In the press

April | 2019

Echo Development To Break Ground on Briargate View

Chicago-based Echo Development is planning to bring a new medical office building to Colorado Springs.

The firm, which provides nationwide turnkey real estate development services, recently purchased 5.19 acres of land at 2460 Research Parkway for $1.45 million, where it is planning to build Briargate View Medical Building, an approximately 60,000-square-foot medical office building.

There aren’t a lot of ground sites and this was an infill piece that makes a great site for office or MOB,” said Ted Link of Cascade Commercial Group, who represented 2460 Research COS LLC in the sale of the land.

Link also is marketing the three-story building, which will feature spaces from 2,500 to 60,000 sf available for lease.

Situated at the northwest corner of Research and Chapel Hills Drive, Research Medical Plaza also features large, efficient floor plans, the opportunity for building signage, easy access to Penrose and Memorial hospitals, and a 5:1,000 parking ratio. It also is adjacent to the existing Colorado Center of Orthopaedic Excellence, 1 mile from Briargate Medical Campus, 2 miles from Memorial Hospital North and 3 ½ miles from St. Francis Medical Center.

Colarelli Construction is the general contractor for the building, which also could include a covered drop off.

Groundbreaking is anticipated for October with occupancy beginning in the third quarter of 2020. Echo Development is focusing on the Colorado marketplace, noted Echo’s Jon Boyajian, commenting that in addition to the Colorado Springs development, it also owns shopping centers and multitenant space along the Front Range.

However, it is turning its focus toward health care opportunities, he added. Echo Development also owns 100,000 sf of medical office space in Indianapolis.