Denver, CO – SVN | Denver Commercial is pleased to announce the sale of Pikes Plaza, located at 2202-2308 E Pikes Peak Avenue in Colorado Springs. This 72,740 sq. ft. Retail center was sold for $11,950,00 and closed on May 4, 2022.
As their exclusive listing agents, Troy Meyer and Kevin Matthews with SVN | Denver Commercial represented the Seller, Pikes Plaza, LLC. This value-add opportunity was purchased by an out-of-state investor group from the East Coast U.S., Pikes Plaza Holdings, LLC, represented by Snowline Company. Primary tenants in the center include – US Bank, IntelliTec College, and Social Security Administration.
“The sellers purchased this property in 1997. We did our first Broker Price Opinion on it back in 2007, with several updates over the last 15 years.” said Troy Meyer, “it was a pleasure helping the sellers achieve their goals. It’s so rewarding when a plan comes together, and it certainly did on this one. We had several competitive offers, and the successful purchaser did a great job of working within their timelines to close on their acquisition in less than 75 days. We were able to transact this within 5% of the asking price.”