Apartment occupancy rates are up statewide as well as in Colorado Springs. In fact, vacancies have tightened to the point that occupancy rates have reached an eight-year high, according to the Colorado Division of Housing’s first-quarter report, which tracks all multifamily units throughout the state. The trend is fueled in part by increases in troop […]
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Oakwood Homes is busy rebuilding momentum in Banning Lewis Ranch.
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Although Colorado Springs’ industrial building space saw significant slowing in 2001, rental rates haven’t slipped appreciably compared to most major Southwest cities. Stalled technology sectors disrupted the Pikes Peak region’s industrial market and created a negative absorption rate between 2000 and 2001, according to the Grubb & Ellis/Quantum Commercial Group’s 2002 Real Estate Forecast. Industrial […]
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The northeast quadrant of Colorado Springs might have reached the medical office saturation point during the past 18 months, but that doesn’t mean activity has stalled completely. Healthcare Realty Trust, investors in the two-building Briargate Medical on Briargate Parkway, across from Memorial Hospital North, announced last week that the newly completed campus will soon welcome […]
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The front door opens at Woodmen Wine & Liquor Company, and owner Dee Jones sees three of her regular customers. “Hola!” she says, waving to the familiar Spanish-speaking tradesmen who are stopping by on their way home from a job. At the same time, one of Jones’ wine suppliers is packing up, orders in hand, […]
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Ask any business executive about current economic conditions and you’ll hear a roll call of market illnesses that share the same symptom: uncertainty. There is no justification to hire when bottom-line growth is primarily a result of cost-cutting and layoffs, no reason to expand when talk of double-dip recession won’t die down, and it can […]
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The Colorado Springs commercial office market showed the slightest sign of life last week with a multimillion-dollar building sale. HPRT Properties Trust, a Massachusetts-based real estate investment trust, bought the two-story Class A office building near Woodmen Road and Interstate 25 for $10.8 million, in line with the El Paso County assessor’s 2010 market value. […]
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While Colorado Springs real estate insiders have bemoaned the city’s high office vacancy rates, they’re similar to those in other cities the same size, according to Hoff & Leigh Commercial Real Estate. “The surprising thing is that we’re actually pretty well positioned in comparison to other tertiary markets,” said Hoff & Leigh researcher Jason Baumgartner. […]
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If Colorado Springs is the land of honey, then developers are sticking to it. Circle Square Properties LLC of Brighton, Colo., bought 18.6 acres of land on the southeast corner of Circle Drive and Janitell Road for $2,834,994 from Recreational Investments and Management Inc. in Branson, Mo. The property is part of Harrison Business Park. […]
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Lower commercial real estate vacancy rates led to higher rents in the second quarter of 2017, compared to the first quarter of the year, according to the latest Colorado Springs market numbers. Caleb David, broker at Cameron Butcher Commercial Real Estate, said increased demand over the summer is fueling rent hikes. “We’ve seen rates go […]
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Eight apartment properties sold in Colorado Springs during the third quarter of this year. Those are big sales figures, said Doug Carter, an apartment broker with Sperry Van Ness and publisher of the quarterly Apartment Insights market analysis. There’s good reason for a surge in apartment property sales, Carter said. The vacancy rate dropped to […]
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A powerhouse real estate partnership that includes Griffis/Blessing, Culebra Properties (a Lane family entity) and Nor’wood Development Group recently broke ground for The Cascades, a 184-unit downtown apartment development. Situated on a half-block parcel on the northeast corner of Cascade Avenue and Rio Grande Street, the complex will, according to a memorandum sent to potential project […]
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