Colorado Springs News, Sports & Business

Gazette Premium Content Gazette's former property near downtown Colorado Springs sold

By Wayne Heilman Updated: June 3, 2014 at 7:08 am

A limited liability company set up by Colorado Springs attorney Bruce Wright bought the former Gazette property for $1.78 million, according to El Paso County land records.

But what the property will be used for, and who all is involved besides Wright, remains a mystery. Wright didn't return phone calls about the transaction, which was completed Thursday. Marty Johnson of CBRE Inc., a commercial real estate firm hired to sell the property, declined to comment on the deal.

The seller was a limited liability company set up by Freedom Communications Inc., the former parent company of The Gazette. The sale includes four buildings totaling 128,832 square feet, 6.65 acres, three parking lots and a park, all at Pikes Peak Avenue and Prospect Street just east of downtown.

The purchase comes six months after The Gazette moved its newsroom, advertising and other operations to a 30 E. Pikes Peak Ave. The printing operation shut down after the Denver Post began printing The Gazette in April 2013.

Denver-based Clarity Media Group acquired The Gazette in 2012 from 2100 Trust LLC, an investment group that acquired Freedom Communications earlier that year. Clarity's purchase didn't include the buildings, land, printing presses, furniture or furnishings.

A high-profile building across the street from The Gazette, the former St. Francis Hospital, was sold Feb. 3 for just $50,000 to 825 East Pikes Peak LLC, a company formed by Nor'wood Development Group, according to county land records. That property includes nearly 9 acres across Prospect Street from the former Gazette building as well as the original hospital building, two additions, a parking lot to the south and a building on the property's southeast corner. Nor'wood President Chris Jenkins was not available Monday for comment.

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