Sale of Office Building Demonstrates Investor Demand in Colorado Springs

Cleveland-based Boyd Watterson Asset Management has acquired a 67,640-square-foot Class A multi-tenant office asset in Colorado Springs from Flywheel Capital for $11 million.

The property, located at 1670 Newport Rd, recently underwent interior renovations as well as significant improvement to select tenant spaces.

Senior Director John Fefley noted that, “Flywheel purchased the 1670 Newport Building as part of a two-building acquisition along with 3535 Northrop Grumman Drive just over a year ago and was able to add value to the 1670 Newport building by updating common areas and exterior landscaping along with renewing two of the larger tenants within the building.”