A Colorado Springs-based real estate firm’s quarterly report indicates that the local commercial market continues to lag behind many others in its climb to pre-recession health. Quantum Commercial Group LLC’s second-quarter market report showed vacancy rates are down in the office and retail submarkets, while they remain flat for industrial space. Quantum also reported that […]
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The San Diego office of Colliers International announced the purchase of a 6,166-square-foot retail property at 1520 Briargate Blvd. for $4 million as part of a 1031 tax deferred exchange. This Chapel Hills Mall outparcel property is currently occupied by US Bank, which has a remaining 10-year lease. Rick Puttkammer of Colliers International represented the […]
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A recent market report from Colorado Springs-based Quantum Commercial Group has indicated continued recovery for the local commercial real estate market — slow as it may be. Quantum’s first market report of 2014 reviewed data from the year’s first quarter, tracking flat or sluggish trends in the metropolitan area’s office, industrial and retail markets. But […]
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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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Litigation in the long-contentious Colorado Crossing suit took a decidedly forward step last week in U.S. Bankruptcy Court. Colorado Crossing developer Jannie Richardson and SRKO Family Limited Partnership owe 40 contractors and subcontractors more than $17 million from the derailed development in northern Colorado Springs. Colorado Crossing was the vision of developer Richardson and her […]
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Griffis/Blessing Inc. will handle property management for The Flats at Sky Village and The Reserve at Oak Park, both located in Arvada and owned by Ruffner Properties LLC. The Flats at Sky Village is the larger of the two properties with 105 one- and two-bedroom apartment homes, whereas The Reserve at Oak Park has 42 […]
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A Colorado Springs-based property management group will manage the Academy Gateway Retail Center near the intersection of North Academy Boulevard and Woodmen Road. Griffis/Blessing Inc. announced in a news release Thursday that the company will now manage the 28,285-square-foot shopping center at 7140-7190 North Academy Blvd. The leasing broker marketing the vacancy at Gateway center […]
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Commercial real estate The past year has brought optimism. Vacancy rates are down across the board, supply and demand are beginning to turn the economic tide and the year has been marked by several newsworthy transactions. These pieces highlight some trends and shine light on the underpinnings of a few of Colorado Springs’ most lucrative […]
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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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The Garden of the Gods Club announced Tuesday that an investment group operated by two local women has purchased the historic facility, which had been on the market since June. Colorado Springs residents Brenda Smith and Judy Mackey are the new owners of the club, making this the first time it has been locally owned […]
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The two concrete tilt-up structures will house the offices of entrepreneur Tim Dumler’s Larkspur-based Off the Chain LLC and are scheduled to be completed in June 2014, according to the release. Bryan Construction will also conduct all other work related to the Caprice Court site, including utilities, over-lot and landscaping. Documents from the Douglas County […]
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