The Pikes Peak region has seen an infusion of close to $1 billion in new commercial real estate investment during the past five years, but industry experts are predicting transaction volume and prices may level out during 2008. Prices during October increased 1.6 percent from September, according to the Moody’s/Real Commercial Property Price Indices. Moody’s […]
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Under the Copper Ridge retail development deal, the Colorado Springs Urban Renewal Authority would have to issue up to $105 million in “special district” revenue bonds to finance the Powers Boulevard extension. Special district bonds became popular during the recessionary 1980s, as cities and counties were increasingly unable to fund infrastructure projects. These bonds are […]
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Simon Penner of CameronButcher Commercial Real Estate brokered a number of leases recently for downtown commercial properties. He represented both the lessee and the lessor on all of them. “Space is tightening up in downtown Colorado Springs,” Penner said. The properties include: • A new quick-serve sushi restaurant at 107 N. Tejon St., operated by […]
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Gold Hill Mesa Partners, the ownership group behind a 216-acre residential development on the city’s Westside, is waiting to hear from the U.S. bankruptcy court if it can buy back 46 single-family and multi-family lots it sold to John Laing Homes in 2007. Laing declared Chapter 11 bankruptcy in February 2009, closing dozens of projects […]
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Quality land development and quality of life go hand in hand – or so says Scott Smith, chief operating officer and manager of La Plata Investments, developer of 9,600 acres in the Briargate community for six of the last 22 years. Briargate today represents the culmination of vision, land studies, planning, building, economic boom and […]
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The U.S. housing price index rose .2 percent overall from $231,000 in August to September’s rate of $232,000, according to a report by Lender Processing Services Inc. That national number saw a 9 percent swell from the $212,000 HPI rate that LPS marked the same time last year but a 14.1 percent decrease from its […]
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One country’s distress may be another’s opportunity. While the U.S. real estate market has seen double-digit price decreases along some parts of the west coast, Florida or Las Vegas, European investors are keeping an eye on prime American real estate. One new Colorado luxury project, for example, recently made its way to a Danish investors’ […]
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Oakwood Homes is busy rebuilding momentum in Banning Lewis Ranch.
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Improved home sales in the Pikes Peak region have bucked the national downward trend, according to figures from the Pikes Peak Association of Realtors and the National Association of Realtors. In the Pikes Peak region, sales of single-family homes increased to 870 in February, up from 849 in January. Condominium sales also increased, to 131 […]
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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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The country’s first U.S. Department of Homeland Security biological and agricultural defense facility will be built in the heartland — about 400 miles east of Colorado Springs in Manhattan, Kan., on the campus of Kansas State University. The 50-acre complex will include up to 520,000 square feet of a secured bio-safety level, several research laboratories, […]
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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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