O’Neil continues downtown quest with 2nd building purchase

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O'Neil buys Center City PlazaThe O’Neil Group purchased the Center City Plaza building at 455 E. Pikes Peak Ave. earlier this month.

The O’Neil Group, owned by Kevin O’Neil, also owns Braxton Technology and bought the former Chase Bank building at 6 S. Tejon St. in 2011.

O’Neil was a principal in the purchase and was the broker representing Center City Holdings, LLC, the company that now owns the prime office building at the corner of Pikes Peak Avenue and Colorado Boulevard.

“We plan to fill it up with the new companies we’re buying,” O’Neil said.

The O’Neil Group is positioned to buy other businesses, particularly in the defense contracting field.

Center City is already about 88 percent occupied. O’Neil said he hopes not to displace any of the current tenants and there are no immediate plans to move anyone in to the empty space.

O'Neil

O’Neil

“We wanted it to start with because it’s probably one of the finest buildings now in the downtown area with no deferred maintenance and an underground parking garage,” O’Neil said.

He said the building purchase is part of the O’Neil Group’s greater strategy to invest in downtown real estate.

The building is 37,000 square feet and the LLC paid $5.05 million for it.