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Colorado Springs Commercial Real Estate
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Commercial Real Estate News
Ultra Petroleum to Relocate HQ to Metro Denver
Ultra Petroleum Corp., an oil and gas exploration and production company, will relocate its headquarters from Houston to Englewood, CO, the company said in filings made with the Securities and Exchange Commission this month. The company already maintains an office here, at 116 Inverness Dr. in Englewood. The space is slightly less than 37,000 square feet, according to CoStar data, but it is unclear if the space will be expanded or the office will...
New Distribution Facility Coming to Nexus Business Park
Becknell Industrial, along with Schuck Communities and CH Thompson Company, is building a 540,800-square-foot distribution facility for an unnamed manufacturing company in the Nexus at DIA master-planned business park in Commerce City, CO. Construction is underway now on the property, and is expected to be complete in the first quarter of 2019. Nexus at DIA is located near the intersection of Tower Road and East 81st Avenue. Becknell purchased...
Castle Rock - A Small Colorado Town Attracting Big Development
Pictured: Riverwalk, Confluence Cos.' $60 million mixed-use project currently under construction in downtown Castle Rock.The town that has long been a stop between Denver and Colorado Springs, CO for outlet shopping has become a development destination in its own right, with new projects of all kinds adding up to
Co-working Space on the Rise in Denver, By the Numbers
More than 50 co-working locations have opened in metro Denver since 2011. Including several imminent openings, the amount of co-working space added since 2011 has edged over one million square feet, fast approaching 1 percent of all occupied office space in the metro. This represents a rapid ascension for an industry that was essentially nonexistent until this cycle. Moreover, and as indicated by the graph below, almost all of this growth (more than...
Hub 25 Sells for $74 Million
Denver-based developer Westfield Co. has sold its Hub 25 development just over two years after announcing the project’s construction, according to a warranty deed filed in Adams County. An entity registered to the same New York address as J.P. Morgan Private Bank purchased the property for $74 million late last week, according to the deed. The property sold for about $176 per square foot, well above the market average for industrial space in the...
LoDo Towers' $189 Million Sale a Sign of the Times
Pictured: Guaranty Bank Building at 1331 17th St.The $189 million sale of two Lower Downtown office towers is the second-largest office trade in metro Denver so far in 2018, and fits into growing trends, including the re-sale of properties already sold once this cycle and high investor demand for renovated properties near transit. Chicago-based Zeller Realty Group sold the towers at 1331 and 1401 17th St., together called LoDo Towers, after a few...
Exclusive: LoDo Towers Sell to CIM Group
Pictured: 1401 17th St., one of two buildings that make up the LoDo Towers in Denver.Chicago-based Zeller Realty Group sold two office towers in downtown Denver to Los Angeles-based CIM Group for a total of $189 million, according to warranty deeds filed with the Denver County Clerk and Recorder Friday. CIM Group paid $103 million, or about $470 per square foot, for 1331 17th St. and $86 million, or about $449 per square foot, for 1401 17th...
Hotel Investor Interest in Denver is High, But... Supply Low
Pictured: Embassy Suites by Hilton Denver Downtown Convention Center.The Denver metropolitan area may be attracting increasing interest from national hotel buyers, industry experts say, but there’s a gap between demand and quality supply that keeps high-profile transactions from happening. A new survey by the Lodging Industry Investment Council, which represents companies controlling more than $40 billion worth of hospitality real estate, shows...
The Transit Factor in Amazon's HQ2 Selection Reflects Transportation's Growing Economic Development Clout
Pictured: 101 Main St. in Cambridge, MA, a 341,000-square-foot office property occupied by Amazon.In cities across America, weary locals have long complained that strained transportation networks were failing to keep pace with the rush of new development. Then, Amazon announced it would conduct a nationwide search for a place to locate a second headquarters. The very prospect of landing 50,000 jobs and 8 million square feet of office space quickly...
Denver's Commercial Real Estate Investment Market Off to Stronger Start Than 2017
Pictured: 1801 California in downtown Denver.The sale of a majority stake in Denver’s second-tallest office building helped propel the institutional investment market in the first quarter of 2018 to a much better start to the year than in 2017. The overall amount invested in four basic property types - office, multifamily, industrial and retail - in metropolitan Denver was $2.5 billion in the first quarter, compared with nearly $1.9 billion in...
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