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BoA (20 of 24).JPG

Bank of America

1611 S. Nevada, Colorado Springs, CO

Property Status


Lot Size

1.15 AC

Building Size

4,500 SF

Deal Type


This retail corridor on the southern edge of Colorado Springs has gradually transformed over the years. I had done the Starbucks just up the street from this property, recognizing the high demand for tenancy in this area, and had been diligently exploring alternative sites for years. The Big O Tires caught my interest due to its slightly over 1-acre size and strategic location at a rare traffic light. The building was older, but everything was okay with it. However, I didn’t let that dissuade me from at least trying. When I finally spoke with the property owner, he told me he also operated the Big O Tires, which was doing excellent business for him. He was polite but wasn’t interested in selling. I called again a month later, and the same thing. I called one month later. I emailed him. No response. I then sent him an offer in the mail. No interest. Eventually, during a visit to Colorado, I popped into the store to introduce myself. This time, it was different. This time, he was open to negotiating a deal with me. It took an additional month to finalize mutually agreeable terms. Once a deal was struck, I secured an agreement with Bank of America upon initiating the escrow process. The beauty about most off-market deals, especially with currently operating businesses, is that they aren’t in any significant hurry, which worked in my favor here. This marked my third deal with Bank of America, and the lease alone took over 17 months to complete.  To get this deal closed, I needed a fully executed and non-contingent lease to get my financing. I communicated regularly with the property owner to keep him apprised of my progress with the tenant. At the same time, I was confident I’d close, but I wasn’t exactly sure when. Luckily, that regular communication built a ton of goodwill, and he gave me the much-needed time on the land contract to work through the process. Without that, we would likely never have gotten this deal closed and built. Now, Bank of America occupies one of the most desirable sites in this corridor.

J. Clint Jameson, CDP

Managing Partner

1611 S Nevada CRE
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