Palmer Center | Colorado Springs

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 5 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 7.9% and average asking lease rates at $25.21 with Class A rents averaging $29.71 Full-Service Gross.

At 80.5% leased, Palmer Center is dislocated to its historical occupancy as well as the broader CBD market indicating an opportunity to capture valueadd 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.