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Wealth of office space forcing low rents

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Last year’s departure of Quantum’s manufacturing operation, downsizing at MCI and Intel as well as a shake-out in the dot.com industry has left its legacy in sublease space. The glut of vacant, but leased office and industrial space exceeds 1.3 million square feet in second quarter 2002 – pushing overall vacancies to an eight-year high.… Continue Reading Wealth of office space forcing low rents

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Calling for private citizen and business community participation to build a better Colorado Springs, City Manager Lorne Kramer addressed a receptive audience of 200 Economic Development Corporation (EDC) members, politicians, nonprofit leaders and media representatives on Thursday, July 11 at the Colorado Hall. On hand for the event were new Deputy City Manager, Dave Nickerson… Continue Reading City Manager outlines key issues for community heavy-hitters

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Real Estate Briefs July 12, 2002

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High-end buyers are still snapping up executive home sites along the Front Range like crazy. In spite of a slow national economy, luxury communities like Stratton Preserve, Stratton Pines, Stratton Forest, The Spires, University Park, Pine Creek, Cedar Heights and The Broadmoor Resort Community, for example, are recovering nicely from the fall 2001 down market.… Continue Reading Real Estate Briefs July 12, 2002

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Those that attended the June 19 RCIS luncheon were treated to not one, but two high quality presenters. Colorado Springs-based sports psychologist and counselor, Dr. Gayle Davis, described how to hang tough through an uncertain market, and explained how to avoid negative “self-talk” (not that any of us ever experience the temptation…). David Seamon, EDC’s… Continue Reading Colorado Springs Real Estate Transactions – July 8, 2002

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When a prime piece of real estate became available in downtown Old Colorado City, Kaye and David Caster didn’t hesitate purchasing it.Ironically, fire destroyed the old building, which once served as the town’s fire station, police department and jail. In later years, the building was a gift shop with apartments on the top floor. The… Continue Reading Old Colorado City bed and breakfast was built with comfort in mind

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Construction Briefs June 28, 2002

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Big retail contributed big wads of money to local construction, according to permits filed with the Pikes Peak Regional Building Department. Wal-Mart pulled permits to build its nearly $9 million, 208,433-square-foot store at 1575 Space Center Dr. And Target pulled permits for a $1.7 million remodel of its store at 335 N. Academy Blvd. Colorado… Continue Reading Construction Briefs June 28, 2002

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A June 19 Colorado Office of State Planning and Budgeting economic forecast sees continued slowing in residential and nonresidential construction throughout this year and into 2003 — with a more dire look than previous forecasts. State economists reported residential construction down 9.4 percent in April from April 2001 and nonresidential construction, excluding public projects like… Continue Reading State forecasters see delayed construction recovery

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Colorado Spring’s FirTree Apartments at 3835 Radiant Dr. was the first property to receive certification in the Colorado Springs Police Department’s Crime Free Multi-Housing Program. Conducted in partnership with the Apartment Association of Colorado Springs, the program trains rental-property owners, apartment managers, leasing agents, maintenance staff and other personnel in how to stop illegal activities… Continue Reading Police, Apartment Assn. certify crime-free housing

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Johnny Nolan, a popular long-time bar manager of the Ritz Grill, has opened his own new restaurant and tavern called SouthSide Johnny’s. Nolan, along with partners Dave Lux and Luke Travins, owners of Concept Restaurants, said they have developed a new model for the lower area of downtown Colorado Springs. SouthSide Johnny’s features a full… Continue Reading Big city tavern calls a historic trolley car warehouse home

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Last week I received notice (as did most RCIS members) from Andy Oyler at Grubb & Ellis Quantum Commercial of “wants and needs.” Don’t you love it? Even in a slowed commercial real estate market, there are always clients looking for a diamond in the rough or a good property in a key location. It… Continue Reading Colorado Springs Real Estate Transactions – June 21, 2002

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