MILE HIGH CRE - ‘Epic One’ Trophy Office Asset Trades in Colorado Springs
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- November 3, 2022
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An affiliate of Boston-based Albany Road Real Estate Partners has made its first Colorado acquisition, purchasing Epic One, a premier Class A office building totaling 146,099 square feet in Colorado Springs. The five-story multi-tenant asset was approximately 87% leased at the time of sale.
Located at 10807 New Allegiance Dr, Epic One is well positioned in the highly sought-after InterQuest Business Park in northern Colorado Springs. Constructed in 2009, it is one of Colorado Springs’ newest multi-tenant office buildings and features LEED Silver design. The building is elevated above Interstate 25 with prominent visibility to over 130,000 vehicles daily, and mountain views of Pikes Peak and the Front Range. Additional highlights include flexible, efficient floor plates, high-end finishes throughout, an on-site fitness facility, and 5/1000 parking ratio.
“We are pleased to introduce Epic One as our first acquisition in Colorado,” said Peter Albro, managing director of Albany Road’s Mountain States office located in Denver, Colorado. “The location is in a distinct path of growth, marked by extensive retail and housing developments in the immediate area, as well as Centura’s new InterQuest hospital campus scheduled to open in mid-2023. Furthermore, we believe that Epic One’s asset quality and functionality will continue to resonate with tenants in the market.”
Cushman & Wakefield’s Aaron Johnson and Jon Hendrickson represented the seller in the transaction.
“Epic One is a true trophy office asset and recognized as one of the highest quality multi-tenant office buildings in Colorado Springs. The property is well leased to a diverse tenant roster across many industry sectors including Aerospace & Defense, Healthcare and Technology, providing durable in-place cash flow with potential significant investor upside in a constrained Class A market,” said Aaron Johnson, managing director. “This premier asset is exceptionally located and has consistently performed at the top of the market, even defying the pandemic, attracting and retaining tenants over the last three years.”
Epic One is situated on approximately 9.4 acres at the intersection of Interstate 25 and Interquest Pkwy, providing a quick connection to the extensive executive and employee housing on Colorado Springs’ north side, and is ten minutes from downtown Colorado Springs and only thirty minutes from Metro Denver.
