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Palo Verde Apartments purchased

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The Palo Verde Apartments have been purchased for $3 million by Carefree Partners LLC.
The 72-unit complex is at 175 N. Murray Blvd.
Tammy Gilbert, president of First Properties Inc. handled both sides of the transaction. The seller was the Colorado Housing and Finance Authority, which had owned the property since 1992.
Carefree Partners also owns the Lincoln Springs apartments in the Pikes Peak region. Continue Reading Palo Verde Apartments purchased

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Benet Hill sold for $4.75 million

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The board of directors of the Colorado Springs Charter Academy has purchased most of the Benet Hill Monastery at 2555 and 2560 N. Chelton Road for $4.75 million.
The school acquired the two-story school building, the gym, tennis courts and play field. Benet Hill Monastery retained a chapel and several single-family homes.
Glenn Miller, president of the board of directors, said the school had leased the property for almost three years. Continue Reading Benet Hill sold for $4.75 million

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A tenant-in-common investment partnership that includes the Griffis Group, Griffis Blessing, Seagate Properties and Gruber Properties has sold its interest in the 196-unit Garden Terrace Apartments to Capital Real Estate of Denver for $9 million.
“This was a Griffis Blessing investment — and one of the properties they had held the longest. Continue Reading Garden Terrace apartment community purchased by Denver-based investor

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Parade of Homes kicks off

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Every year, the Housing and Building Association of Colorado Springs’ Parade of Homes tantalizes the community with fresh new home design and décor. This year will be no exception.
The event opens this weekend and will include 29 homes on two main sites at Flying Horse and Banning Lewis Ranch, as well as 16 homes on individual scattered lots.
Twelve of the homes are priced at $1 million or more, and two are priced at more than $4 million. Continue Reading Parade of Homes kicks off

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Redeveloped Village Marketplace under way

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Formerly a “woody walk-up,” according to California owners Roberts and Melanie Pedrick, a 40,000-square-foot retail center on the northwest corner of Vickers Drive and North Academy Boulevard is embarking on a full-fledged transformation.
The Pedricks hired land planners from NES Inc. and architect Jerry Burns of Architrilogy to design the renovation. Continue Reading Redeveloped Village Marketplace under way

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Grubb & Ellis/Quantum Commercial Group and Vision Development, a division of Colorado Structures Inc., are working on a $4 million Class A office building at the corner of Jackson Creek Parkway and Leather Chaps Drive, just east of Interstate 25. Continue Reading Work under way on Monument’s Jackson Creek office center

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Winters Industrial Park adds first owner

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Taking advantage of a chance to build near the new North Nevada Avenue Costco and University Village redevelopment, Damon Winters, owner of Winters Electric Inc., just took possession of 3,000 square feet in the Winters Industrial Park at 139 Winters Drive.
The 4,500-square-foot main level and mezzanine industrial condo was purchased for $435,000. Continue Reading Winters Industrial Park adds first owner

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The Pikes Peak region seems to be attracting its share of national fitness and health club chains.
Life Time Fitness has purchased 14 acres off North Powers Boulevard and Briargate Parkway, just south of Lowes and near Memorial Hospital North, for $4.8 million. The company plans to build 210,000-square-foot facility on the property.
Christian Gile of Cameron Butcher Commercial Real Estate represented Life Time Fitness. Continue Reading Construction set to begin on city’s first Life Time

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Builder/Architect magazine is featuring the Cougar Canyon golf course and master-planned community as a cover story in its summer issue.
The Jack Nicklaus-designed golf links, banked by the Sangre de Cristo mountain range and adjoined by an Energy Star-rated Cougar Homes development, is attracting prospects from as far away as California and as nearby as Pueblo and Santa Fe, N.M. Continue Reading Cougar Canyon golf course receives national press (20098)

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Celebration Home opens doors July 10

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Designed as a benefit for Pikes Peak United Way, this year’s Celebration Home kickoff event will provide a preview of one of the area’s most exclusive estate homes, built for a local family by Nichols & Comito in the prestigious Stratton Preserve. Continue Reading Celebration Home opens doors July 10

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