Construction set to begin on city’s first Life Time

Filed under: real estate column |

Life Time Fitness plans to build a 210,000-square-foot facility in Colorado Springs that will be similar to this fitness center in Arizona.

The Pikes Peak region seems to be attracting its share of national fitness and health club chains.
Life Time Fitness has purchased 14 acres off North Powers Boulevard and Briargate Parkway, just south of Lowes and near Memorial Hospital North, for $4.8 million. The company plans to build 210,000-square-foot facility on the property.
Christian Gile of Cameron Butcher Commercial Real Estate represented Life Time Fitness. Michael McCormick of The Staubach Co. represented the seller, Hunt Properties of Dallas.
Completion is expected during the third or fourth quarter of 2009.
Life Time Fitness CEO Bahram Akradi and Michael Robinson, executive vice present and chief financial officer, are originally from Colorado Springs. The company has more than 70 locations in 16 states, including new clubs in Westminster and Parker.

DLR gets 2nd judicial project

DLR Group, a local architecture, engineering and design firm with offices in Colorado Springs and Denver, has been selected to design the Pueblo County Judicial Building. Initial steps such as interior space “programming” and finalizing the scope of the project are almost complete, said project manager Bill Valdez.
Construction will begin during the fourth quarter of 2009.
The project’s preliminary budget was set at $35 million, exclusive of civil engineering, landscaping and site development. The building’s design and final size — somewhere between 120,000 and 180,000 square feet — will be finalized next month.
DLR Group, in partnership with Anderson Mason Dale of Denver, also designed the $28 million Terry R. Harris Judicial Building in Colorado Springs.
Valdez said the company is in the process of determining how the Pueblo facility can address the daily demands of the justice system while ensuring the building will fit in with Pueblo’s historic downtown. Its contract with Pueblo County was approved for slightly more than $2.8 for design and engineering services.
Designed to LEED Silver specifications, including possible solar components, the judicial complex will be built on a 4.75-acre site on Elisabeth Street, between 4th and 6th streets, southwest of the existing courthouse.

Springs Business Park filled

Colorado Springs Early Colleges has leased an additional 7,000 square feet of office space at 4405 N. Chestnut St., within the Springs Business Park.
Steve Bach and Mike Helwege represented the tenant and the landlord, Springs Business Park Partners, L.P.
The expansion brings CSEC’s total space to about 19,000 square feet, Helwege said.
“We had 320 full-time kids last year — and expect 360 for the 2008-2009 school year,” said Keith King, school administrator. “We’ve had great partnership with Colorado Technical University — they utilize the facility in the evening, and we use it during the day. And almost half our kids were taking college courses by the second semester, either at CTU, Pikes Peak (Community College) or at UCCS.”
That expansion, along with Colorado Technical University’s continued 121,454-square-foot tenancy in the three-building Springs Business Park means the complex is 100-percent leased.
The owner has decided to list the property for sale at slightly more than $12 million, Helwege said.

New industrial tenant

Mobile Concepts has leased 1,000 square feet of industrial space at 3360 N. El Paso St.
Marcia Barton of Fidelity Real Estate represented the tenant and the owner, El Paso Partners LLC.

Star Academy’s new home

A 30,000-square-foot charter school will open its doors this August at 2508 Airport Road, in the former K-Mart Shopping Center.
Co-owner Mike Craddock said the school has been operating from several modular buildings on the site, but expects to take possession of the building for the 2008-09 school year. He also said that because the 104,000-square-foot center has been remodeled, inquiries for lease space are picking up.
“Now that we’ve repositioned it (Printer’s Park Market Center), activity has increased,” Craddock said. “It’s difficult for a lot of people to visualize a location until it’s done.”

New dental office

Colorado Laser Dentistry has leased 2,632 square feet of office space at 3468 Briargate Blvd.
Russell Stroud and Dale Stamp of Grubb & Ellis Quantum Commercial Group represented the landlord, K&R Properties LLP, and Scott Goldberg of Cirrus Tenant Lease Services represented the tenant.

Cordera, YMCA team up

In what is becoming an increasingly common approach in developer/recreation provider relationships, La Plata Communities Inc., developer of the latest Briargate community at Cordera, will partner with the YMCA of the Pikes Peak Region to bring a family recreation center to the community.
The YMCA will provide operational and facilities management support for the neighborhood’s 8,200-square-foot Cordera Community Center. The facility includes a 4,000-square-foot outdoor pool with kids’ splash zone, a fitness room, Internet café, Child Watch area, community meeting rooms and 5-acre “grand lawn.”
Becky Hurley covers real estate for the Colorado Springs Business Journal.