November 2017

Thomas Company Arranges Sale of Single Tenant Office and Manufacturing Property

Exterior view of the Spectranetics manufacturing property at twilight, featuring illuminated signage, landscaped gardens, and a clear sky.

Thomas Company recently led the negotiations and closing of an 82,737 square foot office and manufacturing property leased to Spectranetics, a subsidiary of Royal Philips (NYSE: PHG, S&P: BBB+). The property is located on approximately 10.9 acres in the prestigious InterQuest Business Park in Colorado Springs, Colorado. The property was sold free and clear of debt with a triple net lease in place offering two, five year extension options.

InterQuest Business Park is one of Colorado Springs’ most desirable office and retail locations with established corporate tenants like United HealthCare, Lockheed Martin, Walmart, Quantum Corporation and Cherwell Software. This 4-story Spectranetics asset acts as the company’s headquarters and primary manufacturing facility. Spectranetics has invested heavily in this property, including the addition of a brand new cafeteria with an outdoor seating area, a fitness center, elevator upgrades, and a lobby and basement remodel.

Spectranetics is a leading developer and manufacturer of single-use, cardiovascular medical devices. They were recently acquired by Royal Philips, a global leader in health technology with revenue exceeding EUR 24.5 billion.

In addition to this most recent transaction, Thomas Company has successfully executed more than $5.6 billion worth of single-tenant transactions, continuing to deliver superior results for our clients.