Colorado Springs Real Estate Briefs: April 20, 2007

Since the first of the year, six apartment properties have sold in the Pikes Peak region. Two of the most recent transactions include mid-size complexes, both built in 1969.

The Amber Meadows apartments were purchased by Evette & Monna LLC for $1.5 million. The 41-unit property is near the airport and Fort Carson, at 107 and 119 S. University Drive.

Doug Carter of Sperry Van Ness represented the seller, Colorado Springs-based RCRM Investments LLC. Charlie Martin of C.T. Martin LLC represented the buyer.

Carter also represented the buyer and the seller on the $3.2 million sale of the Broadmoor Park Terrace Apartments.

The 58-unit mid-rise complex at 920 Arcturus Drive was purchased by Kirkland, Wash.-based Weidner Investments, which owns several other apartment communities in the Pikes Peak region. The seller was the Sierra Group BPT of Whitefish, Mont.

Transaction report

Colorado Cabinet Coatings has leased 2,000 square feet at 3340 Adobe. The Grubb & Ellis Quantum Commercial team of John Rodgers and Andrew Madden represented the tenant and John Onstott of NAI Highland Commercial Group represented the landlord, Calco Investments.

Rebecca Johnston, a licensed aesthetician, has leased 1,400 square feet at 110 1/2 S. Tejon St. Bill Perry of Fidelity Real Estate represented the landlord, Delight Properties and the tenant.

T.C. Door and Trim has leased 1,200 square feet of warehouse space at 3109 N. Cascade Ave, No.102. The tenant was represented by Buddy Rutherford of Fidelity Real Estate and the landlord was represented by Gil Price of Kent Properties.

Factory Window Outlet will open a 3,250-square-foot warehouse/ manufacturing operation at 929-931 E. Fillmore. St. Lester Colodny and Cory Meaker of Hoff & Leigh Real Estate represented the owner, Shoup Management Co. and J.B. Isaac of Walker Asset Management represented the tenant.

Suzie and Young Park have leased 2,200 square feet of office space at 1785 N. Academy Blvd., Suite 120. Greg Rodriguez of Stewart Realty LLC represented the tenant and Steve Leigh of Hoff & Leigh represented the owner, Juda Properties.

The Ace Cash Express Co. has leased 1,984 square feet of retail space at 3925 N. Academy Blvd. Lester Colodny represented the owner, Mike Bonicelli, and Cory Meaker represented the tenant.

Follow-up to Centennial extension news

From Craig Blewitt, director of the transportation division of the city's planning and community development department, comes more news about a potential Centennial Boulevard extension.

Although property owners along the future roadway appear motivated to finish their portion of the street from Fillmore to Fontanero, Blewitt sees some potential hurdles.

One of those is the extension's ranking as a category "C" capital improvement project on the Pikes Peak Rural Transportation Authority's list of voter-approved priorities. For the street to function as a thoroughfare, it would have to be built to full standard dimensions as a minor arterial in order to keep drivers from cutting through private neighborhoods to get access to Interstate 25 from Centennial, Blewitt said.

"There's approximately 2,000 feet of property owned in part by the city and some by a private owner with no plans for development. In order to complete that section, the city will have to find additional money," Blewitt said.

Copyright 2007 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.