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TWO CLASS A OFFICE BUILDINGS 10.89 ACRES ADJOINS PETERSON AFB COLORADO SPRINGS, CO
OFFERING PRICE: 25,000,0000Buildings:A business campus consisting of a three-story,
91,088-sf office building & a single-story, 30,800-sf office property
situated on a 10.89-acre site. These Class A structures, completed
in April of 2006 by Lauth, contain a number of above average
construction features including fitness center, employee cafeteria
and polished granite floors.
Tenant:Headquartered in Reston, VA and publicly traded since
2002, SI is an information technology services provider to both the
private and public sectors, focusing on software development,
systems engineering & consulting, information security learning
solutions, and network solutions.
Strategically Located:Situated 67 miles South of Denver, with a
population of 370,000, Colorado Springs is the major commercial
hub and largest city in SE Colorado. The City’s diversified economic
base and strong employment growth is attributed to the presence
of nationally recognized firms such as Hewlett-Packard, Boeing,
Intel, Progressive Casualty Insurance, and Lockheed-Martin among
others. Colorado Springs is a magnet to the defense contracting
sector due to the presence of six military installations including
Petersen Air Force Base, the U.S. Air Force Academy, NORAD, and
the Dept. of Homeland Security.
Lease Term:10 years (matures May 30, 2016) with two, five-year
renewal options.
Lease Type: NN with Landlord responsible only for structural
repairs and replacement.
Annual Net Income:
$1,652,810 ($13.56-psf) with a CPI increase
scheduled for June 1, 2007. Annual CPI increases.
Purchase Price: $25,000,000
Financing:Available at 70% advance rate, interest only.Buildings: A business campus consisting of a three-story,
91,088-sf office building & a single-story, 30,800-sf office property
situated on a 10.89-acre site. These Class A structures, completed
in April of 2006 by Lauth, contain a number of above average
construction features including fitness center, employee cafeteria,
and polished granite floors. Approximately 20% of the NRA is
dedicated to assembly/warehouse space. On-site parking is available
for 536 vehicles (4.40:1,000). The improvements are located
within the larger Newport Business Park development, adjoining
the Colorado Springs Municipal Airport and Peterson Air Force
Base, in a commercial zone that is populated by many of the
nation’s largest defense & technology companies including Boeing,
Lockheed-Martin, Northrop Grumman, Titan, and Mitre.
Tenant: Headquartered in Reston, VA and publicly traded since
2002, SI is an information technology services provider to both the
private and public sectors, focusing on software development,
systems engineering & consulting, information security learning
solutions, and network solutions. The company serves the U.S.
government including the Dept. of Defense, the Air Force Space
Command, and the Dept. of State; commercial clients include
GEICO and Hewlett-Packard. Financial statements as of 9/30/06
reflect Total Assets and Net Worth of $376MM and $232MM,
respectively. Revenues and Net Income for FY 2005 were $398MM
and $17MM, respectively.
Strategic Location
Strategically Located: Situated 67 miles South of Denver, with a
population of 370,000, Colorado Springs is the major commercial
hub and largest city in SE Colorado. The City’s diversified economic
base and strong employment growth is attributed to the presence
of nationally recognized firms such as Hewlett-Packard, Boeing,
Intel, Progressive Casualty Insurance, and Lockheed-Martin among
others. Colorado Springs is a magnet to the defense contracting
sector due to the presence of six military installations including
Petersen Air Force Base, the U.S. Air Force Academy, NORAD, and
the Dept. of Homeland Security.
Lease Term: 10 years (matures May 30, 2016) with two, five-year
renewal options.
Lease Type: NN with Landlord responsible only for structural
repairs and replacement.
Annual Net Income: $1,652,810 ($13.56-psf) with a CPI increase
scheduled for June 1, 2007. Annual CPI increases.
Purchase Price: $25,000,000
Financing: Available at 70% advance rate, interest only.
Terms/Structure
Contact Phone Number: 702-882-8657
Contact E-mail address: jjarelldlgrealty@yahoo.com
Brokerage Name: DLG Realty & Investments
Submitted by: admin
Property ID Number: 88
Property ID Name: SI International Office B
Added: Tue May 13 2008
