Check out bite-sized business news, as well as some of the more positive things happening in the business community. This week’s roundup includes news from the Nexus Commercial Realty LLC, Colorado Springs Airport and Bank of the San Juans.
Nexus closes Southeast residential sale
Nexus Commercial Realty LLC closed on the sale of 1820 Monterey Road, an approximately 4,000-square-foot multifamily property, for $430,000. Austin Smith of Nexus represented the buyer, 1820 Monterey Rd LLC.
The property comprises four two-bedroom, 1½-bath townhome units. Each unit has more than 1,000 square feet with washer and dryer hookups. The building was constructed in 1984 and offers off-street parking for tenants.
The property is located in southeast Colorado Springs near the intersection of Monterey Road and South Circle Drive. It is a few blocks from both Pikes Peak Elementary School and Carmel Middle School.
Airport traffic down 10 percent
A total of 600,813 passengers have traveled through the Colorado Springs Airport this year through May. That’s a 10.8 percent decrease in year-to-date traffic compared to the same period in 2018, according to a COS news release.
“Although overall traffic shows a decrease, YTD aircraft load factors are up 2.4 percent, indicating that flights continue to be filled,” the release said. “The decrease in YTD traffic is an indication of 13.3 percent fewer seats in the market compared to the same period last year, primarily due to Frontier’s fall/winter pullback. The number of seats at COS is scheduled to dramatically increase in the second half of the year, with summer service expected to offer the most available seats for travelers at COS in 10 years.”
In May, the four carriers at COS enplaned a total of 146,746 passengers on 6.3 percent fewer seats for the month when compared to May 2018. Passenger load factors for the month were up 2.2 percent, as passengers filled an average of 87.9 percent of all seats during the month, with each carrier achieving a load factor between 86.5 percent and 91.1 percent.
• American has increased daily service to Dallas to six times daily in the summer;
• Delta has added a third daily flight to Salt Lake City;
• Frontier’s much-anticipated 2019 seasonal service returned with flights to Atlanta, Minneapolis/St. Paul, San Antonio and Washington, D.C. Tickets are available for flights booked through November;
• LAS (Las Vegas) goes to 10 times weekly beginning Nov. 11;
• PHX (Phoenix) goes to 10 times weekly beginning Nov. 14;
• MCO (Orlando) is three times weekly and is no longer scheduled as a red-eye beginning the week of Nov. 11.
• United has added a third daily flight to Los Angeles this fall;
• United mainline service to Denver returns.
Bank of the San Juans consolidates
Bank of the San Juans has consolidated two small Colorado Springs branches into a new, 10,000-square-foot banking center near downtown.
The new branch, located at 25 N. Spruce St., will celebrate its grand opening with a ribbon cutting at 10 a.m. July 12.
The two small branches it replaces were located a few miles west and east of downtown Colorado Springs.
“The new location better positions Bank of the San Juans to cater to Colorado Springs’ thriving community, thanks to its more convenient location, a stone’s throw from downtown, and superior environment,” a Bank of the San Juans news release said.
The new Colorado Springs branch marks the bank’s second new facility opening in 2019. In addition to Colorado Springs, Bank of the San Juans serves the Front Range communities of Pueblo, Pueblo West, Florence, Colorado City and Cañon City, plus Western Slope communities of Pagosa Springs, Durango, Grand Junction, Meeker, Rangely, Craig, Oak Creek and Steamboat Springs.
Each Bank of the San Juans branch operates with its own management in familiar communities, supported by the experience and shared resources of a network of similarly minded community banks. The Glacier family of banks has received numerous awards and has ranked among the top 10 percent nationally for financial strength, with other recognition from Forbes and Money magazines.