Newmark (“Newmark”) has announced the sale of 5385 Mark Dabling Boulevard in Colorado Springs. The two-story, 100% occupied, 30,759-square-foot office building was sold by Second Wind Enterprises, LLC for $4.875 million, or $158.49 per square foot to Killin Land Company, LLLP. Newmark’s Kent Mau and Brian Wagner represented Second Wind Enterprises, LLC on the transaction.
“This involved two family investment partnerships, a unique building located in the popular I-25 corridor, offering easy access and great visibility, and a 1031 tax exchange,” commented Newmark Executive Managing Director Kent Mau. “Fully leased to Viking Enterprise Solutions, 5385 Mark Dabling Boulevard was a solid investment for the family partnership that held the single-tenant office building for more than 25 years.”
The tenant at 5385 Mark Dabling Boulevard, Viking Enterprise Solutions (“VES”), designs, manufactures, and sells leading edge off-the-shelf and customized server and storage platforms for datacenters and enterprise markets. VES is a division of Sanmina Corporation (Nasdaq: SANM), a $7 billion global leader in providing integrated manufacturing solutions.
“VES has grown into it’s space at 5385 Mark Dabling Boulevard over the last 15 years, investing in the asset to build out customized lab infrastructure for the company,” added Newmark Managing Director Brian Wagner, who worked with Mau on marketing the office asset and subsequent sale transaction.
The purchaser, Killin Land Company, LLLP, plans to hold on to 5385 Mark Dabling Boulevard. The family-owned partnership has holdings in Colorado and Wyoming. Lee Donald Groom and Cheryl Stafford with Corporate Real Estate Advisors represented Killin Land Company, LLLP in the transaction.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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