Tenant Improvement: North Creek
Written by Bennett Williamson | March 16, 2023
North Creek is a three-building office property located just off I-25 in Colorado Springs, Colorado. The property, North Creek II, at 5755 Mark Dabling Blvd, Colorado Springs, CO was recently renovated. Tenants of this property include GSA tenants, training facilities and home health oriented companies —PIMA Medical Institute, Angels of Care CNA Academy, and Amazing Care. Other tenants include call centers, First Source, and AAA. The property has a range of engineering firms —Wilson and Company, STV Incorporated, Stantec Consulting, and Farnsworth Group —as well as financial planning firms —Bauer Wealth, Ameriprise, and First Tech Federal Credit Union/Addison Avenue. Tech companies including Econolite and Deephaven Data Labs also are tenants at the property, as well as Celebrity Home Loans.
The building was constructed in the 1980’s and has had minor renovations since then. In order to create a positive environment for tenants, Alturas wanted to refresh the outdated aesthetic and make some functionality updates. Areas of focus were the lobby, bathrooms, cafe area and gym. Alturas Capital Partners also updated a vacant suite as a spec suite, for ease of leasability.
Because these changes were mostly aesthetic, Alturas Capital Partners worked closely with a designer, Dara Maddingly of Interiorz Group, who created a vision for what the space would be. The design was implemented by general contractor, Bryan Construction. The project started in late 2021. Due to supply chain challenges, materials were severely delayed. Manufacturers often shipped faulty or incorrect materials, resulting in additional delays. The property management team, design team, and construction team had to work together to overcome these roadblocks and complete the project.
One example of this project’s roadblocks includes the lobby tile. Pre-construction, all tile had been selected. During construction, tile was ordered, and the team was provided with an estimated ship date of March. As March rolled around, the team was told that the tile would not be shipping until June. Dara worked hard to try and select another tile, only to have that tile come up delayed as well. In the end, we went back to the original tile. After months of waiting for the tile to arrive, 10% of it arrived broken. The team had to wait patiently an additional three months for the remaining tile to arrive. Despite this challenge and other similar challenges, the project was completed in February of 2023.
The result of this project is an unrecognizable new space. With a brand-new gym, micro market, renovated bathrooms, redesigned lobby area and spec suite. The renovations have been so extensive that a vendor who had frequented the building prior to the start of the renovation thought she was in the wrong building when she stopped by after it had been completed. Many of the tenants have had positive feedback about the improvements.
North Creek recently had their grand reopening where tenants were invited to check out the new spaces and get food and drinks. Prior to the remodel the space was outdated and in need of a refresh. It is now an area where all the tenants of North Creek can congregate and utilize the utilities offered