Industrial Property For Sale:
USOC FACILITY 4615 Foreign Trade Zone Blvd
 |
| Industrial Property For Sale: |
INDUSTRIAL FACILITY FOR SALE. This Class A industrial facility located in the southweast quadrant of El Paso County was previously utilized as the office & warehouse/distribution headquarters for the USOC. Strategically located close to the airport between Schriever Air Force Base and Peterson Air Force Base, it has excellent points of access via Powers Blvd & I-25.
Additional Details
Nearest MSA: Colorado Springs
County: El Paso
Tax ID Number/APN: 5503102001
Property Use Type: Net Leased Investment (NNN)
Zoning: PID
Site Description: CLASS A INDUSTRIAL INVESTMENT. U.S. OLYMPIC COMMITTEE FACILITY. 100% OCCUPIED BY THE USOC, 10 YEAR LEASE COMMENCING JULY 1, 1997, WITH AN ADDITIONAL 5-YEAR OPTION AT TERMINATION (JULY1 20012). EXISTING LOAN WITH A CURRENT BALANCE OF $4,676,314.52 AT 7.20% & MONTHLY PRINCIPAL & INTEREST PAYMENTS OF $40,007.32 IS ASSUMABLE W/QUALIFICATION & A 1%/TRANSFER FEE. $7,500,000 CASH
Year Built: 1986
Additional Details
Highlights
Class A - 85,176 Square Foot Industrial Facility- PID (Planned Industrial District)
- Reflective Glass Exterior
- 7,750 Square Feet of 2-Story Office Space
- 6.4 Acre Site with Additional 32.39 Acres Adjacent to Site
- Atrium Lobby - Skylights - Board Room - Lunch Room & More
Description
This Class A industrial facility located in the southeast quadrant of El Paso County was previously utilized as the office and warehouse/distribution headquarters for the United States Olympic Committee (USOC). Strategically located close to the Colorado Springs Municipal Airport between Schriever Air Force Base and Peterson Air Force Base, the facility has excellent points of access via Powers Blvd & I-25. 19.20 additional acres adjacent to the site also available for sale. Contact Frank Tuck for a full package.
Northeast corner of Foreign Trade Zone Boulevard and Aerospace Boulevard off of Bradley Road. Strategically located close to the Colorado Springs Municipal Airport between Schriever Air Force Base and Peterson Air Force Base. Excellent points of access via Powers Boulevard and Interstate 25.
USOC rental deals raise more questions/ Juggling office space adds to
by MERI-JO BORZILLERI
The U.S. Olympic Committee has spent $1.03 million since September 2001 to rent a nearly vacant warehouse southeast of the Colorado Springs airport.
The USOC will pay $61,000 a month until 2007 to rent the 87,000- square-foot building at 4615 Foreign Trade Zone Blvd. that once housed the committee's marketing department and fund-raising merchandise, USOC officials confirmed.
Despite the empty space south of town, former President Marty Mankamyer was given a five-office suite in a new building near Briargate Parkway in north Colorado Springs.
The USOC pays $5,000 per month in rent on the second floor office at 1880 Office Club Point, just off Explorer Drive, another USOC official said. The lease runs until late 2004. The front door of the office has the USOC logo and the words "Office of the President" etched in glass.
Officials at USOC headquarters on Boulder Street and Union Boulevard often point to cramped conditions there, but the glut of office space elsewhere raises more questions about USOC management of funds.
"What the (heck) are they doing? " Sen. Ben Nighthorse Campbell said of the warehouse. "It's a white elephant. . .. It sounds like somebody wasn't thinking that far ahead." The USOC is trying to sublet the expensive, unused office space. USOC Chief Financial Officer Early Reese said Mankamyer's office is close to being sublet, but there are few leads on renting the warehouse.
The vacant properties represent the fallout from the USOC's revolving door of leadership.
Mankamyer rented the five-room office soon after her election in August, intending it as a showcase for visiting sponsors and international Olympic delegations.
Her plan was to move the USOC's international relations department, including the director and two assistants, to the building. Mankamyer would have had an office for an assistant.
But Mankamyer resigned the presidency Feb. 4 after an ethics controversy involving Chief Executive Officer Lloyd Ward and ethics allegations facing Mankamyer.
Campbell said the USOC is not being deliberately wasteful as much as suffering from the changes of philosophy that come from having four CEOs and four presidents since 2000.
"Every time you have a new CEO, you have different direction, different goals," Campbell said. "When they leave, they leave the broken pieces around."
John Krimsky joined the USOC in 1986 and became famous in the organization for his cigars and the deals he struck with sponsors.
The USOC revenue budget was $97.3 million in 1984. By the 1992-96 quadrennial, it rose to $437 million.
Krimsky, who could not be reached for comment, moved the marketing department to the Foreign Trade Zone area near the Colorado Springs airport in the southeastern part of the city.
Companies were given tariff breaks if they moved to the Foreign Trade Zone, which is in a mostly vacant area. Krimsky, colleagues said, saw an opportunity.
One source with knowledge of USOC finances said the lease was signed in 1997. Current USOC officials, who requested anonymity, say the lease was signed in 1999.
Krimsky left the USOC in 1999.
At one point, the warehouse complex housed about 200 employees working for the USOC's marketing department, including a direct mail unit. Several national governing bodies had offices there.
Now only a maintenance worker and security officer make regular visits.
"At the time we had all those people out there, it was a good agreement," Reese said.
When the building was first rented, a longer lease made sense. It was less expensive per year, and the operation was a bustling one.
"Krimsky thought the whole nine yards was going to go on forever," a source said.
After Krimsky left in 1999 and Norm Blake became CEO in Feb. 2000, Blake moved the marketing department back to USOC headquarters, thinking that would be more efficient and make for better communication between departments.
CONTACT THE WRITER: 636-0259 or merijo@gazette.com
Copyright 2003
No comments:
Post a Comment