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Less than a year away from completion, the $60 million, 300-room Renaissance Hotel on Interquest Parkway is beginning to take shape. On a site tour last week, the CSBJ learned that groups are already booking room nights in anticipation of the hotel’s opening next spring. “We’ve already had a lot of calls from people wanting… Continue Reading New Renaissance Hotel taking shape

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Two million dollar commercial deals closed

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They don’t happen every day. In fact, since the recession began, million dollar deals have become the exception rather than the rule — except during the past few weeks when two high-dollar deals were closed. Peak Commercial Properties broker John Rodgers contacted the CSBJ with news of a significant industrial building sale at 6035 Galley… Continue Reading Two million dollar commercial deals closed

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From the firm’s new headquarters on South 8th Street, John Egan, president of Southwestern Commercial Properties, took a few minutes to provide an overview of an ever-changing and sometimes challenging real estate development market. Among his top picks for the next round of new neighborhood and destination retail centers were the town of Monument, neighborhoods… Continue Reading Monument, Falcon lead likely development rebound list

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In a major coup for the Pikes Peak region, USA Discounters, a Virginia-based company that “sells everything under the sun from furniture to jewelry to electronics” and caters to a military clientele with 14 markets throughout the country, has leased 50,000 square feet of retail space at the Mission Trace Shopping Center. The Colorado Springs… Continue Reading USA Discounters setting up shop at Mission Trace

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Charter school leases move-in ready space

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Once again former office/warehouse space will be transformed into an academic center. Atlas Preparatory School, a new charter school in Harrison School District 2, has leased 28,780 square feet at Airport Park, 1602-1628 S. Murray Blvd. The same location had been used for 10 years by the James Irwin Charter School, a plus for the… Continue Reading Charter school leases move-in ready space

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The northeast quadrant of Colorado Springs might have reached the medical office saturation point during the past 18 months, but that doesn’t mean activity has stalled completely. Healthcare Realty Trust, investors in the two-building Briargate Medical on Briargate Parkway, across from Memorial Hospital North, announced last week that the newly completed campus will soon welcome… Continue Reading Northeast continues to draw medical providers

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Golden Properties LLC has purchased the former CVS/Longs Drugs store at 1730 Dublin Blvd. for $2.6 million. Rich Walker of First Properties represented the buyer and Cory Dulberg of the Zall Co. in Denver represented the seller. The 27,634-square-foot building will be occupied by Sunflower Farmers Market, which signed a 10-year lease and is scheduled… Continue Reading New owner of former drug store fills space quickly

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Perhaps as a result of historically high foreclosure rates, tight credit or a slow residential resale market, an increasing number of homes – and some commercial buildings – are now being offered for rent. As a result, property management companies are forming to handle the workload Dominion alliance ‘hands on’ Dominion Property Management, a partnership… Continue Reading Property management companies springing up, flourishing

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Ranch news

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Actor Val Kilmer of “Batman Forever” and “Top Gun” fame has listed his 5,970-acre Pecos River Ranch in New Mexico with Colorado Springs-based Orvis/Cushman & Wakefield for $33 million. Thirty-five minutes southeast of Santa Fe, the 5,330 deeded and 640 leased acres are adjacent to the Santa Fe National Forest and include almost six miles… Continue Reading Ranch news

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Could it finally be that area home builders might come out from under the economic black cloud that’s hovered over the industry since 2007? Ralph Braden, president of the Colorado Springs Housing and Building Association and vice president of Nor’Wood Development, thinks so. Based on an NAHB economic forecast during a webcast last week, he… Continue Reading Signs of recovery have builders increasingly optimistic

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