August 2, 2009

Tim Leigh’s Weekend Market Report
Hoff & Leigh, Inc.
Leasing; Sales; Management; Buyer or Tenant Representation
4445 Northpark Drive, Suite 200
Colorado Springs, CO 80907
August 2, 2009

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 = $112.82 (UP from $112.18 last week.)
We are currently tracking 148 office buildings for sale.
This is 1,503,533 square feet, which represents a total market value of $169,626,213.

All Market Average Industrial Building Sale Price PSF = $83.26 (DOWN from $83.92 last week.)
We are currently tracking 130 industrial buildings for sale.
This is 1,630,624 square feet, which represents a total market value of $135,767,656.

To view our most recent Colorado Springs Business Journal Ad please click below
http://hoffleigh.com/Doc/7-29-09.pdf


Tim’s Market Notes:

My comments are short & sweet this week as I’m running out the door to Vail, where I’m planning to spend the morning riding Vail Pass. I have a bike with 18 gears, so it should be fairly easy. Not that I’m looking for easy, necessarily, but you know, my hair’s turning white and I’m told I’m getting old! Now, why would anybody want to spend the morning riding Vail Pass? I mean, come-on, it’s about 10 miles and its all straight-up-hill. I ride because, I guess, it’s there! There’s no accounting for “stupid-is as stupid-does!” And, oh yea, there is the massage at 3:00 o’clock that comes right after; and the dinner; and the wine; and the music. As I always tell my kids, “You have to eat the green beans before you get the chocolate pudding!” I know – it’s a tough life.

Most of know that Colorado Springs is one of the truly great places in America to live. That was affirmed by Outdoor Magazine last week and I validated it (again), myself, this week. Of course I worked – I always work – just ask-my-wife. And with our (Hoff & Leigh) work, we managed to close the sale of a small commercial building and finish a few leases – all this, in spite of the market. (Truthfully, “in- spite-of-the-market”, there are still people conducting commerce and commercial real estate deals are being done!) Our closing was Holly’s “first, by-myself-dad, deal”. (Way to go Holly! You’re going to be a Rock Star!)

As for me, my work included running the Manitou Incline; running Barr Trail; boating & swimming (is that legal?) in the Pueblo Reservoir; riding my bike through the “most beautiful canyon in the world” (South Cheyenne Canyon – and tell me again, why we don’t promote that, more?); taking part in a secret Missile Defense War Game; meeting and dining with several, very engaging & bright engineer/techno-geeks from 13 different countries, and generally living-the-dream! Why wouldn’t everybody want to live here? We can talk about “Safe, Fun, Clean” later, but keep those thoughts in mind! Remember SFC; SFC; SFC.

So it’s “off for more drudgery” for me, but I’ll be in full-form next week.

The numbers are starting to look up, but they still reveal a market (building’s for sale) that’ nearly $40 per square foot over-priced. But, here’s something I can’t quantify - there seems to be a “bit-o-optimism” in the air. The numbers don’t point to any reason for optimism, but I’m going to roll-with-it. I guess it has to do with warm August weather; clean mountain air; great outdoor activities; unclogged freeways; good lookin’ women, happy children and smart men, (and unfettered opportunity!)

If you’d like to talk about your particular situation – give me a call. You can reach me on my private line – 719-337-9551 or by email: Tim@HoffLeigh.com.

Have a profitable week.

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