5002-5044 N Academy Blvd
Colorado Springs, CO 80918
Park Place Shopping Center · Retail Property For Sale

Blue West Capital is pleased to exclusively present the opportunity to acquire Park Place Plaza, a well-located, unanchored neighborhood retail center in Colorado Springs.
The property is positioned at the signalized southwest corner of North Academy Blvd and North Union Blvd, two of the city's primary retail corridors, with approximately 77,700 combined vehicles per day. The site benefits from strong visibility, direct access, and a trade area anchored by national retailers.
Park Place Plaza is 97% occupied and consists of 34,578 square feet of neighborhood retail space occupied by a diverse mix of local and regional service-oriented tenants, including medical, fitness, and personal service users. The property features a 4.1-year weighted average lease term (WALT), providing stable in-place cash flow, while the predominance of NNN leases with contractual annual rent increases supports continued organic NOI growth. Recent investments in the façade and parking lot have reduced near-term capital expenditure requirements.
Colorado Springs is one of the fastest-growing cities in the Mountain West and serves as a primary economic hub for Southern Colorado. Key industries include military, aerospace and defense, healthcare, and technology. Major employers include Fort Carson, Peterson Space Force Base, Schriever Space Force Base, and the United States Air Force Academy. Continued population and job growth, combined with a lower cost of living than Denver, support sustained retail demand and investment activity.