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Commercial Real Estate

No flowery prose today – there’s too much real estate news to pass on. From the opening of the 2002 Parade of Homes to the Urban Land Institute’s mid-year projections and a plethora of new transactions to report, the dog days of August will be anything but dull. HBA’s Parade of Homes Runs August 9-25 […]
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No one showed up Wednesday morning to bid on the Antlers Hilton at the El Paso County Public Trustee foreclosure sale, so the property was sold to the lender for less than what was owed. The Antlers property had a deficiency of $3.6 million, and $38 million was the final amount the beneficiary paid for […]
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Eminent domain is not just a policy; it¡¦s the law for local and state governments. The law allows the Urban Renewal Authority of El Paso County to usurp businesses in areas where urban renewal will occur. Furthermore, the law states that the URA is not legally bound to compensate business owners for any costs concerning […]
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When buying commercial property in Colorado with the assistance of a broker, more likely than not the state approved Contract to Buy and Sell Real Estate (Commercial) will be used. This and the subsequent column will cover some of the more important aspects of that contract. If the reader cares to follow along, a copy of the contract noted above (CBS 2-7-04) can be downloaded from the Colorado Real Estate Commission Web site at www.dora.state.co.us/real-estate/contracts/CONTRACTSII.htm. Right at the top of the contract is a bold disclaimer in all caps suggesting the parties to the contract should seek counsel before signing the contract. In any commercial transaction, it goes without saying that all parties should thoroughly understand the contract and its various implications.
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CBRE’s Colorado Springs office announced three new leases signed at Colorado Square in downtown Colorado Springs. Located at 2 N. Nevada, Colorado Square is a 244,068-square-foot Class A mixed-use property owned by DPC Development Company of Greenwood Village, the company said in a press release. The three new tenants are: DOMOREGOOD | Hanon McKendry, a […]
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At its northernmost point, Powers Boulevard is met with a juxtaposition. By now, InterQuest Parkway was supposed to be a vibrant strip of hotels, entertainment venues, restaurants, offices and residences. Instead, semi-finished buildings left vacant for 10 years stand mere feet from new construction. Stymied by a stagnant economy and developer bankruptcy, associated players are […]
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The Toni & Guy Hairdressing Academy is moving from its far south Colorado Springs location into a three-story building at Union and Academy boulevards. The move allows the academy to double its space to nearly 18,000 square feet, and give the school a more campus-like feel, said Sandy Chandler, academy owner and director. The academy […]
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The growing reliance on cloud computing is reshaping traditional network computing and boosting demand for leased data center space in the U.S. For occupiers leasing a data center, Colorado Springs ranks among the markets with the lowest total project cost for leasing a data center, according to CBRE Group Inc. The CBRE Group, a commercial […]
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Colorado Springs-based Sierra Commercial Real Estate closed its doors this week after more than a decade serving the Pikes Peak region. Owner and President Dave Delich made the call after losing several of his brokers to nationally affiliated firms, but Delich said that parent company Sierra Properties will remain in business. “The brokerage was just […]
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Despite seemingly optimistic projections of the Colorado Springs commercial real estate market, a recent first-quarter report indicates net absorption is down in all of the city’s office submarkets. But the year’s first MarketView report for Class A/B office space — done quarterly by Cushman & Wakefield’s Colorado Springs Commercial group — found the negative absorption […]
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Carole Jackson of Security Florist used to bring her older flowers to the adjacent Dad’s Kwik Inn Diner at the end of each week. There her colorful contributions would adorn the tables. “We used to get customers often because of them,” she said of the now-vacant building at 385 Main Street in Security. According to […]
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The new 80-room Holiday Inn Express at 105 N. Spruce St. is still selling out months after peak tourist season, according to Tadz Jarosz, assistant general manager. The hotel’s grand opening was in May, marking what could be a precursor of additional commercial development around West Bijou Street just off Interstate 25. Holly Trinidad, a […]
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