School Buys Lakewood Building Near CCU Campus

School Buys Lakewood Building Near CCU Campus

Source: Denver Post, 8/27/2021: Colorado Christian University purchased a three-story building down the road from its main campus in Lakewood, and it plans to move its headquarters and nursing school there. The private school paid $5 million in July for the 333 S. Allison Parkway building, which is 35,700 square feet. The deal works out to about $140 a square foot. “We at Colorado Christian University are excited about the opportunity to continue to invest in the city of Lakewood, where we have many faculty and staff that call this community home,” CCU Vice President Dan Cohrs told BusinessDen in an email. Fuller Real Estate broker Bob Pipkin, who represented the university along with colleague Jeff LaForte, said he had been looking for a property for about a year, and he said it’s “fortunate” the deal came together because the lease on the school’s existing headquarters was nearing its end. “It was really just kind of amazing and fortunate a building of that size that close to the campus came up,” Pipkin said. The building was sold by TZAP Management Services, which purchased it in September 2010 for $3.55 million, records show. Colorado Christian, founded in 1914, had 8,579 students as of September 2020, about 17 percent of whom were considered “traditional undergraduates.” CCU recently sued the city of Lakewood over a zoning ordinance that prohibits the college from owning and renting housing in residential areas next to its campus to students.