Colorado Springs, Colorado -
TOWN & COUNTRY is a 40-acre site developed for a 243,000 SqFt research and development business park as well as for the first Target store in Colorado Springs.
Over 243,000 net rentable square feet
Historical occupancy averages 95% with AAA national tenants.
A remarkable 4.8 parking spaces per 1,000 square feet of rentable space for a total of 989 parking spots.
Existing tenant finishes can support the requirements of the most sophisticated users; it contains SKIF and TEMPEST rooms, which provide the highest security against intrusive surveillance.
Located in the geographic center of Colorado Springs, Town & Country Commercial Center has served the country's largest and most prestigious tenants: Allied Signal, ITT, Martin Marietta, McDonnell-Douglas, Pinnacle Micro, and the US Air Force to name just a few who have made this premier business park home.
Limited partnerships with The Schuck Corp., as general partner, originally developed, leased and managed the four-phase project. Initial occupancy began in January 1983 with the final phase completed in March 1985.
Historically, Town & Country has averaged nearly a 95% occupancy rate with AAA national tenants paying rents that earn Schuck a comfortable margin of profit. Schuck's accomplishments with the project are even more impressive considering they were achieved during a severely depressed local economy when Colorado Springs was labeled the foreclosure capital of the United States.
More than 98% of Town & Country is finished as office/R&D and with the project substantially leased, it remains highly successful.
It's well known that Town & Country lost tenants during the end of the market's downturn because Schuck Communities did not enter the discount bidding wars of the last few years. On the other hand, the property has achieved almost total occupancy at today's more attractive rates. This is a testament to Schuck's anticipation of today's strong market recovery.
Once again, Schuck's solid business skills and decision-making abilities have turned an economic challenge into a positive opportunity for equity growth.
The project is located on East Bijou Street between Murray and Academy Boulevards--central to all parts of the city.
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