Vickers Plaza Retail Center – Colorado Springs, CO

Vickers Plaza Retail Center is a 20,342 square foot retail strip center located in Colorado Springs, CO. The property features nine in-line units and one out parcel anchor with many long-term tenants. Vickers Plaza is located in El Paso County within the Colorado Springs metro area. Colorado Springs is the second largest city in Colorado and is located about 50 miles south of Denver. This investment was purchased 70% occupied in April 2017 and sold in July of 2018. Over the course of the investment, VIG completely enhanced the exterior facade, recapped and striped the parking lot, installed an upgraded monument sign, replaced the roof, remodeled most of the suites, nearly doubled the rents on long-term leases and brought the property to 100% occupancy. We were able to achieve a 125% return on investment in only 14 months! We have since dispositioned this asset and it is no longer in our portfolio.