Woodmen Plaza Pads – Colorado Springs, Colorado
Private Money Loan Amount: $850K-Acquisition; $Various-Pad Loans
Loan Type: Land Acquisition and Development
Located along Woodmen Road in front of King Soopers at Lexington Drive and Rangewood Drive, this 10-acre parcel was subdivided into 10 pad sites, which now include two build-to-suit buildings (Blockbuster Video and Subway Sandwiches), McDonald's ground lease, a multi-tenant NNN retail building featuring Starbuck's, $1.89 Cleaners, Sports Clips, and Panda Express, and pad sales to US Bank, Big O Tires, Amoco, Key Bank, Wendy's, and Papa John's. Acquisition loan included land acquisition transaction, partial releases for pad sales, pad development.