrickson of Cushman & Wakefield represented the seller in the disposition of the entire portfolio.

Crescent Real Estate originally acquired the portfolio of mid-rise and single-story office buildings in 2018 for $125 million. Crescent began divesting of the assets in 2019 through 2022.

The portfolio includes:

  • Epic One, a 145,694-square-foot building at 10807 New Allegiance Drive
  • InterQuest I, a 74,005-square-foot facility at 9945 Federal Drive
  • InterQuest II, a 54,057-square-foot building at 9925 Federal Drive
  • InterQuest III, a 66,223-square-foot building at 9950 Federal Drive
  • InterQuest IV, a 46,948-square-foot property at 9960 Federal Drive
  • Patriot Park I, a 103,183-square-foot facility at 985 Space Center Drive
  • Patriot Park II, a 33,190-square-foot building at 980 Technology Court
  • Patriot Park V, a 51,770-square-foot property at 745 Space Center Drive
  • Patriot Park VI, a 103,970-square-foot asset at 655 Space Center Drive
  • Patriot Park VII, an 89,624-square-foot facility at 565 Space Center Drive
  • 1055 Newport, a 59,763-square-foot building at 1055 N. Newport Road
  • Newport Centre One, a 67,640-square-foot property at 1670 N. Newport Road
  • Northrop Grumman, a 124,305-square-foot asset at 3535 Northrop Grumman Point

All properties feature access to major north/south thoroughfares, including Interstate 25 and other state highways.

You may also like