To the Real Estate Column’s regular readers, thank you for your contributions and updates. Lots of news to report this week.
Hoff & Leigh Rocks with March Activity
As always, the Hoff and Leigh team works a broad range of leases and sales. Here’s the latest on all the transactions completed through March 28.
Starting with building and land sales, Tom Gallagher of Hoff & Leigh represented Shepard of the Springs Lutheran Church in the sale of its 9800 sq. ft. church building at 9550 Otero Avenue. The purchaser was the Springcrest Foundation represented by Buddy Rutherford of Coldwell Banker Front Range Commercial. Selling price was $1,100,000. Charles Murphy purchased the lot at 218 South Limit Street from R & B Investments. Sales price was $120,000.00. Jim Schwerin of Hoff & Leigh represented the seller and Craig Anderson of Trammell Crow represented the buyer.
Craig Weiser purchased the land at 2960 Janitell Road from Bates Leasing Company. Sales price was $149,348.00. Bob Hoff of Hoff & Leigh represented the seller and Joe Clement of Remax Properties represented the buyer. Included in Hoff & Leigh’s leasing roster, note the boatload of deals completed by Tim Leigh. He must have kids in college – or plans for early retirement…
Noble Logistic Services leased 671 sq. ft. of office space at 4465 Northpark Drive, Suite 303 from Northpark, LLC. Tim Leigh of Hoff & Leigh represented the owner and Terry Vice of Hoff & Leigh represented the tenant.
PJ Auto Sales leased the 1866 sq. ft. industrial space at 1207 “B” South Nevada Avenue from Hoff & Leigh Management. Tim Leigh of Hoff & Leigh facilitated the transaction.
Superflow Corporation renewed the lease for 4200 sq. ft. of office/warehouse space at 3120 Beacon Street, Suites C, D, F, G, H & I from Hoff & Leigh Management. Tim Leigh of Hoff & Leigh facilitated the transaction.
Rocky Mountain Rivet leased the office/warehouse space at 3925 Interpark Drive, Unit C, from Der-Ken Associates. Dick Rackley of Kent Properties represented the owner and Tim Leigh of Hoff & Leigh represented the tenant.
Cherokee Ground Maintenance renewed the lease for the 1200 sq. ft. warehouse space at 3470 Chelton Loop North, Unit G from Gary and Jackie Murray. Tim Leigh of Hoff & Leigh facilitated the transaction.
Captain Cooley Cars, Inc. renewed the lease for the 1200 sq. ft. warehouse space at 3445 Chelton Loop East from NS Properties. Tim Leigh of Hoff & Leigh facilitated the transaction.
Stephanie Stevenson leased the 1800 sq. ft. office space at 815 North Nevada Avenue, Suite 100 from Erewhon, LLC. Lonnie Wagner of Highland Commercial represented the tenant and Tim Leigh of Hoff & Leigh represented the owner.
Paul Murphy and Michael Frederick leased the 1225 sq. ft. office space at 611 North Weber, Suite 104 from the FBN Company. Tim Leigh of Hoff & Leigh represented the owner and Terry Vice of Hoff & Leigh represented the tenant.
Sherry Brand leased 399 sq. ft. of retail space at 32 East Bijou Street from Vista Montana, LLC. Tim Leigh of Hoff & Leigh facilitated the transaction.
Odyssey Healthcare leased the 6000 sq. ft. office space at 4465 Northpark Drive from Northpark, LLC. Tim Leigh of Hoff & Leigh represented the owner and Chuck Armstrong of Hoff & Leigh represented the tenant.
Ryan Haddock leased 3774 sq. ft. of industrial space at 1207 “D’ South Nevada Avenue from Hoff & Leigh Management. Tim Leigh of Hoff & Leigh represented the owner and Tom Pederson of Lovitt & Associates represented the tenant.
Raytheon Company leased 1200 sq. ft. of industrial space at 3445 Chelton Loop North, Unit F from NS Properties. Tim Leigh of Hoff & Leigh represented the owner and Terry Vice of Hoff & Leigh represented the tenant.
“A Carpet Doctor” leased 1890 sq. ft. of industrial space at 575 Valley Street, Unit I from Schafer Valley Properties, LLC. Tim Leigh of Hoff & Leigh represented the owner and Charlie Madson of Hoff & Leigh represented the tenant.
The following leases were completed by other Hoff & Leigh brokers:
Living Designs, Inc. leased 3000 sq. ft. of industrial space at 3025 and 3029 Delta Drive from Shirley Binder Johnson. Charlie Madson of Hoff & Leigh facilitated the transaction. In another lease, Madson represented the tenant, Activation One. on 1437 sq. ft of office space at 3105 North Hancock Avenue. Dave Ankeney of Metro Brokers represented the owner, Central Colorado Management.
Unifirst Mortgage Company leased the office space at 7035 Campus Drive, Suite 907 from Bill Muhr. Bill Perry of Hoff & Leigh facilitated the transaction.
Nak An leased 1200 sq. ft. of retail space at 6660 Delmonico Drive from Montrose Investment Partners, LLC. Jim Schwerin of Hoff & Leigh facilitated the transaction.
Optimum Filter, Inc. leased the 5,000 sq. ft. industrial space at 4750 North Chestnut from Conejo, LLP. Schwerin represented the owner and Charlie Conrad of The Olive Group represented the tenant.
Felix and Nancy McCleary leased 1400 sq. ft. of retail space at 3355 North Academy Boulevard from Weingarten Nostat, Inc. Dick Liccardi of Hoff & Leigh represented the tenant and Greg Kaufman of Palmer McAllister represented the owner. US Data Systems leased 500 sq. ft. of office space at 5510 North Union Boulevard from Savasi Corporation. Dick Liccardi also facilitated that transaction. By the way, Liccardi publishes “The Investor”, a promotional newsletter geared to prospective tenants. In his March issue, he says that “Regarding the purchase of a building…there are few steals and very few deals.” Three properties he currently has listed are owned by non-profits – including the U.S. Judo Association and a fraternal organization.
S & A Drywall leased 495 sq. ft. of office space at 5150 North Union Boulevard, Suite 107 from America 2000. Doug Malmgren of America 2000 represented the landlord and Terry Vice of Hoff & Leigh represented the tenant. Vice also represented the tenant, Jason Congin, on a 798 sq. ft. office lease at 2790 North Academy Boulevard, Suite 353 from Brent Hawker and Company. Mary Frances Cowan of Grubb & Ellis represented the owner.
Ted Link Sews Up Medical, Legal Deals
Ted Link over at Fidelity Real Estate, Inc. certainly hasn’t let the grass grow under his feet either. In fact, Link’s current deals include five health industry transactions and a law practice lease. Beginning with land sales, he reports a closing on .92 acres in Pueblo off Jerry Murphy Boulevard. Sales price was $87,000 for the land on which Nevus, LLC, ( a group of Colorado Springs dermatologists) will build a new office. Copestone Construction will handle construction on the 5000 to 6000 sq. ft. structure — to be completed by November 2002.
On the leasing side, Link represented the tenant and the landlord, the Joseph Musto Estate, on a 1,716 sq. ft. lease to Jones & Waters, P.C., a legal firm, in the Alamo Office Building at 128 South Tejon.
He also represented Maria Javeed, M.D., a surgeon, on the lease of 1,800 sq. ft. at 1633 Medical Center Point. The landlord was represented by Tom Cone of The Olive Real Estate Group. In addition, Link reports the lease of 2,328 sq. ft. to Retina Consultants in Pueblo. His client needed room to expand – and selected space at 41 Montebello Avenue in the University Center Building. The owner/landlord was represented by Mark Gleichman of Gleichman and Sumner Properties out of Milwaukee, Wisconsin.
In Colorado Springs he represented the landlord, Bethesda Management Company, on a 4,817 sq. ft. lease at 1465 Kelly Johnson Boulevard with Physician Coding, an expanding local company.
Finally, Link represented the tenant, Thomas Slack, D.D.S. in leasing approximately 2,400 sq. ft. at 2504 East Pikes Peak. The Landlord was represented by Lonnie Wagner of NAI Highland Commercial Group.
NAI Highland Commercial Group Sells Powers Parcel
Good news from Jim Spittler, SIOR, at NAI Highland C
ommercial Group. He recently represented the seller, NAAG Holdings, Inc. on the $4.4 million sale of 35 acres of land on the southwest corner of Powers and Palmer Park Boulevards. As reported earlier, the site has been ear-marked for development of a new Wal-Mart Supercenter. The balance is slated for three freestanding pads and one in-line retail location.
Kevin Kratt Leases Up Academy Shops
With three new retailers in final stages of tenant finish, Kevin Kratt says his Academy Shops Center at Shrider and North Academy will soon be 100 percent leased. Next month Kratt says Extreme Pizza, Panera Bread Company, and the Aaron Brothers Fast Frame Shop will celebrate grand openings.
Kratt hit another leasing homerun in his new Shoppes at Rockrimmon Center at Vindicator and Centennial Boulevard. “This project represents the last retail property in the Mountain Shadows valley which extends from Peregrine through Mountain Shadows and Pinion Valley. The residents are ready for the services we’ll provide,” he said. The 7900 sq. ft. center will open in early May 100 percent-leased – details to come.
MAME Winners Announced
The Housing and Building Association of Colorado Springs will announce its annual MAME award winners on Saturday, April 13 at the Broadmoor International Center – always a great event. Stay tuned for next week’s report on the winners!