November 28, 2023
  • November 28, 2023
  • Home
  • Real Estate Company
  • Texas real estate company buys 3 Summit Entertainment centers – Loveland Reporter-Herald

Texas real estate company buys 3 Summit Entertainment centers – Loveland Reporter-Herald

By on May 11, 2022 0


Summit Entertainment of Northern Colorado LLC has sold its entertainment centers in Windsor, Thornton and Colorado Springs. All three locations were sold to Spirit Realty LP of Dallas, Texas on April 7.

The Summit’s three locations include bowling alleys, arcades, and laser tag arenas, in addition to a full-service bar and restaurant. The Windsor location, 4455 Fairgrounds Ave., is located near the Ranch Events Complex, just off Crossroads Boulevard.

The entertainment company has sold its Windsor site for $16.44 million. The final sale included the 4.72 acre parcel of land and all improvements to the site. Northern Colorado’s Summit Entertainment originally purchased the land from Eagle Crossing Windsor LLC for $1.65 million in 2013.

The buyer has also entered into an agreement with the City of Windsor imposing a project improvement fee. Windsor City Council passed an ordinance in 2017 allowing the city to charge fees to entities that generate traffic within city limits to fund road improvements.

Spirit Realty purchased the facility from Thornton for $15.57 million. Summit Entertainment of Thornton LLC purchased this location in 2015 for $1.63 million. The site located at 580 E 144th Ave. at Thornton includes many of the same amenities as Windsor Entertainment Centre.

Another Summit location at 1180 Interquest Parkway in Colorado Springs also sold for an unknown amount.

Representatives for Summit Entertainment Centers and Spirit Realty did not respond to requests for comment by press time.

​​This article was first published by BizWest, an independent news agency, and is published under a license agreement. © 2022 BizWestMedia LLC.

Source link