CMD Realty Investors, LP sold the two properties, which total200,000 sf. Michael Palmer of NAI Highland Commercial representedboth parties. Palmer was awarded the leasing assignment for bothproperties and Sierra Commercial Real Estate, Inc. will provideproperty management services.

Both Tech Center I and Pikes Peak meet Equus' investmentcriteria--value-added assets in good locations priced at a discountto replacement cost, and in need of repositioning, leasing andcapital improvements. "We expect the improving economy will lead toincreased leasing activity and continued positive net absorption inColorado Springs." says Jeff Schindler, chief investment officer ofEquus. "We are confident that both properties will be stabilized inthe near future through capital improvements, aggressive leasingand creative management."

The four other office buildings in the Tech Center business parkare more than 85% leased. Executives at Equus say they are bullishon recovery prospects in the Colorado Springs office market. Sobullish that the company plans to acquire up to one million sf ofoffice and industrial property.