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Year in review: Commercial real estate

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Year in review: Commercial real estate

Commercial real estate The past year has brought optimism. Vacancy rates are down across the board, supply and demand are beginning to turn the economic tide and the year has been marked by several newsworthy transactions. These pieces highlight some trends and shine light on the underpinnings of a few of Colorado Springs’ most lucrative… Continue Reading Year in review: Commercial real estate

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No one showed up Wednesday morning to bid on the Antlers Hilton at the El Paso County Public Trustee foreclosure sale, so the property was sold to the lender for less than what was owed. The Antlers property had a deficiency of $3.6 million, and $38 million was the final amount the beneficiary paid for… Continue Reading Antlers sold to lender at public trustee sale

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Locals buy Garden of the Gods Club

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The Garden of the Gods Club announced Tuesday that an investment group operated by two local women has purchased the historic facility, which had been on the market since June. Colorado Springs residents Brenda Smith and Judy Mackey are the new owners of the club, making this the first time it has been locally owned… Continue Reading Locals buy Garden of the Gods Club

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Local firm breaks ground in Castle Rock contract

The two concrete tilt-up structures will house the offices of entrepreneur Tim Dumler’s Larkspur-based Off the Chain LLC and are scheduled to be completed in June 2014, according to the release. Bryan Construction will also conduct all other work related to the Caprice Court site, including utilities, over-lot and landscaping. Documents from the Douglas County… Continue Reading Local firm breaks ground in Castle Rock contract

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Toni & Guy Academy plans move to central Springs

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The Toni & Guy Hairdressing Academy is moving from its far south Colorado Springs location into a three-story building at Union and Academy boulevards. The move allows the academy to double its space to nearly 18,000 square feet, and give the school a more campus-like feel, said Sandy Chandler, academy owner and director. The academy… Continue Reading Toni & Guy Academy plans move to central Springs

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Office vacancies remain high in the newly constructed buildings on the north end of Colorado Springs. Both Hoff & Leigh Commercial Real Estate and Sierra Commercial Real Estate released their second quarter reports this week and while the statistics varied, both documented high vacancy rates in commercial office space in the northern part of the… Continue Reading Glut of office buildings plaguing northern market

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Commercial real estate broker Tim Leigh announced today he is withdrawing from the Colorado Springs’ mayor’s race, saying the city needs someone who could make a “singular, full-time commitment” to the job and that he was sticking with real estate. His decision leaves two candidates vying for the office: neighborhood advocate Dave Munger and defense… Continue Reading Candidate Leigh pulls out of mayor’s race

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Retail center adds new dimension

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Pastor Barry Farah had a dream: to attract a congregation to an accessible, highly visible location with plenty of room to grow.
The site he identified for his Springs Calvary church was a 23,000-square-foot space on two levels at Tiffany Square, on the southwest corner of the Woodmen Road interchange off Interstate 25.
The church would occupy a former movie theater space and would include a large auditorium, a youth ministries area and mezzanine, complete with infant and toddler areas. Walls were to be removed to open the sanctuary to accommodate up to 550 people, with room for up to 500 more. Continue Reading Retail center adds new dimension

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Norris-Penrose Event Center gets new look

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One of Colorado Springs’ favorite venues is undergoing a $2 million makeover and expansion – and that’s just the beginning, officials say.
Managed by the city and El Paso County for the past 30 years, the former Penrose Equestrian Center has catered primarily to rodeo events, concerts, Oktoberfest, home shows, automotive shows and to horse owners, providing facilities for equestrian sports, stabling, riding lessons and boarding since its construction in 1974. Continue Reading Norris-Penrose Event Center gets new look

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Serious buyers take title insurance seriously

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Title insurance is one of the issues that must be dealt with when purchasing a building. Unfortunately, a vast majority of buyers just throw the title commitment in the file without as much as a cursory review.
That is probably not the best course of action for the serious buyer.
The reason the title commitments are dismissed so quickly out of hand is that it looks like Greek. In reality, they are very easy to navigate. It just takes a little time to review them and make sense of what is written. Continue Reading Serious buyers take title insurance seriously

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