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It’s taken four years and three different ownership groups, but the Mining Exchange building and its neighbors, the Freedom Telegraph, Independence and Municipal Utilities buildings, are ready to be transformed into a 150-room “boutique” hotel and conference center.
That is, as long as the city leaders approve key sales tax-sharing provisions. Continue Reading Mining Exchange hotel developer ready to transform downtown

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Repositioning of former PetCo building under way

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Increased retail closings or lease defaults have spurred repositioning efforts and marketing creativity on the part of some building owners. A former PetCo store at 5720 N. Academy Blvd in the Berkshire Center, for example, was purchased during 1993 by a Pebble Beach, Calif., investor for $775,000. The pet supply company’s 12,558-square-foot lease ran out… Continue Reading Repositioning of former PetCo building under way

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Amenities of the rich and famous

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Finding a management team that shares the owners’ vision on a project such as converting the Mining Exchange and its neighboring buildings into a boutique hotel is not an easy task. Anticipating that challenge, co-owner Perry Sanders hired Tyler Sherman, the former operations manager at Denver’s Hotel Teatro. “We’ll begin marketing the hotel and conference… Continue Reading Amenities of the rich and famous

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D&B Precision Products makes major purchase

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D&B Precision Products purchased this two-building complex for $1.2 million. A growing family owned company, D&B Precision Products, has purchased a 20,250-square-foot, two-building manufacturing facility at 55, 65, 75 and 85 Mount View Lane for $1.2 million. The seller, M.C. Leasing LLLP, was represented by Mike Helwege and Steve Bach of Bach Real Estate Partners.… Continue Reading D&B Precision Products makes major purchase

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Some real estate transactions defy otherwise cloudy economic forecasts. Take golf courses for example. This week, Escalante Golf, the general partner and ownership group for the Pine Creek Golf Club and other “boutique” golf clubs throughout the country, announced that it has acquired the Country Club of the North in Dayton, Ohio, from Oak Tree… Continue Reading Springs-based Escalante Golf adds to boutique portfolio

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It must be the season for real estate companies to reallocate, relocate and revamp their line-ups and strategies. At least two companies made real estate history this month. Take ERA Shields Real Estate’s recent acquisition of Stuart Scott Ltd, for example. Bill Hurt began his career as a broker with Cres and Mary Shields during… Continue Reading ERA Shields Real Estate, Stuart Scott Ltd. join forces

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Two bank-owned foreclosure properties have been purchased by a partnership group that includes Greccio Housing, Partners in Housing and Rocky Mountain Community Land Trust. The purchases were made possible by federal Housing and Urban Development Neighborhood Stabilization Program grants. The partnership purchased Bentley Commons for $1.7 million from Bank of the West. The property, at… Continue Reading Greccio adds to multifamily portfolio with foreclosure purchases

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A 211,000-square-foot lease renewal is always news, but this time it’s a headline-maker for stakeholders of the downtown business community. Houston-based El Paso Corp.– Western Pipeline (and its predecessor, Colorado Interstate Gas Co.) has been a tenant in the Colorado Square Building at 2 N. Nevada Ave. since shortly after the structure was built during… Continue Reading El Paso Corp. decides to retain downtown digs

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With July 2009 construction spending down more than 10 percent compared to a year ago, only manufacturing and power projects have seen a year-over-year up-tick, according to the Census Bureau. As a result, the market for residential and commercial subcontractor services has contracted as well. But two companies are refusing to take the recession sitting… Continue Reading Recessionary chutzpah: Two subcontractors get creative

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A local development partnership will break ground this month on a $3.2 million restaurant and bar just west of the Hollywood Theater and planned Renaissance Hotel off Interquest Parkway. The 6,500-square-foot Colorado Mountain Brewery, with more than 3,000 square feet of outside patio dining space, is designed for casual and family dining and will feature… Continue Reading Colorado Mountain Brewery ready for take-off at Interquest

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