Tim Leigh’s Friday Market Report
Hoff & Leigh, Inc.
4445 Northpark Drive, Suite 200
Colorado Springs, CO 80907
August 29, 2008
Attached is our complete listing of all properties for sale in Colorado Springs, based on property type - office, industrial and condo. This is the most complete listing that we are aware of. It’s our goal to provide this information, updated weekly. We develop these lists by basic research and cross-checking data points from the PPCIE, local broker's individual web sites, The Turner Book and any other public information domain we can find.
You are receiving this information because, at some point, you asked or a friend referred your name to be included in our e-mail Insider’s List. If you no longer wish to receive this information, send an e-mail reply to me (tim@hoffleigh.com) and ask to be removed. Alternatively, if you know someone who could benefit from the receipt of this information, forward this e-mail to them, and suggest they contact us, so we can consider adding them to our exclusive list.
All Market Average Office Building Sale Price PSF = $111.66
There are currently 136 office buildings for sale (1 more than last week – 8 new listings in previous 3 weeks).
This is 1,346,763 square feet, which represents a total market value of $150,384,593.
All Market Average Industrial Building Sale Price PSF = $70.46
There are currently 96 industrial buildings for sale (0 more than last week – 6 new listings in previous 3 weeks).
This is 1,741,524 square feet, which represents a total market value of $122,707,925.
All Market Average Office Condo Sale Price PSF = $160.02
There are currently 93 office condos for sale. (This represents no change from last week).
This is 190,122 square feet, which represents a total market value of $30,422,617.
Interior build-outs for shell space ranges between $50 to $100 psf.
All Market Average Industrial Condo Sale Price PSF = $83.01
The market segment has been performing so slowly that we have temporarily dropped tracking it. There have been no changes in the past few months.
Here’s some interesting: office buildings which recently sold for the lowest price & highest price:
Address - Size - Sold Price - Assessor’s Value - Price PSF
2210 La Salle - 13,645 - $685,000 - $731,500 - $50.20
273 West Highway 105 - 7,200 - $1,375,000 - $256,710 - $190.97
*Check out the differences in the assessor’s value.
These are the lowest price and the highest price office buildings for sale in the market:
Address - Size - Asking Price - Price PSF
3645 Jeannine Drive - 47,596 - $1,650,000 - $ 34.67
516 West Bijou Street - 3,500 - $799,000 - $228.29
Here are the warehouse buildings which recently sold for the lowest price and the highest price:
Address - Size - Sold Price - Assessor’s Value - Price PSF
3147 Century - 22,780 - $570,000 - $1,005,300 - $25.02 2441
North Union Blvd - 1,732 - $350,000 - $228,590 - $202.08
These are the lowest price and the highest price warehouse buildings for sale in the market:
Address - Size - Asking Price - Price PSF
601 Las Vegas Street - 6,349 - $230,000 - $36.23
531 North 30th Street - 1,213 - $350,000 - $288.54
Political Commentary: Just in case you were contemplating a vote for the democratic nominee, read what he has written about himself. These quotes are taken from his book, “From Dreams of My Father”
“I ceased to advertise my mother's race at the age of 12, when I began to suspect that by doing so I was ingratiating myself to whites. . . . I will stand with the Muslims should the political winds shift in an ugly direction.”
If you need further reasons to vote for and promote McCain, think taxes:
MCCAIN proposes no change in existing home sale tax.
OBAMA proposes a 28% tax on the profit from any home sale.
Ramification: If you sell your home and make a profit, under Obama’s plan, you would pay 28% of your gain on taxes. If you’re heading toward retirement and want to down-size or move into a retirement community, 28% of the money you make from the sale of your home will go to taxes.
MCCAIN proposes no change in the 15% dividend tax.
OBAMA proposes a 39.6% tax on all dividends.
Ramification: If you have money invested in stocks, IRAs, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, under Obama’s plan, you would pay nearly 40% of your dividend earnings in taxes.
MCCAIN proposes no change in the income tax.
OBAMA proposes a reversion to pre-Bush tax cuts.
Under the Obama plan, high earners would pay a lot more in income tax. (Think almost double.)
NEW TAXES PROPOSED BY OBAMA
1.) Taxes on homes that are more than 2,400 square feet.
2.) New gasoline taxes
3.) New taxes on natural resources consumption (heating gas, water, electricity)
Non-Profit Highlight: As most of you know, we host a NO ASK non-profit awareness function each quarter. This quarter, the Tri-Lakes Chamber of Commerce and Hoff & Leigh is pleased to host The American Red Cross.
What: A “no-ask awareness function to showcase the Red Cross
When: September 25, 2008 ~ 5:00-7:00 p.m.
Where: 13570 Meadowgrass ~ Colorado Springs, CO 80921
Half mile off I-25 and Gleneagle
What: You will enjoy a private tour of the Northgate Pointe office condos ~
Wine: Wine tasting by Carneros della Notte of Napa Valley, Dave Harmon, Vinter
Food: Heavy hors d’oeuvres ~
Entertainment: Live entertainment by International Music Syndicate
Sponsored by: Neighborhood Lending
If you’d like to come, we’d love to see you.
Please RSVP to RD Trinidad
719-630-2277 ~ RD@Hoffleigh.com
I hope you had a profitable week and next week is better!
Sincerely,
TJL
Tim Leigh
719-337-9551
Tim@HoffLeigh.com
To view our Office Matrix List please click below
http://hoffleigh.com/OfficeInsider.aspx
To view our Industrial Matrix List please click below
http://hoffleigh.com/IndustrialInsider.aspx
To view our Office Condo Matrix please click below
http://hoffleigh.com/HLIOfficeCondos.aspx
These are the lowest price and the highest price office buildings for sale in the market:
Address - Size - Asking Price - Price PSF
3645 Jeannine Drive - 47,596 - $1,650,000 - $ 34.67
516 West Bijou Street - 3,500 - $799,000 - $228.29
Here are the warehouse buildings which recently sold for the lowest price and the highest price:
Address - Size - Sold Price - Assessor’s Value - Price PSF
3147 Century - 22,780 - $570,000 - $1,005,300 - $25.02 2441
North Union Blvd - 1,732 - $350,000 - $228,590 - $202.08
These are the lowest price and the highest price warehouse buildings for sale in the market:
Address - Size - Asking Price - Price PSF
601 Las Vegas Street - 6,349 - $230,000 - $36.23
531 North 30th Street - 1,213 - $350,000 - $288.54
Political Commentary: Just in case you were contemplating a vote for the democratic nominee, read what he has written about himself. These quotes are taken from his book, “From Dreams of My Father”
“I ceased to advertise my mother's race at the age of 12, when I began to suspect that by doing so I was ingratiating myself to whites. . . . I will stand with the Muslims should the political winds shift in an ugly direction.”
If you need further reasons to vote for and promote McCain, think taxes:
MCCAIN proposes no change in existing home sale tax.
OBAMA proposes a 28% tax on the profit from any home sale.
Ramification: If you sell your home and make a profit, under Obama’s plan, you would pay 28% of your gain on taxes. If you’re heading toward retirement and want to down-size or move into a retirement community, 28% of the money you make from the sale of your home will go to taxes.
MCCAIN proposes no change in the 15% dividend tax.
OBAMA proposes a 39.6% tax on all dividends.
Ramification: If you have money invested in stocks, IRAs, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, under Obama’s plan, you would pay nearly 40% of your dividend earnings in taxes.
MCCAIN proposes no change in the income tax.
OBAMA proposes a reversion to pre-Bush tax cuts.
Under the Obama plan, high earners would pay a lot more in income tax. (Think almost double.)
NEW TAXES PROPOSED BY OBAMA
1.) Taxes on homes that are more than 2,400 square feet.
2.) New gasoline taxes
3.) New taxes on natural resources consumption (heating gas, water, electricity)
Non-Profit Highlight: As most of you know, we host a NO ASK non-profit awareness function each quarter. This quarter, the Tri-Lakes Chamber of Commerce and Hoff & Leigh is pleased to host The American Red Cross.
What: A “no-ask awareness function to showcase the Red Cross
When: September 25, 2008 ~ 5:00-7:00 p.m.
Where: 13570 Meadowgrass ~ Colorado Springs, CO 80921
Half mile off I-25 and Gleneagle
What: You will enjoy a private tour of the Northgate Pointe office condos ~
Wine: Wine tasting by Carneros della Notte of Napa Valley, Dave Harmon, Vinter
Food: Heavy hors d’oeuvres ~
Entertainment: Live entertainment by International Music Syndicate
Sponsored by: Neighborhood Lending
If you’d like to come, we’d love to see you.
Please RSVP to RD Trinidad
719-630-2277 ~ RD@Hoffleigh.com
I hope you had a profitable week and next week is better!
Sincerely,
TJL
Tim Leigh
719-337-9551
Tim@HoffLeigh.com
To view our Office Matrix List please click below
http://hoffleigh.com/OfficeInsider.aspx
To view our Industrial Matrix List please click below
http://hoffleigh.com/IndustrialInsider.aspx
To view our Office Condo Matrix please click below
http://hoffleigh.com/HLIOfficeCondos.aspx
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