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Retail Investment Center Sells for $5,300,000; Adaptive Reuse Project in Colorado Springs

Posted by Unique News Team on September 14, 2017
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Colorado Springs, CO (September 14, 2017) — Greystone Unique Apartment Group, the multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered the sale of Lincoln Center, a 17 tenant retail center asset, located at 2727 North Cascade Avenue in Colorado Springs, CO. The Property sold above listing price at $5,300,000 or $139.96 per square foot. Lincoln Center closed on September 12, 2017 and Greystone Unique Apartment Group represented the buyer.

 

The 37,867 square foot retail center was built in 1948 and extensively renovated in 2016. Once an elementary school, Lincoln Center was re-purposed into a retail center. Currently a blend of tenants occupy the space including restaurants, coffee shops, gym, brewery and more. Ideally located just north of downtown Colorado Springs, the Property is only a few blocks from Centura Penrose-St. Francis Hospital and situated between the two major colleges in Colorado Springs. The buyer sold their multifamily property to exchange into a multi-tenant retail center in the growing Colorado Springs submarket.

 

To schedule an interview with an advisor regarding this transaction or for more information about Greystone Unique Apartment Group, please contact: Niklas MacCarter at nmaccarter@uniqueprop.com or 303.645.4785. Visit the Unique Properties retail brokerage page for more information regarding their services.

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