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Recent commercial office space sales should spur lower vacancy rates and rising lease rates, according to reports from Cushman & Wakefield Colorado Springs Commercial, a realty group.
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The Farnsworth Group, which leased 9,000 square feet at 4755 Forge Road from 4755A Forge Road LLC, has been awarded the 2009 Colorado Facility of Excellence (COFAX) Award from the International Facility Management Association. The company earned top honors in the Environmental Impact/Resource Conservation category for the redesign of a commercial interior at its Colorado […]
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The average cost of apartment rent in Colorado Springs continues to rise as more high-end units enter the market. “Part of this most recent increase really isn’t a rise in rents as much as the product that is coming online and being included are higher-end properties,” said Laura Nelson, the executive director of the Apartment […]
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The number of multi-family construction permits issued so far this year is at a nine year high, but that doesn’t mean there’s going to be a building boom. The Pikes Peak Regional Building Department has issued 18 permits for developers to construct 407 multi-family units so far this year, the highest number of units approved […]
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Denver-based BMC Investments recently bought two Colorado Springs apartment properties. BMC paid $4.2 million for 148-unit Timberlane Apartments at 3985 E. Bijou St. and $3.175 million for 95-unit Ashelyn Court at 930 N. Murray Blvd. Both complexes are about 90 percent occupied, according to a release from FirstBank, which financed the purchases. BMC plans to […]
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Following are the most expensive foreclosures greater than $200,000 that sold at the El Paso County Public Trustee’s foreclosure auction on Wednesday, Jan. 11.
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Colorado Springs School District 11 and its neighborhoods have problems with a declining population. Student enrollment is dropping, property values are low and retail centers have high vacancy rates. The area, which covers the geographic center of the city, is ripe for revitalization, and some believe it’s on the verge of happening. Others, though, believe […]
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The traditional summer housing slowdown that was evident in July and August in Colorado has continued into September, according to the latest figures from the Colorado Association of Realtors. Despite the number of sales declining month by month, the numbers remain higher than those seen for the same months last year. Housing markets often experience […]
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A steadily growing population throughout the region has made the leasing part of apartment property managers’ jobs fairly easy the past several years. However, since the beginning of January, the demand for apartments appears to have slowed slightly, likely due to seasonality and new units coming online, said Carmen Azzopardi, senior vice president of multifamily […]
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The 3,756-square-foot former Michelle’s building at 122 N. Tejon St. will be offered for auction Oct. 8. The sellers hope to fetch somewhere between the market average of $80 and a high of $200 per square foot. The auction will be the first of its kind in downtown Colorado Springs’ recent history. Schur Success Realty […]
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A local custom home builder who was ready to build a spec home in Pine Creek when recession hit in 2007 decided to take a chance on the home with green building — and made history in the process. Charlie and Nancy Shea, owners of C.R. Shea Homes, won the state’s National Association of Home […]
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Changes to the Defense Department budget proposed this week by Secretary Robert Gates could affect the 100 or so contractors with a Colorado Springs presence.  Budget reallocatoin also might impact the city’s largest defense contractor landlord, Maryland-based Corporate Office Properties Trust, which controls more than 1 million square feet of office space. A report published in the Washington Post […]
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