Colorado Springs Real Estate Transactions – June 21, 2002

Last week I received notice (as did most RCIS members) from Andy Oyler at Grubb & Ellis Quantum Commercial of “wants and needs.” Don’t you love it? Even in a slowed commercial real estate market, there are always clients looking for a diamond in the rough or a good property in a key location. It kind of renews one’s faith in the market, n’est-ce pas? By the way, Oyler is seeking a downtown office/retail building for one customer and 1,000 to 1,500 square feet of Class A (preferably) office space in the North Academy and Union area.

Nichols & Comito Celebration Home Tours
With the warm weather, great mortgage rates and a strong housing market in bloom, Nichols & Comito Luxury Homes announces the kick-off of the 2002 Celebration Home Tour. The annual public opening was preceded by a sneak preview fundraiser benefiting the American Cancer Society on Thursday, June 20. More than 225 supporters turned out for the event, which marks Nichols & Comito’s fifth successful home tour. Visitors may tour the 8500-square-foot Colorado-inspired home on its magnificent two-acre-plus lot, featuring stone floors, custom woodwork and cabinetry, a state-of-the-art home theater/entertainment center and an open, inviting floor plan. Tours are offered each Thursday through Sunday between the hours of 10 a.m. and 6 p.m. from June 21 through July 7, says Phyllis McCoy, Nichols & Comito marketing director.
According to Larry Nichols, the company has raised more than $50,000 over the past few years for organizations such as the American Cancer Society, the HBA’s The Way Home affordable housing program and for the Junior League of Colorado Springs. “The Celebration Home has been a win-win for us and for the community,” Nichols said. It has also provided the opportunity to showcase the one-to two-acre estate lots at Stratton Preserve. Concurrent with the opening of the Celebration Home and with Stratton Preserve fast approaching sellout, partners Claude Comito and Nichols will announce their next project: Stratton Pines. Update to come…
Save the Date for AIBD Conference
Mary Gilland of architect, Larry Gilland & Associates’ office, recently brought an upcoming statewide meeting of the American Institute of Building Design professionals to the CSBJ’s attention. According to Gilland, the Colorado chapter of this active national association will host its first conference at The Broadmoor Hotel from July 3-7. Larry Gilland has been nominated to serve as the organization’s president. Membership includes professional building designers, both residential and commercial.

Transaction Report

Grubb & Ellis Quantum Commercial’s Swintz Seals Deals
George Swintz, CCIM, is on a roll with two new leases and two sales to report. The office/commercial specialist represented owner, Platte Airpark Development, LLC on the lease of 37,500 square feet of office space at 440 N. Wooten Road, Building B in May. The facility’s new tenant is the SY Technology, represented by Denver firm, Liberty Greenfield Real Estate Advisors. SY develops technology used by the military.
In another Swintz transaction, Science Park II, LLC leased 22,546 square feet to Integral Systems, Inc., a government contract firm. Swintz represented the owner and Candy Seaton of Coldwell Banker Commercial Front Range represented the tenant.
Doug Malmgren of America 2000 represented the buyer, Jayson Borgen, on the purchase of a 4,100-square-foot industrially-zoned building at 3580 Chelton Loop North. George Swintz of Grubb & Ellis Quantum represented the owner, John and Roger Boyles, on the $230,000 sale.
Finally, as reported last month, Swintz brought the buyer, United Restaurant Supply, Inc. and Jim Spittler of NAI Highland Commercial represented the owner, Clark Place, Ltd. on the sale of 2.11 acres of land at 725 Clark Place. Selling price for the parcel was $160,845.

Office Market Sizzles at Palmer McAllister
Not to be outdone, Kent Mau at Palmer McAllister, a Frederick Ross Company represented property owners on five leases reported in June. Mau and Greg Phaneuf teamed on four of those transactions.
The Mau-Phaneuf team represented the Utah State Retirement Fund on a 6,341 square feet lease renewal in the Alamo Corporate Center to First Union Wachovia, represented by NAI Highland. Mau and Phaneuf also facilitated a 3,359-square-foot lease renewal for telecommunications firm, Williams Communications in the Alamo Corporate Center.
They also represented owner, Met Life (headquartered in White Plains, N.Y.) and the tenant, Cisco Systems on a 7,738-square-foot lease renewal at 5575 Tech Center Drive, Building VI.
Finally, Mau and Phaneuf represented the owner, Met Life, and the tenant, Envoy (a religious corporation), on a 1,000-square-foot lease at 5575 Tech Center Drive that was finalized on June 11.
In other Palmer McAllister transactions, Andy Lindquist and Kent Mau represented owner, Memorial Hospital, on the lease of 4,487 square feet of space to new tenant, Colorado Hearing and Balance Clinic, represented by NAI Highland Commercial. The clinic will relocate to its new space this fall.

NAI Highland team turns in May/June sales, leases
Peter Scoville facilitated a 2,342 square foot office lease at 4815 List Drive, representing the landlord (along with colleague, John Onstott) and the tenant. The lessee, Steve Johnson, is opening a new Mass Mutual Insurance Agency in Colorado Springs.
Scoville and NAI Highland’s Randy Dowis also represented the tenant, Salem Communications, a radio company, on the relocation to 5,452 square feet of office space at 7150 Campus Drive in the Woodmen Corporate Center. Mike Matkin and Randy Miller fo Trammel Crow represented the landlord on the transaction.
The DISH Network signed a new lease in May for 2,216 square feet of industrial space in the Omaha Business Park at 1481 Tuskegee. Randy Dowis represented the owner, and a broker from Coldwell Banker Commercial (likely that was Jay Carlson or Clint Darnell) represented the tenant who is opening a new location in Colorado Springs.
Randy Dowis also teamed with Bob Garner of NAI Highland Commercial to represent the owner on a $1.2 million sale of a 25,000 square feet parcel at 720 Garden of the Gods Road. The purchaser, Delphi Investments, was represented by Bob Hoff, principal in Hoff & Leigh. RBM, the building’s current tenant will continue to lease space from the new owner.
The southwest corner of Powers and Airport Road will be the site of a new McDonald’s Restaurant, thanks to Jim Spittler of NAI Highland Commercial, who represented the owner and to Scott Gray, Bentley Hill and Chris Barnett, formerly of Sullivan-Hayes who represented the buyer. Spittler reports that the new restaurant is the second user in the 12.75 acre retail development – joining Loaf N’ Jug at this prime location. Sales price on the 58,549 square foot site was $549,000. Not bad for a day’s work. Gray (now part of The Retail Group over at Olive Real Estate) has extensive background in finding new sites for McDonald’s and the Chipolte Grill.
More to come next week along with a news-packed Blueprints special section…