November 10, 2020, 4:00 PM
Flywheel Capital announces a new development, Peak Technology Campus, a 210,000-square-feet, Class A office project in Colorado Springs. This speculative development is delivering secure ready sites for the aerospace and defense industry and is the first significant speculative project to break ground in over 10 years in Colorado Springs. Newmark’s Executive Managing Director Kenton Mau, Managing Director Brian Wagner and Director Mark O’Donnell have been selected as exclusive leasing agents.
The property is located in Peak Innovation Park, the 900-acre master planned business park at the entrance to the Colorado Springs Airport. Peak Technology Campus will showcase four new single-story office buildings, featuring efficient full-floor and multi-tenant configurations, secure ready sites with dedicated entries, building signage, loading docks, 4.5 spaces per 1,000 square feet parking ratio, and secured satellite area. Building plans for the new development include 50,000 square feet at Building 1, 40,000 square feet at Building 2, 60,000 square feet at Building 3, and 60,000 square feet at Building 4.
“Peak Technology Campus is the first speculative office development in Colorado Springs in nearly a decade. The development of Peak Technology Campus addresses the market’s demand for dedicated and secure space in the technology and/or defense sectors during an opportune time of growth in the Colorado Springs market,” stated Newmark’s Wagner. “For employers looking to attract top talent–an educated and ambitious workforce–as well as the combination of amenities, access and residential offerings within minutes from a property, Peak Technology Campus delivers.”
The site is proximate to multi-modal transportation, situated at the entry to Colorado Springs Airport, with easy access to Peterson and Schriever Air Force Bases, and Interstate 25 via Milton E. Proby Parkway. Peak Innovation Park includes Northrop Grumman, Aerospace Corp. (under construction on a $100 million expansion) and Amazon (under construction on a 4 million-square-foot facility). Peak Technology Campus is located within the Colorado Springs Region Opportunity Zone, Pikes Peak Enterprise Zone and Commercial Aeronautical Zone (CAZ) which can provide companies with various tax incentives tied to overall employment levels and/or job creation. Building 1 will break ground in the first quarter of 2021 and is set to deliver in the third quarter of 2021.
According to Newmark Research, Peak Technology Campus represents the largest speculative office development in Colorado Springs since 2001.
About Flywheel Capital LLC
Flywheel Capital is a Denver, Colorado based, privately held commercial real estate investment company with a focus on creating value by sourcing and managing value add and stabilized asset across multiple property types. Flywheel’s strategic thesis lies in opportunistic or hidden-value assets that have long-term upside and that are well located with solid current cash flow. Flywheel’s primary focus is in the Denver Metropolitan Area and in Colorado’s Front Range. To Learn more, visit flywheelcap.com or on Flywheel’s LinkedIn.
About Newmark (Nasdaq: NMRK)
Newmark Group, Inc., together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements About Newmark
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