USA Triathlon Acquires Ownership of National Office Building
10 Mar, 2014
Major Gift Enables NGB to Purchase Headquarters
USA Triathlon is pleased to announce that the National Governing Body has acquired its current office building and will remain in Colorado Springs for the foreseeable future. The transaction was due in part to a generous donation from Nor'wood Development Group.
The organization moved to 5825 Delmonico Drive on the northwest side of the city in September 2010, and nearly 50 of USA Triathlon's 57 full-time employees work on-site. Founded in 1982, USA Triathlon has been headquartered in Colorado Springs since fall 1988. The donation from Nor'wood allows USA Triathlon the flexibility for expansion, and available space in the building may be offered for lease to other tenants including U.S. National Governing Bodies in the coming months.
"This investment in our national office headquarters is a testament to the growth of the sport and the success of our organization," said Rob Urbach, USA Triathlon CEO. "This transaction not only enhances our balance sheet but also enables us to expand in size and scope while better serving our constituents. We are also proud to represent the Olympic Movement here in Colorado Springs alongside the U.S. Olympic Committee and a number of other National Governing Bodies."
Nor'wood Development Group has been a leading multi-generational family business in Colorado Springs for over 40 years. Owned and operated by Colorado natives who are avid cyclists and runners, Nor'wood viewed the multi-million dollar gift as another way to support the local sports economy. Prior to USA Triathlon, Nor'wood played a role in the purchase of the USA Cycling and USA Volleyball national office buildings in the area.
"USA Triathlon has made significant contributions to the community over the last 25 years, and this donation has allowed USA Triathlon to make the commitment to stay here in Colorado Springs for the long-term," said Chris Jenkins, President of Nor'wood Development Group. "This is the third National Governing Body we've worked with, and we're passionate about the future of Colorado Springs becoming America's Olympic city."
About USA Triathlon: Founded in 1982, USA Triathlon is proud to serve as the National Governing Body for triathlon - the fastest growing sport in the U.S. Olympic Movement - as well as duathlon, aquathlon, aquabike, winter triathlon, off-road triathlon and paratriathlon in the United States. USA Triathlon sanctions more than 4,300 races and connects with more than 550,000 members each year, making it the largest multisport organization in the world. In addition to its work with athletes, coaches and race directors on the grassroots level, USA Triathlon provides leadership and support to elite athletes competing at international events, including International Triathlon Union (ITU) World Championships, Pan American Games and the Summer Olympic and Paralympic Games. USA Triathlon is a proud member of the ITU and the United States Olympic Committee (USOC).