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Griffis/Blessing lands Academy Gateway deal

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Griffis/Blessing lands Academy Gateway deal

A Colorado Springs-based property management group will manage the Academy Gateway Retail Center near the intersection of North Academy Boulevard and Woodmen Road. Griffis/Blessing Inc. announced in a news release Thursday that the company will now manage the 28,285-square-foot shopping center at 7140-7190 North Academy Blvd. The leasing broker marketing the vacancy at Gateway center… Continue Reading Griffis/Blessing lands Academy Gateway deal

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Greccio, Family Life Services reach partnership

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Greccio, Family Life Services reach partnership

Greccio Housing and Family Life Services announced their partnership this week to bring additional housing to Colorado Springs. Family Life Services and its outreach ministry, Women of Courage, work to teach single mothers and their children life skills. Since 1990, Greccio Housing has specialized in developing and managing affordable multi-family apartments in Colorado Springs. Together,… Continue Reading Greccio, Family Life Services reach partnership

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New business model for real estate arrives in Springs

Grant Wise and his partners are bringing a different way of selling real estate to Colorado Springs. Wise Custom Realty is actively seeking Realtors in this area by offering a new business model that, Wise said, will result in more money in Realtors’ pockets. The end result for the consumer is no different than from… Continue Reading New business model for real estate arrives in Springs

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Realtors reach agreement with U.S. Department of Justice

Jana DeWitt and Kenneth Westfall, licensed real estate agents operating in Colorado Springs, paid the United States $93,500 in civil penalties to settle allegations that they engaged in deceptive conduct, violating the Financial Institutions Reform Recovery and Enforcement Act. According to the U.S. Department of Justice, DeWitt engaged in fraud in at least 17 bank-owned properties,… Continue Reading Realtors reach agreement with U.S. Department of Justice

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Year in review: Real estate

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August 27 Flying off the shelves If someone put a home on the market in Colorado Springs, chances are good it sold within two months. As of the end of June, single-family homes spent an average of 62 days on the market, the lowest number since June 2006, when the Pikes Peak Association of Realtors… Continue Reading Year in review: Real estate

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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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Historic Alamo Hotel building sells for $5.9 million

The historic four-story Alamo Hotel building in downtown Colorado Springs was recently purchased for $5.9 million by a local investor. Matterhorn Development LLC sold the 42,556-square-foot building, which was constructed around 1900, to Carlisle’s Alamo LLC. Matterhorn purchased the property in 2006 for just $200,000 less than the sale price. Cascade Commercial Group brokered the… Continue Reading Historic Alamo Hotel building sells for $5.9 million

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Sierra’s recap – positive yet uncertain

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Sierra’s recap – positive yet uncertain

Sierra Commercial Real Estate’s annual Colorado Springs Market Outlook, released Tuesday, shows positive indicators of market growth and health from the past year while conveying the uncertainty — yet hope — for continued reinvigoration. “As 2013 begins to wind down, it is apparent that there has been a slight shift in the regional marketplace with… Continue Reading Sierra’s recap – positive yet uncertain

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Griffis/Blessing group buys Ridgepointe

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Griffis/Blessing group buys Ridgepointe

A Colorado Springs-based real estate investment group recently purchased Ridgepointe at Gleneagle Apartments for $30.3 million. Griffis/Blessing Inc. finalized the purchase of the 240-unit property on Dec. 3 with $22.5 million in financing from Freddie Mac and the remaining $8 million in investor equity, according to Chief Investment Officer Gary Winegar. The property is located… Continue Reading Griffis/Blessing group buys Ridgepointe

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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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