Sundance at Fish Creek sells to Brinkman for $11.75M
STEAMBOAT SPRINGS — Sundance at Fish Creek has sold for $11,750,000 to Brinkman, a real estate development and investment company based out of Fort Collins.
“We are always looking for projects that fit with our business model that helps the people in the community and gives back to the community,” said Brinkman co-founder Paul Brinkman. “Sundance is great because there are a good concentration of nonprofits that are in that space. We also liked it because the Larsons have done a good job of managing and taking care of the facility, and it’s in a great location.”
Brinkman purchased the 67,000-square-foot retail and office center — which is the home of Starbucks, Sherwin Williams, Fiesta Jalisco and the Egg & I — from AlpenGlow Ventures.
“We have had a number of people approach us over the years,” said Bob Larson who manages the property for his father and stepmother. “It was more about timing than anything else.”
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Sundance was approved for development in 1979 and was built in phases from 1981 to 1982 Larson said. Today the retail and office center, located at Anglers Drive and U.S. Highway 40, is home to more than 30 tenants ranging from eye care offices to the Steamboat Springs Driver License Office.
“Sundance created a lot of jobs for a lot of people for a long time,” Larson said. “It’s been a good thing for the town, and it was good for us.”
Jim and Susan Larson purchased Sundance, which included seven buildings on 7 acres, in January 2002 for $5,850,000.
Renovations in 2003 and 2004 included digging up the parking lot and repaving, adding sidewalks in front and the back, updating the facades on the buildings and opening the back of the building up to Fish Creek, which flows directly behind the property.
The condition of Sundance and the community of Steamboat were part of the reason Paul and Kevin Brinkman wanted to acquire the property.
“We’re investing in the community,” Kevin Brinkman, CEO of Brinkman said in a news release about the purchase of Sundance. “We’re excited to work with existing tenants to continue momentum in the center while also collaborating with new potential tenants to fill vacancy.”
The two brothers founded Brinkman in 2005. Today the Brinkman’s company employs 125 people and has offices in Denver and Colorado Springs. Paul and his wife, Chresta, moved to Steamboat eight years ago.
Since arriving to Steamboat, Brinkman has built the Skiview Place, developed a small subdivision on Pahwintah Street and built their offices in downtown because they saw nonprofits needed meeting space. That space is provided for free to nonprofits.
“That’s just kind of a common theme with us, our family and our business,” Paul said. “We want to have real estate be able to benefit the community.”
Paul said, while Sundance has many longtime tenants, there is still some space available. Jim Cook commercial business broker and Greg Breslau with Colorado Group Reality will represent Brinkman.
“We do have some space available, and it’s a great location,” Paul said. “With the change of ownership, it allows us to be a little more creative in getting deals done. … We are looking for interested people who may want to visit the space for the first time or have looked at the space before and could not get a deal done.”
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