COLORADO SPRINGS, CO-Noddle Development Co., headquartered in Omaha, NE,bought the 131,000-sf Southgate Shopping Center in this city 60 miles south of Denver. The center sits at a key intersection of Nevada Avenue and Southgate Road.

The price Noddle paid to the owner, a national real estate investment trust, was not revealed.

Noddle plans to completely renovate and re-tenant the property. It currently is anchored by a 24-Hour Fitness center.

Southgate is adjacent to a shopping center that includes a Home Depot, Sears, Borders Books, Bed Bath & Beyond, PetsMart and Ross Dress for Less.

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