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Report: Apartment vacancy drops, rents rise

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While Colorado Springs apartment vacancy rates fell in the second quarter, rents increased. Apartment Insights, a quarterly apartment market report put together by apartment broker Doug Carter at Sperry Van Ness, reported a city-wide vacancy rate of 6.38 percent. The average rent increased $7 from the first quarter to $747 per unit. Rent citywide is… Continue Reading Report: Apartment vacancy drops, rents rise

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LLX Central Development purchased the 110-unit Amber Ridge Apartments at 2963 E. Bijou St. late last month. The Denver company paid $3.13 million for the property, built in 1995. It was originally constructed as the second phase of the 90-unit Cottonwood Park complex. The Amber Ridge complex was a stable 95-percent leased complex at the… Continue Reading Denver company buys another Springs apartment complex

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A year after purchasing the distressed Chapel Hills Mall, owners are refinancing the property and selling off outparcels like the Jimmy John’s and Olive Garden properties. Continue Reading Chapel Hills Mall selling real estate, refinancing

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Downtown nightclub owners Sam and Kathy Guadagnoli have backed out of plans to expand the Gasoline Alley bar into a vacant next-door building at 26 N. Tejon St. The couple was eyeing the vacant building, situated between Gasoline Alley and Blondies/Red Martini at 22 N. Tejon St., an were under contract to purchase it. They… Continue Reading Guadagnolis back away from Gasoline Alley expansion

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  A gauge of Americans who signed contracts to buy homes fell in April from nearly a two-year high in the previous month.   Even with the decline, sales are well ahead of last year’s level for the same month, suggesting the housing market is improving slowly.   The National Association of Realtors said Wednesday… Continue Reading Sales contracts for US homes dropped in April

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Big R to build big box store in Monument

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Big R, a ranching and outdoor gear store, is expected to break ground on a 34,000-square-foot retail box store in south Monument in the next couple weeks. Mark Useman, senior managing director at Sierra Commercial Real Estate, sold a 10-acre plot at the northeast corner of Struthers Road and Spanish Bit Drive to the retailer.… Continue Reading Big R to build big box store in Monument

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Kum & Go, a national chain of service stations, will anchor a new four-acre shopping center across the street from the Sky Sox Stadium. Mark Useman, senior managing director at Sierra Commercial Real Estate, said he is marketing the new Shoppes at the Ball Park for Vista Equity Group. Kum & Go is the first… Continue Reading New commercial center to break ground across from Sky Sox

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The foreclosure rate in Colorado Springs dropped year-over-year in March from 1.71 percent in 2011 to 1.39 percent of all outstanding mortgages this year, according to a CoreLogic report. CoreLogic, a real estate analytics firm, releases monthly data about foreclosures. The foreclosure rate in Colorado Springs was significantly lower than the national rate of 3.41… Continue Reading Report: Foreclosures, mortgage delinquencies down

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Century Communities is re-launching a condominium community it put on hold when the real estate market collapsed in 2008. The Greenwood Village-based builder has pulled building permits for a 22-unit condo building at the Vistas at Nor’Wood, which was master-planned to include a 110-unit condominium complex. The builder finished its first 22-unit building near the… Continue Reading Builder returning to Vistas at Nor’wood condo project

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Oakwood Homes of Colorado was expected to complete its purchase of 2,200 acres in Banning Lewis Ranch this week and is eager to let the building begin. Continue Reading Oakwood ready for Banning Lewis home construction

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