GREETINGS FROM THE OLIVE TEAM!

Welcome to Summer! At least that is what the calendar says, here in the Springs we are still not sure what season it is. Recently we got more than a foot of snow in parts of the local area. We are excited to see how this summer treats our city. There's lots of activity happening here at Olive, enjoy this month’s newsletter.

GRAND OPENING!!

SPRINGHILL SUITES & ELEMENT

The biggest hotel built in Colorado Springs since Great Wolf Lodge in 2016 just opened. The new SpringHill Suites by Marriott and Element by Westin in beautiful Downtown Colorado Springs just opened!! Jim DiBiase with Olive partnered with Colarelli Construction, Hotel Operation Services, and Hotel Equities to turn a blighted street corner into a top notch 261 room hotel. We are so proud of Jim DiBiase for developing this much needed addition to Downtown which will generate $25 million to $30 million in economic activity each year. Read the recent CSBJ article or watch Jim give a tour on Fox Living Local to learn more.

The eight-story Marriott property features an upscale restaurant called Lumen8 Rooftop Social, interior courtyard, indoor pool, fitness center, underground parking, 4,200 square feet of meeting space and countless other amenities. Check out the restaurant and book your next stay here!

HOMELESS OUTREACH TEAM

Our property managers recently met with the CSPD Homeless Outreach Team (H.O.T.) to discuss issues regarding homelessness in the city. The goal of the meeting was to create a relationship with the team and work together to help make our properties safer for our tenants and reduce crime. This was a very informative meeting and we are eager to work together with CSPD.

COS CREEK PLAN

The Fountain Creek Watershed program recently announced the COS Creek plan which lays out a comprehensive plan to restore the Creek’s environmental qualities, promote economic vitality, and to greatly enhance and expand the recreational opportunities of the creek. Olive is a long-standing supporter of the Fountain Creek Watershed. View the entire plan and give your feedback on the COS Creek Plan website.

2021 POWER BROKER AWARDS

CoStar released the Power Broker award winners for Quarter 1 of 2022 and SIX Olive brokers were recognized for completing the TOP deals in the Colorado Springs market. Congratulations brokers for an outstanding quarter! Read the full deal commentary on our website.

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NEW LISTINGS

Mike Scruggs & Jeremy Shirley have a new listing at 1025-1029 Sierra Madre St featuring both warehouse and office space. This 9,443 SF property is offered for sale at $1.6M and has 6,290 SF available for lease. The property has overhead doors and is just minutes from Downtown and I-25. View the full listing here.

Chris Shirley has a new listing at 1785 S Eighth St. Located in the busy Cheyenne Plaza Shopping Center, this retail property has 22,135 SF available for lease at $11.00 PSF + NNN. The property is professionally managed by Olive Real Estate. View the full listing here.

NOTABLE TRANSACTIONS

Jim DiBiase and Alex Dumas represented the buyer, KKTV, in the purchase of 7250 Campus Drive, the former ENT headquarters building. The 74,290 SF property sold for $11,250,000.

Paul Rubley and Jim DiBiase represented the Seller, Circle Holdings, in the sale of 2860 S Circle Drive. The 82,590 SF value-add office building sold for $3,500,000.

MANAGEMENT CONTRACTS

We are pleased to welcome 3440 N Carefree Circle to our Management Portfolio. The property is a 19,600 SF multi-tenant retail property. In addition to the property management contract, Olive will also be providing project management for the new owners which includes exterior renovations and upgrades to the building.

We are pleased to welcome 9348 Grand Cordera Parkway to our Management Portfolio. The property is a ~50,000 SF Class A Office building. Olive will be providing Facilities Management services to the building owners. Olive already manages the association that the building is a part of, and the owners of this building were pleased with the services that Tammy Bannister and the Olive team have provided and asked us to provide these additional services for them as property owners.

CONCERTS & FOOD TRUCKS

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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.

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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