Alturas Capital Partners Acquires Office Complex in Colorado

Alturas Capital Partners has added the North Creek Office Complex to the Alturas Real Estate Fund portfolio. This three-building office complex is 325,208 total square feet and is currently 87% leased. It is located on 16.61 acres of land at 5725, 5755, 5775 Mark Dabling Boulevard, Colorado Springs, CO.

North Creek is located adjacent to Interstate 25 and the South Rockrimmon Boulevard Interchange. This location allows the property to be both accessible and visible, with over 115,000 cars passing by the property each day. North Creek is also minutes away from University Village Shopping Center and Garden of the Gods Business Park.

Colorado Springs is the second largest city in Colorado and is experiencing a substantial amount of population and economic growth. The city grew 15.4% from 2010-2019 compared with the United States average of 6.5%. The U.S. News and World report placed Colorado Springs third overall in its “Best Places to Live in the U.S.” ranking and an increasing number of employees and businesses are gravitating toward this area.

Key tenants include: CSAA Insurance, FirstSource Group, PIMA Medical Institute, Econolite Group, GSA (DEA), PMC Sierra, and Wilson and Company.

Peter Scoville of Cushman and Wakefield/Colorado Springs Commercial represented Alturas Capital Partners in the sale and said, “The North Creek Complex is a core suburban asset in Colorado Springs with a phenomenal long-term location, exceptional access to I-25 and a campus setting that can accommodate both small and large office users alike. Alturas is the perfect owner for this asset with their hands-on, tenant-focused approach toward ownership, leasing, and management.”

We are excited to grow our portfolio in Colorado Springs. North Creek is a great asset in an excellent market with a diverse portfolio of high-quality tenants. We look forward to building great relationships with these valued clients for years to come. We are also grateful for the efforts of Peter and Greg of Cushman and Wakefield on this latest acquisition, it would not have been possible without their incredible market knowledge and expertise.

James Brady and Patrick Devereaux with CBRE represented the seller.