San Diego-based 1031 Exchange Investor Buys Peterson Square In Colorado Springs For $5.5M

The property involved in the transaction is located at 6809 Space Village Ave in Colorado Springs. The asset known as Peterson Square consists of 14,182 square feet of fully occupied retail space. The sale price for this property was $5,500,000.00.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,500,000.00
• Seller's Representative: Parks Brown (Stream Realty Partners)
• Buyer: Undisclosed 1031 Exchange Investor

Parks Brown, along with Matthew Henrichs and Brad Lyons from CBRE's National Retail Partners, represented the sellers in the deal. The undisclosed buyer in this transaction was an investor participating in a 1031 exchange, which refers to a method in real estate investing that allows capital gains taxes to be deferred.