Old-timers might recall the days when Colorado Springs residents had two newspapers from which to choose their daily dose of information. The building that housed the Colorado Springs Sun, the now defunct one of those two newspapers, has been sold. H2 Properties, LLC of Colorado Springs bought the building from a single owner/investor, who declined to be named, for $4.5 million.
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<br> The Sun Plaza building, located at the southwest corner of Cascade and Colorado avenues, is 100-percent occupied, and there are no changes planned for the building.
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<br> Gary Hollenbeck, president of Palmer McAllister, a Frederick Ross company, announced that Palmer McAllister will provide all asset-management duties for the building, including the leasing of new businesses.
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<br> "We will obviously want to maximize the income level potential for the new owners, but the current situation is status quo," said Hollenbeck.
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<br> Though the building had been rumored to be the planned site of the proposed convention center, it now seems that as vacancies become available, the building holds great possibilities for high-tech companies.
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<br> High-tech companies are large consumers of electricity and need a special environment for their operations that allows for maximum power, floor loads, and back-up generators. Some of the downtown Colorado Springs area’s buildings are attractive to high-tech companies because of the fibers that run through the streets and provide ultimate capacity electricity. And the Sun building, which was constructed in 1979, is one of them. But Hollenbeck says that it is "business as usual" while the building is fully occupied.
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<br>Real estate advertising companies join forces
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<br> Homes Illustrated has been bringing the available real estate market to the publicsince 1972 via the print media. Now, an Internet media company, Homephotoz.com, and Homes Illustrated will combine their efforts to cross-promote homes for sale in the Pikes Peak region. Homes Illustrated readers will be able to view more detail online about the homes, and home sellers will be able to place their properties online at a low cost by working with Homes Illustrated. Realtors, contractors and homeowners can contact Homes Illustrated to have their properties listed on the Internet within hours of the initial call. The sellers can upload photos, or the sellers can opt to have the process completed for them. Home photos and information will remain online for one fee until the property is sold.
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<br> Craig Connor is president of Homephotoz.com and says, "this alliance leads the way to a whole new type of real estate marketing – combining the old with the new." And Vivi Gloriod, sales manager with Homes Illustrated agrees. "The best part is the minimal fee of placing the home on the Internet. This is a true benefit for the people selling their homes."
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<br>Mentoring program for Realtors
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<br> Donnette Vincent has been in the real estate industry for 25 years and, since 1986, she has been training Realtors.
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<br> "Only one in 1,000 people who get a license for real estate succeed," said Vincent, a broker with Keller Williams.
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<br> And Keller Williams wants their agents to succeed and they will pay them to do so. Vincent recently announced the beginning of a new real estate team, Vincent & Company, formed for Keller Williams’ Colorado Springs office at 7660 Goddard St. Vincent’s team includes five Realtor team members, and Vincent says those team players "make five times as much money as other Realtors at their level of experience."
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<br> Vincent mentors all of her new agents and accompanies them on appointments for the first six deals. Agents design their own weekly, monthly and yearly goals and meet with Vincent as a group each Tuesday to discuss their individual progression and the current standing for the entire team.
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<br> Keller Williams is one of the fastest growing real estate companies in the country because of its unique agent-focused model for real estate sales. Keller Williams’ Partners for Life Profit Sharing Systems is attracting Realtors, and the mentoring program will allow them the same kind of success afforded to the seasoned agents. Keller Williams Market Centers in Colorado, in just nine months of the past year, distributed more than $750,000 in profit sharing back to its real estate agents.
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<br>Design group names new Springs director
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<br> Tom Como has been named director for the Gray Design Group of Colorado Springs. Como was promoted from project manager to the director position and will be responsible for managing projects from programming through installation, including the preparation of conceptual studies, space plans, construction documents, selection of finishes and architectural elements.
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<br> One of Gray Design’s recent projects was the architectural planning and interior design service for the 150,000-square-foot ChannelPoint facilities. Gray Design has been designing interiors and offering architectural expertise since 1982. In 1999, the firm had more than 8 million square feet under design nationwide. Ninety-five design professionals are employed in four offices throughout the country: Colorado Springs, Denver, St. Louis and Fort Myers.
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<br>More office buildings sold
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<br> Joe Niebur, owner of J.C. Properties LLC sold two office buildings at South Pointe Court to Real Estate Opportunity Fund LLP, of Englewood. More than 37,000 square feet of commercial space was sold for $4.9 million. No changes are planned for the buildings.
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<br>Real estate company challenges others
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<br> Shields Real Estate, at the late December Community Corporate Challenge Breakfast reception, presented checks totaling more than $3,500 to the Marian House Soup Kitchen, the Masaba House and Partners in Housing. The breakfast is a direct result of Shields Real Estate president and owner Bill Hurt’s desire to challenge members of the real estate industry to continue their active involvement in helping others in the community.
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<br> In 1998, Shields Real Estate established an internal Community Involvement Committee to review solicitations the company received. This year, the real estate company and its employees and agents contributed more than $40,000 to local nonprofit organizations.
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<br> In addition to the Community Involvement Committee, the Martha Taylor Team of Shield’s Broadmoor office donates a portion of each real estate transaction to Care & Share of Colorado Springs, and more than $2,100 was donated this past year. The Martha Taylor Team has sponsored Care & Share for more than 10 years and has contributed in excess of $30,000 to its food distribution program.
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<br> "Our company and this industry have had another tremendous year," said Hurt, "and we want to continue to show our appreciation and commitment to our community and fellow neighbors. We feel fortunate to be thriving as a result of our brisk economy."