The buyer was Red Rock Springs LLC. "Red Rock was comprised of investors from the Bay area and Las Vegas," Steve Engel, president of Griffis/Blessing, tells GlobeSt.com. Griffis/Blessing created a company called Citadel Terrace Group LLC to buy it in 2001, he says.

Griffis/Blessing paid $9.1 million for it and then spent a substantial sum on a renovation and lease up. "It was probably around 90% leased when we bought it, but we had a tenant who was taking 15% or 16% of the building when we bought it who was likely to leave," Engel tells GlobeSt.com. "So I would not describe it as a full building."

However, it was 100% leased when they sold it. Lockheed Martin, the giant aerospace and defense contractor, is the main tenant taking about 70% of the space. It also has a number of dental practices, he says.

"Our plan was to buy the building, do a renovation and lease it up," Engel tells GlobeSt.com "We met our plan dead on." He says the sale is a "good-sized one for Colorado Springs."

"There are not that many office sales north of $10 million down here. Colorado Springs does not have that many 100,000-sf office buildings, so you don't see that many deals in this price range."