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Goodwill kicks off construction

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A 26,500-square-foot Goodwill retail store has broken ground on 4.3 acres west of Kohl’s department store, near the intersection of South Circle Drive and Janitell Road.
The retail center will replace Goodwill’s downtown store at Pikes Peak and Wahsatch avenues, which is scheduled to close later this year. Continue Reading Goodwill kicks off construction

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Roundup Foundation Inc. has purchased the office building at 2115-2125 E. La Salle St. from the City of Colorado Springs for $1.02 million.
The two-story, 15,617-square-foot office building was built during 1986.
Kent Mau and Brian Wagner of Sierra Commercial Real Estate represented the seller. Frank Bennett Tuck of NAI Highland Commercial Group LLC represented the buyer. Continue Reading Roundup Foundation purchases city-owned building for $1M

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The east commercial submarket is alive and well, based on multiple commercial building sales that have closed during the last three months.
One of the largest transactions was the $3.3 million sale of a 50,000-square-foot office warehouse facility in the Classic Business Park at 1775 S. Murray Blvd.
Randy Dowis and Bob Garner of NAI Highland Commercial Group represented both the buyer, Carleton Real Estate Partnership LLC, and the seller, BJP Real Estate Partnership LLC. Continue Reading Office warehouse building purchased for $3.3 million

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Before purchasing a home, it’s importance to choose “the right neighborhood” from communities within the same metropolitan area, at least based on research published in the Wall Street Journal.
Reporter Jeff Opdyke reported in a March 13 story, “Gauging Value in Real Estate as Prices Slide,” that there are often noticeable price differences between homes in different ZIP codes and neighborhoods. The discrepancies exist in cities throughout the nation. Continue Reading Community within a community median prices vary

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Fairfield will be Monument’s first hotel

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Olive Real Estate Group brokers Stan Kensinger and Jim DiBiase, along with veteran hotel developer Kevin Engelhardt, are finally moving forward on construction of an $8.5 million Fairfield Inn by Marriott limited service hotel in Monument — after more than a year in the planning.
CSNA Architects is the hotel’s designer and Colarelli Construction is the project’s general contractor. Continue Reading Fairfield will be Monument’s first hotel

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Within the next three years, up to 242 airmen and their families at Schriever Air Force Base will be able to live on base.
Construction includes new homes for service members of all ranks, a community center with indoor pool and other amenities.
Homes will range from 1,630 square feet to 4,000 square feet, each with a minimum of three bedrooms. Continue Reading Inaugural Schriever base housing work under way

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Independence Center begins work on new building

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Volunteers, and business and civic leaders turned out last week at 729 S. Tejon St., ready to break ground on a new Colorado Springs Independence Center facility.
The 20,000-square-foot, two-story, Southwestern-style building designed by Bryan Keys and Associates will be built by Ed Green Construction and will surpass most Americans with Disabilities Act requirements, said architect Vic Lauer. Continue Reading Independence Center begins work on new building

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Office condos attract individual investors

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Tim Leigh of Hoff & Leigh Real Estate and builder Mike Reeg, both principals in Canon Builders LLC, have found a niche in one of commercial real estate’s newest submarkets.
The partners recently completed the first phase of a $9.5 million, three-building Northgate Road office condominium development that will include 57,300 square feet, across from the Federal Express building.
A second 20,400-square-foot structure will break ground next month and is expected to be completed this fall. Continue Reading Office condos attract individual investors

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It’s a sign of the times. Bank-owned properties abound and, as a result, real estate brokers like Wil Szilagyi of Williams Homesellers, a division of Keller Williams Real Estate, are developing new ways to get them sold.
The broker has organized a weekly Saturday tour to market the properties.
Eight prospective buyers participated on Feb. 9. Two said they were investors. Continue Reading Weekly excursion: Broker sets aside Saturdays for repos

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Castle Rock partnership buys Rice center

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The Rice Shopping Center at 406-410 S. 8th St. has been purchased by the JAJA Family Limited Partnership of Castle Rock for $1.3 million.
The 16,262-square-foot retail center is 70 percent leased and includes a Captain D’s Restaurant and a Radio Shack.
The seller, Rice Properties Inc., was represented by Bob Cope of Front Range Commercial. The buyer was represented by Jonathan Ballard of Starbuck and Ballard of Denver. Continue Reading Castle Rock partnership buys Rice center

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