3460 & 3485 Kimball Circle
Brightstar (BRSL) & Fortune 50 Tenant | 2.74 Acre IOS Site | Colorado Springs
Marketing description
Industrial Outdoor Storage (IOS) is one of the most supply-constrained and institutionally sought-after asset classes in commercial real estate. This offering pairs a fully-occupied, dock-served warehouse building with a 1.65-acre securely fenced IOS parcel, a combination that is exceptionally difficult to find, particularly with two credit tenants already in place and cash flowing from day one.
The property is 100% leased to two publicly traded corporations. 3460 Kimball Circle is leased to Brightstar Global Solutions Corporation (NYSE: BRSL), a global leader in lottery serving nearly 90 lottery customers and their players on six continents. Brightstar has approximately 6,000 employees and is the primary technology provider to 26 of the 46 lottery jurisdictions in the U.S. and eight of the world's 10 largest lotteries. 3485 Kimball (IOS) is leased to a Fortune 50, publicly traded company (tenant identity available upon execution of a Confidentiality Agreement). Both tenants represent exceptional credit and institutional-quality covenant strength.
Situated minutes from Interstate 25 and US Highway 24, the property provides direct and efficient access to the entire Colorado Front Range from Denver metro to Pueblo making it highly desirable for distribution, logistics, fleet parking, and last-mile operations. Direct I-25 access is available within minutes via the recently expanded South Academy Blvd, just a half mile from the property.
Investment highlights
- Rare IOS + Functional Industrial Asset: Industrial Outdoor Storage (IOS) is one of the most supply-constrained and institutionally sought-after asset classes in commercial real estate. This offering pairs a fully-occupied, dock-served warehouse building with a 1.65-acre securely fenced IOS parcel, a combination that is exceptionally difficult to find, particularly with two credit tenants already in place and cash flowing from day one.
- Dual Publicly Traded, Multi-National Tenants: The property is 100% leased to two publicly traded corporations. 3460 Kimball Circle is leased to Brightstar Global Solutions Corporation (NYSE: BRSL), a global leader in lottery serving nearly 90 lottery customers and their players on six continents. Brightstar has approximately 6,000 employees and is the primary technology provider to 26 of the 46 lottery jurisdictions in the US. and eight of the world's 10 largest lotteries. 3485 Kimball (IOS) is leased to a Fortune 50, publicly traded company (tenant identity available upon execution of a Confidentiality Agreement). Both tenants represent exceptional credit and institutional-quality covenant strength.
- Attractive 7.25% In-Place Cap Rate: The property is offered at an in-place 7.25% cap rate providing investors a compelling risk-adjusted return profile relative to comparable industrial assets.
- Minimal Landlord Obligations: Brightstar occupies the 9,636 SF building on a Triple-Net (NNN) lease, paying 100% of taxes, insurance, and CAM.
- Embedded Rent Growth: The Brightstar NNN lease includes a scheduled 3% rent escalation from $15.50/SF to $15.97/SF effective December 1, 2026, providing organic NOI growth and inflation protection built into the existing lease term.
- Strategic I-25 Corridor Location: Situated minutes from Interstate 25 and US Highway 24, the property provides direct and efficient access to the entire Colorado Front Range from Denver metro to Pueblo making it highly desirable for distribution, logistics, fleet parking, and last-mile operations. Direct I-25 access is available within minutes via the recently expanded South Academy Blvd, just a half mile from the property.
- $161 Million Infrastructure Investment Directly Surrounding the Property: The Military Access, Mobility & Safety Improvement Program (MAMSIP), a $161 million multi-component infrastructure initiative led by CDOT, El Paso County, the Pikes Peak Rural Transportation Authority, and backed by a federal BUILD grant is actively under construction in the immediate corridor surrounding the property. The centerpiece component widens South Academy Boulevard from two lanes to three lanes in each direction along the 1.5-mile stretch from the I-25 interchange to Milton E. Proby Parkway, with companion improvements along a 7.5-mile segment of I-25. Work began in summer 2023 and is nearing completion. Infrastructure investment of this scale directly enhances access, reduces congestion, and drives meaningful long-term appreciation in industrial and IOS land values along the corridor.
- Opportunity Zone + Enterprise Zone Designation: The property is located within both a designated Opportunity Zone and an Enterprise Zone. Opportunity Zone status enables qualifying investors to defer and potentially reduce capital gains tax obligations, while Enterprise Zone designations provide additional state-level business investment incentives — offering meaningful advantages for both investors and prospective tenants.
- Functional, Institutional-Grade Industrial Specifications: The 9,636 SF warehouse building features 18-foot clear height, two (2) 16'x14' drive-in doors, seven (7) dock-high doors, and a fully operational fire sprinkler system. These specifications appeal to a broad range of industrial users and ensure strong re-leasing velocity upon any future lease expiration.
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