Map pin90 S Cascade Ave, 2 N Cascade Ave, Colorado Springs, CO, 80903-1611, US

Palmer Center

Palmer Center_Propriété à vendre

Attributs

Classe du bâtiment
A
Superficie du bâtiment nette
42 689 mètres carrés
Places de parking
1 647
Nombre de bâtiments
3
WAULT
3.6 années
Occupation
78,2 %

Description de l'actif

Palmer Center represents the Best-in-Class office complex in Downtown Colorado Springs, a single digit vacancy Central Business District, and has served as the city’s premier office destination for tenants. The offering is a generational opportunity to own the top asset in a market that has a 92% return to-office metric and an expanding population base that is forecasted to outpace Denver by 2050. Palmer Center also is the only office asset in the Downtown market to offer on-site servicing retail and a dedicated covered parking garage (1,647 spaces offering a ratio of 3:1,000 SF).


Colorado Springs is a top 10 performing large city according to Milken Institute given its high-growth industries, such as aerospace, defense, cybersecurity, chip manufacturing, and tech.


Palmer Center's 459,500 SF anchors the Colorado Springs Central Business District, representing 9% of the total office space. This market is fundamentally strong with current vacancy at 8.2% and average asking lease rates at $26.88 with Class A rents averaging $33.23 Full-Service Gross. At 78.2% leased, Palmer Center is dislocated to its historical occupancy as well as the broader CBD market indicating an opportunity to capture value-add returns in a core asset.


Leasing demand comes from a wide range of industries. The city is anchored by five military installations in a state that boasts the 2nd largest space economy in the United States. Colorado Springs has and will continue to attract new companies and high performing talent.

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Points forts de l'investissement

  • Best-In-Class Office Complex in Colorado Springs
  • On-Site retail and full service hotel with Palmer Center complex
  • Sub 10% vacancy market
  • Colorado Springs leads the nation in return to work at 92%
  • Subterranean parking at a market leading 3 per 1,000 SF ratio
  • High growth residential market with 2,800 units delivered in the CBD since 2016
  • Thriving CBD with only 4% retail vacancy
  • Colorado Springs is among the highest rate markets with strong economic fundamentals
Palmer Center 4_Propriété à vendre
Palmer Center 4_Propriété à vendre
Palmer Center (0 Propriétés)

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Dernière mise à jour
16 mai 2024