Last week I joined a group of fifteen realtors on the “Sales Group Tour,” a monthly shuttled event, organized by Steve Wrestler of Prestige Properties. The program is an informal one – cost is just $50 per year to get on the list. What a great, low-key way to get educated about the Pikes Peak region’s high-end home inventory! From a single family 7,000+ square foot home in Peregrine to a remodeled north-end treasure, the tour lasts two to three hours and provides great insight into what’s available at what price. I’d encourage realtors who like to sell in the $400,000+ category to join up. The lunch afterwards was great too – a real chance to network.
More Fidelity Deals from Ted Link
Ted Link facilitated the lease of medical space between tenant, Richard Harbison, M.D. and the landlord, Janet and John Lewis of J.L. Lewis Enterprises. According to Link, Dr. Harbison will open a bariatric clinic in conjunction with the Lewis’ physical therapy practice.
Link also represented the landlord, Center City Developers, on a 979 square-foot lease with Mortgage Solutions of America. The tenant was represented by Tom Miller of Freedom Real Estate.
PPCIE Change Likely
Good news from PPAR for all commercial realtors who have been using the Pikes Peak Commercial Information Exchange’s (PPCIE) Internet MLS service with some frustration. Tom Dermody of Colorado Commercial Properties headed the search for a better commercial property database and announced at last week’s RCIS meeting that the Pikes Peak Association of Realtors Board and staff have agreed to return to using the more familiar Commercial Search program. In a follow-up conversation with Dermody, he said that the deal is not finalized yet – pending assurance by Commercial Search that specific features required by local brokers will be available. “The key issue for brokers like me who use the Internet a great deal,” said Dermody, “is that we have connectivity with DENCAR (Denver’s Commercial Realtor Association), and that some formatting problems get worked out.” He also commended PPAR’s staff for its willingness to implement what local brokers want. “I know one of the staff’s concerns was that Commercial Search bills the brokers directly – and PPAR preferred to bill for the service.”
Mark Useman and Paul Engel recently facilitated both sides of the sale of 2.42 acres at 18965 Base Camp Road in Monument. Selling price for the property was $250,000. The buyer, Equity Custom Homes, Inc. will be developing a two building office/warehouse project on the site.
Useman also represented the buyer on the purchase of a 6,500 square-foot retail pad building at 4200 North Freeway in Pueblo. The facility will accommodate three tenants and was sold by Craddock Development Company. The buyers bought the property for an investment – sure beats an uncertain stock market!
More Transactions From Hoff & Leigh
Last week the Business Journal reported on numerous leases completed by Hoff & Leigh brokers – and here are a few more for the record.
Charlie Madson represented the owner or tenant on five additional transactions in April. Among those, he represented the tenant, Palm VID Video Cameras, on the lease of 2,349 square feet of retail space at 410 East Fillmore from Coolidge Redstone Equities, LLC. Chuck Armstrong of Hoff & Leigh represented the owner. In a second deal, New England Financial leased 375 sq. ft. of office space at 502 Security Boulevard, Suite 206, from UMB Bank Colorado. Donna Gough of the Case Company represented the tenant while Madson and Dana Stanecek of Hoff & Leigh represented the owner. Activation One leased 1437 sq. ft. of office space at 3105 North Hancock Avenue from Central Colorado Management. Dave Ankeney of Metro represented the owner and Madson represented the tenant. Madson also assisted tenant, Diamond Texturing, in leasing 1,750 square feet of industrial space at 3340 Adobe Court and represented the owner, EW Investments, LLC on the lease of 2,400 square feet of office space at 1826 East Platte Avenue, Suite 101, to First Allegiance Mortgage Corporation. Bob Telmosse handled the tenant’s side of the transaction.
In other Hoff & Leigh news, Curtis and Cynthia Haigler purchased the 13,328 sq. ft. retail and 2613 sq. ft. warehouse properties at 408-412 South Nevada from Devona Murray, according to listing brokers, Mike McDowell and Bill Becker of Hoff & Leigh. Selling price was $550,000. Ted Link of Fidelity Real Estate represented the Haiglers – and says that financing was provided by the Money Store.
Sara Welborn leased 175 sq. ft. of office space at 118 North Tejon Street, Suite 206, from Warren Dean. Bill Perry of Hoff & Leigh facilitated the transaction. In another transaction, Peak Vista Technology, LLC leased the 4591 sq. ft. office space at 5575 Tech Center Drive from Metropolitan Life Insurance Company. Greg Phaneuf of Palmer McAllister represented the owner and Perry represented the tenant. Perry also facilitated both sides of a lease for Front Range Real Estate Consultants, Inc. The company leased 800 sq. ft. of office space at 6208 Lehman Drive, Suites 311-312, from Go Real Estate Action Team.
Click Photography leased 268 sq. ft. of office space at 620 North Tejon Street from LoPresti Properties. Terry Vice of Hoff & Leigh represented the owner and Chuck Armstrong of Hoff & Leigh represented the tenant. Vice also represented the tenant in another lease. Isabelle and Richard Allen leased 517 sq. ft. of retail space from Old Colorado Square Ltd. Julie Strodtman of Fountain Colony represented the owner.
Shepherd of the Springs Lutheran Church leased 6200 sq. ft. of office space at 8595 Explorer Drive from Christian Missionary Alliance Church. Stan Kensinger of the Olive Group represented the owner and Tom Gallagher of Hoff & Leigh represented the tenant.
Grubb & Ellis Brokers Close Sales, Leases
Cameron Mogadam represented both the owner, Janitell Enterprises, and the tenant, Frances Eng, in the sale of a 5,373 square-foot retail facility at 319 N. Chelton Road. Selling price for the building was $492,500. The long-time Grubb & Ellis broker also represented the owner, Saks Building, LLC on the lease of 2,544 square feet of retail space to Johannes Hunter Jewelers.
A new Tastee Freez is scheduled at 4935 Austin Bluffs Parkway, according to Andrew Oyler of Grubb & Ellis, who represented the seller, First Union, in the transaction. Selling price for the existing 2,300 square-foot building was $510,000.
Last week, Lonnie Wagner represented the landlord and Dale Stamp represented the tenant on a 2,613 square-foot lease at 4760 Flintridge Drive. The new tenant, Evans, Dawson and Graf will relocate a psychiatric practice at the new address.