Local investment group Dormie Capital Partners has purchased a three-story, 40,084-square-foot office building on 5825 Delmonico Drive in Colorado Springs for $ 4.65 million.
Newmark managing director Brian Wagner and director Mark O’Donnell Jr. represented the owner / user of the USA Triathlon of Colorado in the sale. This is the sixth transaction the Newmark team has completed for the USA Triathlon of Colorado since 2004.
Dormie plans to upgrade the building’s public areas and add amenities to serve the tenant list, which will include the USA Triathlon of Colorado.
“5825 Delmonico Drive was an incredibly unique transaction that went public for the first time in nearly two decades,” said Wagner. “The seller has decided to dispose of the asset as it continues to focus on its growth, the growth of the sport and the continued support of its athletes and members.”
5825 Delmonico Drive is a well-maintained complex in a prominent location in Rockrimmon and I-25 with excellent views of Pikes Peak to the west and Pulpit Rock to the east, as well as flexible and modern office floor plans.
Colorado Springs is home to more than 250 aerospace and defense companies and major national defense commandos. These companies attract highly skilled workers. In addition, the US Olympic Committee is headquartered in Colorado Springs and has the largest of three official Olympic training centers in the country. The sports industry generates $ 400 million annually. The Colorado Springs real estate market is one of the hottest in the country. According to Newmark Research, the number of residential property transactions increased 4.2% year over year.