With the pandemic in the rear view mirror now, businesses are opening back up at full capacity and we are seeing everyone's smiling faces again.

"Like most markets, Colorado Springs' retail sector is being hit hard and seeing an unprecedented number of job losses. A record -450,000 SF vacated in Q3 2020, although absorption has turned positive in each quarter since."

"The average asking rent in Colorado Springs is about 30% below the average in the Denver metro area."

"Most of the development underway is either near Downtown, or in the rapidly growing northern part of the metro. These parts of the metro boast high (or rising) population density, relatively high incomes, and - especially in North Colorado Springs, proximity to Denver." (Source: CoStar 2021)

Read the full Retail Market Report generated by CoStar. Colorado Springs Retail Market Report

Forbes recently published an article about the new developments underway in Downtown to support the expanding demographics of Colorado Springs. Projections are showing our city will outpace Denver by year 2050. Colorado Springs is attracting millennials at a higher rate than any other U.S. city.

Forbes Article Link

Tammy Bannister joined the team in March of 2021 as a commercial property and association manager. Tammy came to Olive with experience managing residential, commercial and industrial properties as well as a strong background managing associations. We are pleased to have Tammy's experience in all sectors of management services.

Tammy is originally from Nebraska and a graduate of Newman University where she earned her MBA. Tammy lives in Colorado Springs with her husband, four cats and dog.

Please join us in welcoming Tammy to the team!

Thanks to the diversity of our team's experience, Olive Real Estate Group recently signed a new management contract for a Residential Association as well as a management contract for an Industrial Business Center.

Iron Horse Villas Townhome

Homeowners Association

New Management Contract

The Silver Creek Center

4735-4745 Town Center Drive

New Management Contract

Salsa on the Rock Fresh Mexican Grill, is our Tenant in the Spotlight this month. Here's a word from the Owner/Operator, Scott Morrissey.

"When I moved back to Colorado Springs in the early 2000’s, my young daughter always wanted to go to the restaurant with a parrot on the sign out front. Two decades later I would be the proud owner of that very same restaurant! We are a family-owned restaurant, with parrots for my daughter and pictures on the wall of our family and our “Salsa” family, too. 

The people of this community have been great this past year! Their support got us through one of the most difficult times of our life. We owe each and every person who comes through our door a huge thank you! 

Our menu is constantly evolving, the quality of our food will always be a priority, and our staff will treat you like family!"

Be sure to check out Salsa on the Rock this month located at 802 Village Center Drive in Colorado Springs. Salsa on the Rock

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