Q2 2012 Colorado Springs, Colorado Office Property Sales Analysis

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Q2 2012 Colorado Springs, Colorado Office Property Sales Analysis


Investment in office properties remains slow. Only two transactions meeting Reis’ criteria, one per quarter, were completed during the first half of 2012 for a combined total of only $7.0 million. The average selling price was $42 psf. The 12-month mean rolling cap rate per quarter-end was 8.5%, down from 8.6% a year prior. In the second quarter’s sole transaction, Tech Center Building LLC paid 5550 Tech Center Drive LLC $3.2 million ($51 psf) in April for the 63,180-square-foot Colorado Springs Tech Center multi-tenant office property. The Class B/C building was built in 1982.