Alloy Real Estate Buys Colorado Springs Asset
The office building was 97 percent leased at the time of sale.
Ogilvie Properties Inc. has sold Tech Center VI, a mid-rise office building in Colorado Springs, Colo., to Alloy Real Estate Capital LLC for $17.3 million. Cushman & Wakefield arranged the deal and represented the seller in the transaction.
The 104,702-square-foot property had been under Ogilvie Properties’ ownership since 2019, when the company acquired it from Pace Properties for $12.1 million, according to CommercialEdge data.
Executive Director Aaron Johnson, Managing Director Jon Hendrickson and Senior Associate Mitch Veremeychik from Cushman & Wakefield worked on behalf of the seller.
A closer look at Tech Center VI
Completed in 1985, Tech Center VI is a three-story office building situated on a 7-acre site at 5575 Tech Center Drive. While under the former ownership, the property underwent upgrades, which included a renovated lobby, restrooms and spec suites. The roster currently features 17 tenants, among which Workplace Resource, Benefit Dynamics Co., Engineering Systems Inc., Allied Universal and Moneywell. Most of the tenants are in the aerospace & defense government contractor industries. The property was 97 percent leased at the time of the sale.
Tech Center VI is less than 7 miles north of downtown Colorado Springs, near Interstate 25. Denver is some 60 miles north.
Denver’s office market saw a slowdown in development activity, with 680,961 square feet of office space under construction across seven properties as of November 2024. Even though office deals in the city dropped by 31.3 percent year-over-year, Denver outperformed San Francisco and ranked among the top U.S. markets for investment activity, a recent CommercialEdge report shows.
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