Colorado Springs Real Estate Briefs: June 4, 2004

Some big announcements broke at the end of May, promising June will be a busy month, along with presidential speeches at the Air Force Academy, new household formations with the tons of weddings around town, and locals adopting flowerbeds to keep the city pretty. Thanks to all who make sure CSBJ stays in the loop.

DeVry University announced it will break ground this summer for a new facility at 1175 Kelly Johnson Blvd. Located on four acres, groundbreaking is schedule for July, with classes set to begin in mid- 2005. The 17,500 square foot center will include 13 classrooms, two lecture/computer labs and an academic support center.

We are very excited about this new center, said Timothy Campagna, president of DeVry University/Colorado. It will allow DeVry to continue offering a high-quality educational experience at the undergraduate and graduate levels to residents in the greater Colorado Springs region. DeVry offers career-oriented undergrad programs in business, technology and management as well as graduate programs through Keller Graduate School of Management. DeVry has 49,000 students enrolled nationwide.

Counseling and training expands

J.E. Dunn Construction Co. and Community Education Centers broke ground in May for the Cheyenne Mountain Re-Entry Center at 2925 E. Las Vegas St. J.E. Dunn Group, the fourth-largest builder of correctional facilities in the nation, will construct a 128,033- square-foot medium-security facility that focuses on counseling and training for pre-release offenders and parole violators. We look forward to achieving Community Education Center's vision for this facility and will focus on meeting the June 2005 completion, said Marty Rickett, project manager. The center will provide 780-beds and treatment and education services that focus on changing addictive and criminal behaviors. J.E. Dunn Construction Co. has offices in Colorado Springs and also is building the El Paso County Jail Expansion, a $90 million, six-story, 864-bed addition to the Criminal Justice Center.

Sales and leasing activity quickens

Steven Hunsinger, Olive Real Estate Group, facilitated both sides of the leasing of 5,760 square feet at 6975 N. Academy Blvd. for Check City as it opened its first office in Colorado Springs. Check City offers loan, tax preparation and other financial services.

Boulder Equity Partners LLC purchased a building at 1725 E. Boulder St. for $1.8 million from City of Colorado Springs. Tim Leigh, Hoff & Leigh Real Estate, brokered both sides of the deal. Hoff & Leigh also reported activity on several other fronts including a 1,284 square foot lease for retail space to Consider It Sold, an electronic and asset sales firm from landlord Dave and Mary Campbell. Tim and Steve Leigh were agents for the landlord and tenants. Brian Norton, also of Hoff & Leigh, helped. Tim and Steve Leigh also partnered as lister and leasing agents for 700 square feet at 3120 Beacon St., unit C for landlord DFHL LLC. Craig Buist rented the space and will sell wholesale paint products.

Big Dog Landscaping and Lawn Care has taken 3,575 square feet at 627 W. Polk St from landlord Richard Kohlhaas and Tim Leigh also brokered both sides, with the help of Lester Colodny of Hoff & Leigh on the listing side. Layton Truck Equipment, a parking and equipment storage business, leased 24,000 square feet at 2420 E. Bijou St. from Lynn Brown Cresciman. Bill Perry was listing agent and Bob Hoff the tenant agent, both of Hoff & Leigh.

Don Erickson, Hoff & Leigh, helped both sides of the sale of a 3,415 square foot office building in Fountain at 466 Highway 85-87. Steven R. Bohnen purchased the office for $220,000 from Gerold J. and Georgia Schramek. Steve Leigh worked both sides of a leasing deal for 1,850 square feet at 614 N. Nevada Ave., Suite 101, with Tim Leigh assisting the tenant, Deercreek Investing LLC from Historic Properties of Colorado Springs Inc. for this office space.

Tim and Steve teamed up for landlord Anthony S. Maud in brokering a deal for John and Lilie Barnes for a new church home at 5735 Industrial Place in 2,117 square feet. Al Pedersen, Hoff & Leigh, represented the new tenants. A 2,000 square foot industrial space at 310 Karen Lane recently was leased by American Lenders Service of Colorado Springs, a company specializing in repossessions, from the Gerlind Hicks Family Trust. Tim Leigh acted as listing agent and Lester Colodny, also of Hoff & Leigh, represented the tenants

Internet shoppers

Residential Realtors and home builders take note: Women dominate Internet shopping for homes, according to a survey released by American Home Guides. The survey said that online buyers are diverse, independent and motivated, plus they don't rely on real estate agents very much. The typical on-line shopper spent only one to three hours per week online, looking for a purchase in three months in the $100,000 to $250,000 range. This shopper was typically a women aged 26 to 35 with a household income of $50,000 to $100,000.

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