Value-Add Multi-Tenant Retail Center
Blue West Capital is pleased to exclusively present the opportunity to acquire Park Place Plaza, a well-located, unanchored neighborhood retail center in Colorado Springs. The property is positioned at the signalized southwest corner of North Academy Blvd and North Union Blvd, two of the city's primary retail corridors with approximately 77,700 combined vehicles per day. The site benefits from strong visibility, direct access, and a trade area anchored by national retailers.
Park Place Plaza is 84% occupied and totals 34,578 square feet, featuring a mix of local and regional service-oriented tenants, including medical, fitness, and personal services. Existing vacancy provides a clear value-add opportunity through lease-up, while in-place cash flow and a 3.4-year WALT offer near-term income stability with upside. The majority of leases are NNN with annual rent increases, supporting organic revenue growth. Recent facade and parking lot improvements limit near-term capital requirements and position the asset for continued leasing momentum.
Colorado Springs is one of the fastest-growing cities in the Mountain West and a primary economic hub for Southern Colorado. Key industries include military, aerospace and defense, healthcare, and technology. Major employers include Fort Carson, Peterson Space Force Base, Schriever Space Force Base, and the United States Air Force Academy. Continued population and job growth, combined with a lower cost of living than Denver, support sustained retail demand and investment activity.
