Colorado Springs Real Estate Briefs: August 24, 2007

With more than 84,000 vehicles a day passing by, the remodeled Mission Trace Shopping Center at Hancock Expressway and South Academy Boulevard has attracted a number of new retail and restaurant tenants.

Purchased by the Craddock Development Co. last year, the center is in the final stages of improvements to building exteriors and landscaping. Project manager Matt Craddock said the majority of buildings have been renovated, with two additional sites ready for either a build-to-suit or renovation.

The company's in-house architect, Michael Murray, designed the retail center's overall southwestern mission style theme.

Cornerstone Commercial brokers Scott Gray and John Simons represented the company and the tenants in the following lease transactions, signed since the privately funded project began.

Your Personal Assistant, 3107 S. Academy Blvd., which offers packing and shipping services, mail box rentals and gift wrap, has leased 1,990 square feet.

Moving Supplies Are Us has leased 1,606 square feet at 3121 S. Academy Blvd. for its U-Haul rentals, moving supplies, custom T- shirt printing and embroidering business.

Creative Kids College has expanded into more than 9,100 square feet at 3223 S. Academy Blvd. The day care provides services for children up to 14 and is owned by Terry Smith.

The Alternate Source has returned to its former location at 3265 S. Academy Blvd., leasing 6,631 square feet. The business opened in1986 and offers consumer electronics and home furnishings.

Sight, Sound and Security has leased 2,090 square feet at 3269 S. Academy Blvd. The retailer sells high-end home entertainment systems and security products.

Two Dog Tavern owners Dan and Bonnie Allen will open a bar and grill at 3113 S. Academy Blvd. in early September. They leased 2,984 square feet.

Craddock also said renovations have begun on two buildings comprising more than 120,000 square feet. Work is scheduled to be completed by January.

Two industrial deals

Jones Heartz Lime Co., a stucco and manufactured stone producer, has leased a 12,700 office-warehouse building with about an acre for outside storage at 2645 Durango Drive.

The Denver-based firm also operates a plaster and distribution facility at 540 E. Cimarron St. and formerly ran a manufactured stone business at 645 Ford St.

"We'll be growing our business, combining some distribution with the stone operation on Durango," said owner Cordon McClurg. The company employs seven people in Colorado Springs and has stores in store in Denver, Loveland, Carbondale and Grand Junction.

John Rodgers and Andrew Madden of Grubb & Ellis Quantum Commercial Group represented the tenant and Doug Malmgren of Brian Douglas Properties represented the landlord, K.C. Enterprises and Investment LLC.

Rodgers and Madden also represented the buyer, SAG LLC, a tool and mobile supply company on the purchase of about an acre of land at 5940 Paonia Court.

The $457,000 transaction included the purchase of a 5,000-square- foot warehouse and a 2,000-square-foot butler building.

The landlord, Rick Powers, was represented by Charley Conrad of the Olive Real Estate Group.

Prime land purchased

Platte Valley LLC, owned by Ron Waldthausen, has purchased 10.09 acres near the intersection of Platte Avenue and Powers Boulevard from the Hy Power Co. for just under $1 million.

The parcel is bordered by Terminal Avenue to the north, Valley Street to the east, Highway 24 to the south and Amelia Street to the west.

Steve Bach and Mike Helwege represented both the buyer and the seller.

New mortgage office

Countrywide Home Loans Inc. has leased 5,530 square feet in the Powers Professional Center II, 6160 Tutt Boulevard.

Gary Hollenbeck of Palmer McAllister and the Frederick Ross Co. represented the tenant, and Ted Link and Brian Norton of Cascade Commercial Group represented the landlord, Powers Professional Campus 2 LLC.

Becky Hurley covers real estate for the Colorado Springs Business Journal.

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