<SUBHEAD>New medical office to serve western Springs residents</SUBHEAD>
The $3.1 million, 24,000-square-foot North Springs Family Medi-cal Center broke ground earlier this week at Centennial Boulevard and Claystone Street.
Drs. Jeffrey Kent and Dave Zbylski were on hand to turn a shovelful of dirt. The doctors were joined by developers Link Jackson and David Phillips of <B>CFMH LLC</B> and <B>Nexera</B>, the general contractors for the project.
The building was designed by <B>Barber and Associates</B> with interiors by Cindy Senger of <B>Senger Design Group</B>.
Kent, Zbylski and Dr. Tim Hoke will move their practice from medical office space near the Woodmen Chapel on Woodmen Road to the new facility. They currently have about 4,500 square feet and plan to double the size of their office space.
The entire second floor will be available for lease.
Were hoping the building will attract other medial specialties, said Kent.
The reason for the move is to make the practice more centrally located, Kent said. The practice is growing, the new offices offer an improved location, improved visibility and, he said, he believes the Westside is undeserved.
The offices will include x-ray and lab services for patient convenience, doctor efficiency and quality care, the doctors said.
We want to effectively deal with patients right when they come in, Kent said.
<SUBHEAD>LandCo springs for in-fill site</SUBHEAD>
<B>LandCo Investments LLC</B>, a new Colorado Springs-based company formed from other projects by Ray Marshall, paid $1.15 million for Spring Creek, a 170-acre development near Union Boulevard and the Martin Luther King bypass.
Phoenix-based <B>Del Webb Corp.</B> sold the in-fill site it has owned since 1984. Broker for the seller, Steve Bach, who is chief operating officer of <B>Bach Commercial Brokerage</B>, said that the property has remained for sale for so long because Del Webb was located out of state and had a difficult time responding to individual users. Instead, it wanted to make a bulk sale to a developer.
Marshall said LandCo will not have the same difficulties with the property, citing the fact that there is plenty of interest in the property already. LandCo closed on the property at the end of January, and has already received offers for a 35-acre site, a medical-office site, an office-warehouse site and a site for mini-storage. In addition, the partners in LandCo, in conjunction with additional partners, are developing an ice rink on the property.
Its the best-moving property Ive ever done, Marshall said.
Randy Case, president of LandCo, said there were several factors that had to come together for the property to mature into what it is now. One of those factors was the extension of Union Boulevard, which, along with the MLK bypass, Circle Drive, Monterey Drive and the Hancock Expressway, provides access to the property.
Case noted that the only competition for the property comes from another property owned by LandCo and from sites near the airport. But he believes Spring Creek has better access.
The land is a mixed-use development, zoned for residential, retail and commercial use. Marshall said most of the site has access to utilities.
He said that LandCo likes the mixed-use developments because they have a higher return on investment and because there is much less risk because you can essentially serve the entire market.
The company also likes the south end of town. Marshall explained that it is not after the high-profile, Class-A office space users that typically want to be north of the city. LandCo realizes that the south end of town has more access to affordable housing and to employees.
LandCo is also focusing on large business-campus projects. It now has three mixed-use campuses in the south end of Colorado Springs. One is a 485-acre site at the Fountain interchange off Interstate 25. It was purchased less than a year ago, Case said. A second campus is located at South Academy Boulevard and I-25, near the <B>Pikes Peak Community College</B>. It was purchased last year.
Case explained that the company likes to move quickly on the larger parcels. He said that because the company is primarily made up of Colorado Springs natives, that they know the area and know where and how to get information to do the due diligence quickly.
They know the town and know where to go to get things faster than other participants in the market, he said.
The company also has cash assets available so it doesnt have lenders looking over (its) shoulders on most transactions, Case said. The acquisition teams knowledge of local affairs also helps it to solve problems quickly for potential buyers.
As a buyer of the Spring Creek property, We were able to be at the table at the right time with the right dollars to get the deal done, Case said.
<SUBHEAD>La Plata moves</SUBHEAD>
<B>La Plata Investments LLC</B> moved into new headquarter offices in the PrimeCenter at the Briargate office complex at 2315 Briargate Parkway.
The move allows the developer of the Briargate master-planned community to be closer to its newest development, Pine Creek.
The move also allows the company to consolidate offices from the former information center on Briargate Parkway, the leased space in the Woodmen Office Campus on Campus Drive and a construction trailer near the site. The company expanded from about 8,700 square feet of combined space to 9,526 in the new leased space. La Plata signed a seven-year lease.
The new offices include a community relations room to provide information about the Briargate community to residents, local businesses, Realtors and other interested community groups.
Pine Creek is a development that will feature 1,200 single-family homes, 300 apartment units and 500 attached townhomes or multi-family dwellings upon its completion. It is a golf course community with home prices that begin in the $230s.
La Plata represented itself in the lease. <B>PrimeWest Development</B>, developer-owner of the PrimeCenter office complex, was represented by Michael Palmer and Lonnie Wagner with <B>NAI Highland Commercial Group LLC.</B>
<B>MarketScape Inc.</B>, a local high-tech company that develops compact discs from customers Web sites for fast-moving Internet users, has expanded its space in the Pikes Peak Research Park from 12,000 square feet to 29,360 square feet.
The company signed a five-year lease for the expanded space when it was almost at the end of its previous lease, said Greg Phaneuf, a broker with <B>Palmer McAllister, A Frederick Ross Co.</B> Phaneuf represented the buildings owner, Chicago-based <B>CMD Realty Inc.</B> About 20,000 square feet of the 84,888-square-foot office building remain available, which includes the 12,000 square feet recently vacated by MarketScape.
Frank Tuck with <B>NAI Highland Commercial Group LLC</B> represented MarketScape in the lease.
<SUBHEAD>RCIS Realtor of the year</SUBHEAD>
David Bacon, a broker with <B>Palmer McAllister, A Frederick Ross Co.</B>, was recently named Realtor of the Year by the <B>Realtors Commercial-Industrial Society</B>.
Bacon is an industrial specialist who has been with Palmer Mac since 1985.
He won the award based on three main performance criteria. The first is for production. In 1999, Bacon was involved in 16 transactions totaling more than 213,000 square feet with land sales of approximately 43 acres. Some of his major transaction included 50,000 square feet to <B>Kaman Instrumentation</B>; 75,000 square feet to <B>Krog
er/Dillon Foods</B>; 40,000 square feet to <B>Bindley Western</B>; five acres to <B>Harley Davidson</B> and 34 acres to <B>Elite Properties</B>. His transactions totaled $6.3 million.
The second criterion for the award was Bacons service to the RCIS. He has served on the board of directors for the past four years, working his way up to chairman. He said his favorite part about working on the board was working with the committee heads.
To me, thats where the strength of RCIS is, he said.
The 11 committees range from education to membership to social events. Bacon said the social events are important networking opportunities but they are also involved in representing the geographical diversity of the city and its commercial property. He said the committee has worked to marry the location with a topic that is pertinent to that area. For instance, when the society met downtown for lunch the speaker spoke about Confluence Park. He said education is also an important committee.
It is getting more and more critical every year because of the continuing education we need every year as brokers, he said.
Bacon is a candidate for the Certified Commercial Investment Member designation, considered to be equivalent to a masters of business administration for commercial real estate brokers.
The third criterion is community involvement. Bacon has served with the Business Climate Initiatives Group through the <B>Chamber of Commerce</B> for the past two years, which helps him stay in touch with the community. He also is an interviewer and panelist for the <B>University of Colorado</B> Presidents Leadership Class admissions process.
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