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With the Hollywood Theater grand opening behind them, Interquest Marketplace partners Nor’Wood Development and Classic Cos. have closed on the $2.17 million sale of a 5.3-acre parcel planned to accommodate a 49,500-square-foot-plus Brunswick Zone XL entertainment center.
Mike Dolski, vice president of strategic development for Brunswick Zone, said the new family entertainment center will include 38 bowling lanes, Continue Reading Brunswick purchases Interquest Parkway parcel

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An 8,900-square-foot commercial building on 2.77 acres overlooking downtown Colorado Springs soon will become a destination for local wedding parties and special event planners.
The single-story structure was purchased for $1.45 million last month by an investor-management group, the Yellen Family Partnership LLLP, which also operates The Pinery in Black Forest. Continue Reading Fish Market prepares for new life as wedding, events venue

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A 16,000-square-foot industrial condominium space in the former Safetran Building at 1485 Garden of the Gods Road has been purchased by JKR Properties LLC for $990,000. But that’s only part of the story.
Thanks to a $1,500 start-up loan Creative Impressions founder Janet Romsos got in 1989, she was able to stair-step her company’s growth, culminating with this latest purchase. Continue Reading Creative Impressions expands headquarters with minimal move

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The market for commercial real estate is alive and well — at least based on news from Claremont Business Park.
Joe Grossi of Hammers Construction reports that four new properties were leased or sold during April and May.
The companies included Alan’s Automotive and Diesel Repair, which leased 5,000 square feet at 1415 Woolsey Heights; Continue Reading Hammers flying right and left at Claremont Business Park

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The Rustic Hills Showcase Shopping Center at 1330-1360 N. Academy Blvd. has been purchased by Madison Realty Investors of Littleton for $1.45 million.
The 29,131-square-foot retail center was built during the 1980s and sold for below replacement cost, said Tom Dermody of Sperry Van Ness, who represented the seller. The buyers represented themselves. Continue Reading Littleton investor groups buys North Academy shopping center

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Plasmon’s decision to move into the new Corporate Office Properties Trust’s Hybrid II building off Federal Drive supports the need for continued commercial development — even during a slower market, according to at least two commercial brokers.
Sierra Commercial Real Estate’s Kent Mau said that the local market “exhibits strength but cannot play the cycle out without additional space.” Continue Reading Does the Springs need more commercial development?

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At a time when national homebuilders have all but abandoned the Pikes Peak region’s new home market, one local company is bucking the trend.
Longtime housing and building executive Ron Covington has opened Ron Covington Homes as a new division of LandCo Equity Partners, in which he is also a principal.
Last September, Covington, who had served as Colorado Springs area president for John Laing Homes, decided to leave the company to start his own operation. Continue Reading Covington, LandCo join forces to launch homes’ project

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A Denver investor is in the process of building a $9 million, three-building business flex and garage storage unit complex on 5.6 acres just south of Woodmen Road, near the intersection of Powers on Tutt boulevards and just south of the new St. Francis Medical Center.
The Tutt Business Center will include 22 business flex units, ranging in size from 1,500 to 2,200 square feet, as well as 36 garage storage units for sale. Continue Reading Tutt Business Center will include flex units, storage garages

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Minco building purchased for $2.2 million

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A 50,000-square-foot industrial and manufacturing building that houses the Minco Manufacturing operation has been purchased by GB2 855 Aeroplaza LLC for $2.2 million.
Randy Dowis and Jim Spittler Jr. of NAI Highland Commercial Group, represented the buyer and seller.
The transaction is almost a case of history repeating itself. During 1995, the brokers sold the property to the owners of C.S. Products Corp. which, in turn, founded Minco Manufacturing. Continue Reading Minco building purchased for $2.2 million

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Two northeast Colorado Springs apartment complexes that were built during the 1980s have been purchased by a Washington state investor for $25.8 million.
The sale of the 224-unit Epernay Apartments at 2915 Woodland Hills Drive and the 136-unit Quail Run Apartments at 1690 Dublin Blvd. was handled by David Potarf, Dan Woodward and Jordan Robbins, all of Marcus & Millichap in Denver. Continue Reading Epernay, Quail Run purchased by Washington investor

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