GREETINGS FROM THE OLIVE TEAM! | |
Quarter 2 was very busy for Olive. We celebrated the ribbon cutting of a completed hotel, the groundbreaking for a new hotel, closed 11 sale transactions totaling over $43M, signed 8 new property management agreements, brought on 2 new brokers, and won 2 Best in Business awards. 2022 continues to be a great year for Olive! | |
Olive celebrated two monumental events in June. A Ribbon Cutting ceremony for the new Dual Brand Marriott hotel in Downtown Colorado Springs and a Groundbreaking ceremony for a Residence Inn by Marriott by the Colorado Springs Airport. Jim DiBiase, a Principal at Olive, partnered with Hotel Equities, Colarelli Construction, and Hotel Operations Services to develop these stunning and unique hotels. The Residence Inn by Marriott will be the first hospitality development at the COS Airport and is a much needed addition to the airport area, which has seen a huge increase in enplanements with the recent addition of Southwest Airlines. Find out more about the Residence Inn and Dual Brand Marriott on our website. | |
The Colorado Springs Market is thriving and has seen tremendous growth. The following table displays the current market conditions and year over year percentage change. To find out more, read the full market reports for Office, Industrial, and Retail properties on our website. All market data is provided by CoStar Group. | |
| Property Type | Market Rent/SF | Market Sale/SF | Vacancy Rate | Under Construction | Inventory SF | | Office | $23.45
(+6.0%) | $173 (+8.4%) | 9.4% (-0.3%) | 143K SF (-68.6%) | 30.5M
(+1.5%) | | Industrial | $10.21
(+6.93%) | $129 (+13.8%) | 5.0%
(+.17%) | 111K SF (-97.7%) | 41.7M (+11.94%) | | Retail | $18.47 (+4.1%) | $204 (+8.1%) | 4.3% (-1.5%) | 373K SF (+65.29%) | 43.9M (+0.3%) | | |
MEET OLIVE'S NEWEST BROKER: ED BAUR | |
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Ed Baur recently joined Olive Real Estate as a commercial broker. Prior to joining Olive, Ed was the managing partner at the Colorado Springs Lexus Dealership. He spent the last 15 years in the automobile business conducting market research with the manufacturer, determining the ideal location for future growth and strategic acquisition of properties. All of which supported a logical transition to Commercial Real Estate. Ed has built a solid foundation of clients in this community through his attention to detail, problem-solving mindset and real-world perspective. We're excited to welcome Ed to our team. Read his bio to find out more.
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The votes are in and Olive Real Estate was voted as the #1 Best Commercial Real Estate Brokerage Firm and #2 Best Commercial Property Management Firm. The Dual Brand SpringHill Suites by Marriott and Element by Westin hotel developed by Jim DiBiase was also voted as the #1 Best Urban Redevelopment Project. We are honored to receive these awards. We always strive to be the best for our clients and our community! Thank you to everyone who voted. | |
Medical Office For Lease
Paul Rubley & Jim DiBiase have a new listing at 1550 Pulsar Dr. The former AMC Movie Theater is currently being renovated as a medical office building. Space is available for lease ranging from 1,530 to 3,200 SF. The suites feature high ceilings and brand new construction. The property and project is also managed by Olive. View the full listing here.
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Office/Warehouse For Lease
Jeremy Shirley and Mike Scruggs have a new listing at 121 E Bijou St. Office with warehouse space is available for lease featuring exposed ceilings, original brickwork, storefront glass wall, heavy foot traffic, private offices and a large warehouse with an overhead door. The 4,320 SF space is offered for lease at $20/SF + NNN. View the full listing here.
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Steve Hunsinger represented the seller of the former Tap House restaurant and bar, located at 815-817 W Colorado Ave. The 3,189 SF building sold for $1,300,000. | |
Alex Dumas represented the Seller in the successful sale of a 7,648 SF office building located at 321 S Tejon St for $2,000,000. The property, originally only offered for lease, was under contract for sale in under 30 days. | |
We are pleased to welcome 11681 Progress Lane, a 17,500 SF industrial building located in Parker, CO. Mike Scruggs recently represented the buyer of the property, a current management client, and Olive was able to obtain the management contract for this property after the sale. | |
We are pleased to welcome two new residential Associations to our management portfolio, Dublin Manor and Camelback Village Condominium Associations. Dublin Manor is a 64-unit residential condo complex. Camelback Village is comprised of 63 individually owned condominiums. | |
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The Summer Concert Series at University Village Colorado is back this year. The free summer concert series runs from June 3rd through August 5, every Friday evening from 7:00-9:00 PM at the North Plaza of UVC next to Hacienda Colorado. View the full line-up on the UVC website here.
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Olive has been hosting Olive's Food Truck Round Up for over a year now. Every week we have a food truck come out to 1 of 2 locations to serve up lunch for our staff, tenants and owners. We welcome everyone though! Check out the summer line up and come on over for some yummy food from a local food truck. View line-up | |
"Building Community in Colorado Springs" | |
Do you have a property that you would like to sell or lease? Do you have a property that you need professionally managed or would like to find out how to make your building more sustainable? We have a team of experts ready to help so call us today. 719-598-3000 | |
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