Patience has been the key to arrival of spring here in Colorado. These past few weeks have given us 80-degree days followed by 6+ inches of snow. It is one of the many reasons to love Colorado. As the weather changes, the economy of the Springs continues to stay mostly healthy, though not as robust as the last two years. | |
COLLABORATION IN THE CITY FUELING GROWTH | |
Colorado Springs is becoming one of the most pro-business cities in the US, with supportive agencies offering programs to attract talent and boost workforce development. Colorado Springs is a collaborative environment suitable for any venture, from corporate headquarters to tech startups to small businesses, and it provides support through various programs and initiatives. The region offers numerous benefits to companies, including stable infrastructure for businesses, top-tier higher education institutions, and programs and incentives to boost business success. Contact Olive to see how your business can accelerate growth the Pikes Peak Region. Read the full article from Colorado Springs Chamber & EDC through the link below. | |
2023 DOWNTOWN ECONOMIC SNAPSHOT & PERFORMANCE INDICATORS | | |
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The annual State of Downtown Report was recently published by the Downtown Development Authority. It is an extensive report that is filled with valuable data, trends, and analysis, tailored specifically for investors, brokers, developers, retailers, civic leaders, and property owners, to assist them in making sound business decisions. Read the full report to learn more about what's happening in your city. | |
COLORADO SPRINGS MARKET UPDATE | |
Overall, the commercial real estate market in Colorado Springs is healthy and growing. The city has been experiencing steady economic growth and population growth, which has led to increased demand for commercial properties. This demand is driven by a variety of factors, including low unemployment, a strong job market, and a high quality of life. Below are a few key performance indicators according to CoStar: | |
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| MARKET RENT | MARKET SALE PRICE | VACANCY RATES | | RETAIL | $19.13 / SF | $213 / SF | 4.6% | | OFFICE | $23.49 / SF | $174 / SF | 8.2% | | INDUSTRIAL | $10.60 / SF | $137 / SF | 4.4% | | |
A PROPERTY MANAGER'S GUIDE TO LEADERSHIP:
SERVICE PROVIDERS
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The latest edition of "A Property Managers Guide to Leadership" features expert advice by Dave Hewett on fostering strong relationships with service providers, is available in the April issue of the Colorado Real Estate Journal. Don't miss out on the chance to read valuable advice on how to enhance your service provider affiliations. And while you're at it, be sure to also check out the previous editions on owner and tenant relationships.
A special thanks to all our wonderful vendors who take great care of our properties. The service providers we employ are the best in the business and ensure that our tenants have a quality building to provide for their needs and the needs of their clients. One of the integral pieces of keeping the cycle of property operations and tenant satisfaction at the highest level possible is our service provider community. THANKS for your commitment to our owners and tenants.
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Office Space For Sublease
Up to 14,302 SF of office space is available for sublease at Briargate Tech Center. 2375 Telstar Dr features an open floor plan, on-site server room, prominent building signage, ample parking, and 38 cubicles. The sublease is available now through 1/31/2027. Contact Alex Dumas or Jim DiBiase for more information.
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Industrial Space For Lease
4218 N Nevada Ave offers 9,987 SF available for lease. The property features two-stories, several offices, warehouse space with five overhead doors and 20' ceiling height. The property includes a 19,500 SF +/- fenced yard. Contact Mike Scruggs or Jeremy Shirley for more information.
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Olive is pleased to welcome Broadmoor Towne Center North Condominiums to our management portfolio. The property is a redevelopment of a former Sears store into a 3 unit Commercial Condominium with Magnum Shooting Center, Self-Storage, and Big R opening this year to serve the southwest market in Colorado Springs. Tammy Bannister will be the Association Manager.
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"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world." - Franklin D. Roosevelt | |
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Olive Real Estate is your one stop shop for all your commercial real estate needs.
We have a team of experts ready to help, so call us today. 719-598-3000
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