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Rent up, no vacancy: Young folks just want to move downtown

As a young, single and freshly transplanted Coloradan, I’m no stranger to the woes of apartment hunting — as well as the dread of paying subsequent rent and utility bills. The Apartment Association of Southern Colorado released earlier this month its third-quarter “Colorado Springs Metro Area Apartment Vacancy and Rent Study,” which noted that our… Continue Reading Rent up, no vacancy: Young folks just want to move downtown

Recovery continues for commercial market

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The higher you go, the farther you fall, as the old adage goes. While commercial real estate data depict slow progress in recovery from recession-era lows, the region remains in better shape than hard-hit areas in states such as California and Florida, where real estate bubbles caused catastrophic crashes. That said, the commercial real estate… Continue Reading Recovery continues for commercial market

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One of the state’s fastest-growing real estate companies just opened an office in Colorado Springs. Continue Reading Fast-growing Echo Summit extends its reach to the Springs

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The commercial real estate market might be down, but it’s not out. In fact, financial analysts have increasingly recommended commercial property as a key component of conservative portfolios with growth potential.
Their rationale: Lower interest rates are driving cap rates up — very attractive to investors with the cash. Continue Reading Calif. investors believe in deal that wasn’t even there

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Strategic Health Care, a Tennessee-based mental health care provider for geriatric patients, has subleased 8,000 square feet in the former Odyssey Hospice building.
The new 22-bed facility will be the company’s fifth location in the United States. According to Tammila Wright, a broker with Keller Williams Commercial, who represented the landlord and the tenant, the company has found a ready market for its specialized service. Continue Reading Strategic Health Care moves into former hospice space

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Vote of confidence in recovering housing market

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In the “good news” category, two area home builders are planning additional models, banking on an improving home sales market during 2009.
Vantage Homes will open its Monterey II European cottage-style model in Cordera at 4872 Turquoise Lake Court next spring. The three bedroom-plus-loft home will include Energy Star and Built Green features, as well as “move-up” amenities like a gourmet kitchen with butler’s pantry, entertainment area and hardwood floors. Continue Reading Vote of confidence in recovering housing market

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The Research Corporate Center offices at 8610 Explorer Drive were impressive, and the Front Range views were spectacular, but that said, NAI Highland Commercial Group’s six owner-members decided to move back downtown to 2 North Cascade Ave., Suite 300, said spokeswoman Bonnie Nuss.
The commercial brokerage left downtown two-and-a-half years ago in favor of Class A offices on the city’s fast-growing north side. Continue Reading NAI Highland Commercial returns to its downtown Springs roots

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University Village to break ground in December

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First phase construction on six multi-tenant buildings planned for a 650,000-square-foot University Village retail center on North Nevada Ave. is scheduled to kick-off Dec.12, according to Kevin Kratt of Kratt Commercial Real Estate.
“In addition to Costco which opens in August 2009, we also still expect Lowe’s and Kohl’s to be ready to go by October,” he said, adding that new retail tenants will likely include names like Panera Bread Co., which plans to open the company’s fifth local store. Continue Reading University Village to break ground in December

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Manitou construction inconvenience short term

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As Manitou Springs prepares to enter phase 5A of a three-year facelift to its downtown, Economic Development Director Kitty Clemens has alerted local merchants to some possible construction-related obstruction in the area.
“The burial of overhead power lines and streetscape improvements for Manitou Avenue will continue as … the downtown revitalization project resumes in the 900 block of Manitou Avenue the first week of January 2009,” she said. Continue Reading Manitou construction inconvenience short term

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In spite of the less-than-optimistic national retail trends, leasing and development continues an upswing along the north Powers Boulevard corridor.
“Retail has slowed, but there’s always interest in good locations from strong tenants,” said Patrick Kerscher of Southwestern Commercial Properties.
The Plaza at Stetson Hills shopping center, for example, will break ground before the end of the year, with tenant move-ins expected by July. Continue Reading Retail destination on tap for Stetson Hills/Powers intersection

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