Press Room

Corporate Pointe and Tech Center East & West Sold 9/18/2007

Mau and Tilton Represent Seller in One of the Largest Office Property Transactions in Colorado Springs' History.

Press Release

For Immediate Release

Date:               September 18, 2007

Contact:          Kent Mau / 719-955-2013

Mau Sells Office Property for $35,600,000

Colorado Springs, CO - Sierra Commercial Real Estate, Inc. has announced the sale of Corporate Pointe and Tech Center East and West in the Briargate Business Campus.  The 3-building complex is located in the North I-25 Corridor office market in Colorado Springs, Colorado, and comprises more than 210,600 square feet of office property.  Kent Mau of Sierra Commercial Real Estate, Inc. and Dave Tilton of Frederick Ross Company represented the Seller.  The property was purchased by a Luxembourg open-end collective investment fund.

Corporate Pointe is a Class-A, three-story, multi-tenant office building.  Major tenants include Kaiser Permanente, Pulte Homes, and RS Information Systems.  Tech Center East and West is comprised of two identical single-story office buildings, 100 percent leased, with high quality design and construction.

According to Mau, "The office market in Colorado Springs remains strong for quality projects, but investors have a hard time finding high caliber product due to the market being picked over in the last few years.  As a result, velocity in institutional sales will decline."