The Colorado Springs commercial real estate market continued to see slow growth during the first quarter of 2015, with land investments and planned development spurring the region’s hope for cross-cutting growth in the year to come, according to Quantum Commercial Group’s quarterly report. The report, released this week by the Colorado Springs-based real estate firm, […]
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While 2016 is proving to be another record-breaking year for the local residential real estate market, the increasing likelihood of mortgage rate hikes is creating uncertainty for some and opportunity for others. Although November saw a slight dip in home sales, monthly sales grew 46.7 percent above the same time...
Apartments filling Fourth quarter 2009 offered a ray of hope for multifamily owners and managers. Sperry Van Ness broker Doug Carter and Apartment Insights reported that the citywide average vacancy rate for apartment communities of 50 or more units stood at 7.4 percent for the quarter. That was down from third quarter’s 7.8 percent average […]
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Sonya Robison was surprised to receive foreclosure notification for her 40-acre property in Yoder last year. She had been behind on her mortgage but was making payments to the lender as per their agreement. Robison also was confused. The lender that wanted to foreclose on her home was Deutsche Bank National Trust Co. — and […]
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The man behind the Mining Exchange, a downtown Wyndham Grand Hotel due to open this spring, stands to lose more than $200,000 he invested in a LandCo development-related project on South Union Boulevard unless he rescues it from foreclosure. First Citizens Bank and Trust filed a notice of election and demand against The Ridge at […]
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The two Colorado Springs women behind Blue Dot Place, a 33-unit apartment complex under construction in south downtown, showed their enthusiasm while hosting public tours of their brainchild development on June 18 and June 23. Kathy Loo and Darsey Nicklasson, two halves of BDP Development LLC, together led a group of around a dozen community […]
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The owner of a Gold Hill Mesa home filed suit this month against the builder, saying the home is not as energy-efficient as the builder purported. Further, the builder knew the home wasn’t as energy-efficient during the sales process, said homeowners Hannah Polmer and William Robert Rudge in their lawsuit against Hi-Point Home Builders LLC, […]
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While Colorado Springs apartment vacancy rates fell in the second quarter, rents increased. Apartment Insights, a quarterly apartment market report put together by apartment broker Doug Carter at Sperry Van Ness, reported a city-wide vacancy rate of 6.38 percent. The average rent increased $7 from the first quarter to $747 per unit. Rent citywide is […]
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Commercial real estate in Colorado Springs is coming back, with downtown office properties’ occupancy and lease rates remaining more stable and consistent than other sectors. “It’s a fairly small marketplace, and the profile of users downtown is also stable — accountants, law firms, investment firms. The type of tenant that wants to be downtown has […]
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Cindy Cartwright immediately felt at home when she moved from California to Colorado Springs with her family as a 12-year-old in 1989. Now 36, Cartwright works matching skills with needs in the local employment industry as a manager at ADD STAFF. Tell us about your job. I began my career with ADD STAFF in July 2006 […]
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At least two of the largest lienholders in the Colorado Crossing development fiasco have discussed the possible takeover of the project from developer Jannie Richardson. Jim Johnson, the CEO of G.E. Johnson Construction, of one of the companies owed money in the project’s collapse, said no firm plans have emerged from the talks but that […]
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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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