In March 2019 we acquired 5.19 acres of developable land in Briargate, the fastest-growing submarket in Colorado Springs.
THE OPPORTUNITY
Our original plan for the land was to construct a new 60,000 square foot medical office building.
Colorado Springs economy is primarily based on the military installations as well as the aerospace and technology industries. As a center for space research, Colorado Springs was recently named a finalist for the newly created 5th branch of the military – the Space Force.
Additionally, El Paso County currently leads the state in population growth and is among the leaders in job creation fueled by the healthcare, technology, and defense sectors.
Low unemployment, high wage growth, and a favorable cost of living index are especially attractive to the millennial workforce. US News and World Report ranked Colorado Springs #3 on their 2019 “Best Places to Live” list.
THE RESULT
As a result of Covid disruptions, we began to explore alternative plans for the property
After facilitating a site rezoning, we sold the land parcel to a reputable multi-family developer
