Park Place Plaza

Park Place Plaza
 Value-Add Colorado Retail Opportunity

Irreplaceable Location - Park Place Plaza is located in a prime Colorado Springs retail node and capitalizes on traffic generated by larger surrounding anchored centers, including a Target and Safeway located directly across Union Blvd.

N. Academy Blvd is a main destination for goods and services in the northeast Colorado Springs retail market. Popular nearby anchors include Target, Safeway, King Soopers, Ross Dress for Less, and Tuesday Morning.

Prominent Signage & Visibility -  Park Place Plaza benefits from increased visibility due to a large monument sign located at the northwest corner of the parking lot, directly facing the high-traffic intersection of N. Academy Blvd (45,000+ vehicles per day) and N. Union Blvd (32,000+ vehicles per day). The center also offers two additional signage opportunities at the northeast and southwest edges of the property. The center offers two access points and ample parking at 4.65/1000.

Heavy Value Add Opportunity - 74.28% of the center expires in the first three years, presenting investors with substantial value add opportunity which could include potential repositioning and/or upgrading tenancy to improve credit and achieve desired rates. The Colorado Springs retail market boasts an impressive 5.3% vacancy rate, while North Colorado Springs demonstrates a vacancy rate of 5.9%.

THE OFFERING

Park Place Plaza is a 35,935-SF neighborhood retail center located at the intersection of Union and Academy Boulevard in Northeast Colorado Springs, Colorado. The shopping center is 89.36% leased to a stable mix of 13 tenants and features stunning mountain views, ample onsite parking, strong signage opportunities, and high visibility. The 35,935 SF retail center was built in 1978 and benefits from the high-volume traffic generated from its strategic location in a high-performance Colorado Springs retail node and directly across the street from national anchors Safeway and Target.