• Year Built: 1874
6 North Tejon Street is an office property for lease in Colorado Springs, CO.
Located on perhaps the prime retail/office corner in the Colorado Springs' Central Business District (CBD), the Chase Building has been and continues to be a landmark in the Colorado Springs CBD Class Office market. The building added the west portion in 1953 and renovated and expanded, most recently, in 1988.
The buildings key points for investment potential are highlighted in five areas:
1. Landmark CBD building that will retain and appreciate in value over the years to come;
2. Below market rates compared to other CBD Class A buildings provide good upside potential;
3. Upside can be realized through the eventual recapture of actual operating expenses not currently being passed through to existing tenants;
4. Replacement value estimates for a prime CBD corner when considering current costs for new construction could range from $225-$250 per square foot including land value and standard Class A tenant improvements;
5. Due to it's landmark location in the prime retail section of Colorado Springs, the building will continue to attract both high quality retail tenants for the lower level as well as office tenants for upper stories.
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