MARCH NEWSLETTER

If the snow would only stop here in Colorado Springs, we might all believe Spring is almost here! The city is set for big changes as we will elect a new Mayor, replacing an 8 year veteran who has done a great job leading our city. Local elections are coming up on April 4th so remember to vote for the new Mayor and keep our city strong. Find out who and what are on the ballot on the City Clerk's website. HERE

BUILDING PERFORMANCE COLORADO

The Building Performance Colorado (BPC) requirement for reporting energy usage is now in full force for buildings over 50,000 square feet in size. The goal of BPC is to increase energy efficiency and decrease greenhouse gas emissions in the building sector. We have complied with the registration requirements for the buildings in our portfolio and will now start the annual reporting process for each building. We believe this is step one and soon the requirement will go to all buildings over 25,000 square feet in size. Find out more about Building Performance Colorado standards on the Colorado Energy Office Website below.

DOWNTOWN ANNUAL REPORT

Downtown Partnership and its family of organizations continues to ensure that our Downtown shines brightly, and serves as the economic, civic and cultural heart of the Pikes Peak Region. The 2022 Annual Report to the Community highlights all the great things that happened Downtown in 2022.

Here's a few of the highlights:

Downtown Ventures launched the Cultural Corridor
AdAmAn Alley was completed
Over $2 billion was in the development pipeline
SpringHill Suites and Element hotel opened at the corner of Costilla and Tejon St.
The historic "Sacred Cloth" rainbow flag hung over City Hall in honor of those killed in the Club Q shooting.

2022 ANNUAL DOWNTOWN REPORT

2022 POWER BROKER AWARDS

CoStar annual Power Broker awards were recently announced and Olive was named a Top Sales Firm and a Top Leasing Firm for deals completed during 2022 in the Colorado Springs market. Two of our brokers were also named a Top Broker, Alex Dumas is a Top Sales Broker and Charley Conrad is a Top Industrial Leasing Broker. We are honored to be recognized again this year and to contribute to the growth of our community.

NEW LISTINGS

Medical Office Space For Lease

3,363 SF of Class A medical office space is available for lease in the the Audubon Medical Campus. 2960 N Circle Dr., suite 100 features 7 exam rooms, private offices, and a large lobby and reception area. This is a great opportunity to join a prominent medical campus surrounded by a variety of medical specialties. Contact Alex Dumas for more information.

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Land For Sale

6.18 acres is now available for sale or built-to-suit near the Colorado Springs airport. Located within an Opportunity, Enterprise, and CAZ Zone, this property is eligible for tax savings and incentives making it an attractive option for a buyer. Sale price is $2,225,000 ($8.27 SF). Zoning: PIP2/CR, UV, AO. Contact Jim Justus for more information.

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Retail / Tavern Space For Lease

1106 N Circle Dr is available for lease. The property is 1,761 SF and features a full bar, plenty of seating, and a pool/game area. This is a great opportunity for a new tenant to take advantage of the established neighborhood tavern location. Contact Ed Baur for more information.

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Office Condo For Sale

2501 W. Colorado Avenue, Suite 11 is a 1,140 SF second story office condo located at Old Town Plaza in the heart of historic Old Colorado City. The building is a mix of office and retail condos. Sale price is $175,000 ($153.51 SF). Contact Steve Hunsinger for more information.

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NEW MANAGEMENT CONTRACTS

Welcome our newest property to our management portfolio. 6215 Corporate Drive is a 12,975 SF office building. The new owner just purchased the building and retained Olive for property management. Tammy Bannister will be the property manager.

"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

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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