.
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
March 15, 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 = $112.47 (UP from $112.37 last week.)
We are currently tracking 109 office buildings for sale.
This is 1,164,200 square feet, which represents a total market value of $130,938,900.
All Market Average Industrial Building Sale Price PSF = $75.91 (UP from $75.81 last week.)
We are currently tracking 96 industrial buildings for sale.
This is 1,316,929 square feet, which represents a total market value of $99,967,606.
Tim’s Market Notes:
According to the BBC World News, “We should not be taking work so seriously”. That was my attitude last Thursday after work. I felt like I had been rode hard and put away wet. Be less serious; play more. After all, there’s not really that much that I can control in my life except how and when I enjoy the warm sun on my face. And, I’ve been told, given the right circumstances, the sun shines on every-dog’s face, and after all, the world seemed to be settling down. For the week, the DOW jumped 9% from its Monday low (and I heard that one of our area’s largest non-profits recovered $25,000,000 in 2 days in the process! Wow! Congratulations on that!). Where 2 weeks ago banks were “too-big-to-fail” and on the verge of bankruptcy they’re now poised to claim quarterly profits. How does that work? Our father in Washington must have waived his magic wand.
I checked www.Weather.com and while the maps indicated an Albuquerque low, (the great indicator of inclement weather for Colorado Springs & New Mexico), I decided to accede to my wife’s wishes, pound my way through the ice & snow & rain and make the trek to the Grand Canyon. (For the women – you should know – guys don’t take random trips, or for that matter, have random lunches – we need missions. Our mission on this trip was to see the Grand Canyon!) I’ve never been to the Grand Canyon. Lise had never seen the Grand Canyon. I’ve flown over the Grand Canyon and I remember that it looked grand. And, so, in spite of my last minute weather related attempt to bail and remain serious, we packed the car with hard-boiled eggs, cookies, cheese, fruit, beer and clean underwear and off we went.
I wasn’t ready for this trip to be a learning experience; but in the process of being less serious, I witnessed the vein of life from richest to poorest; we slept on a hard bed and on a soft bed and found people with no bed. We saw people practicing new-age sustainability by smoky campfire; we learned about The Harvey Girls, saw the very rare white faced deer (actually thousands of them), and we saw the Sand Hill Cranes in Alamosa. And we saw real estate. We saw a lot of real estate; good and bad. But I digress.
Even though New Mexico actually does a pretty good job maintaining its portion of the interstate highway system, the drive was grueling; we arrived at the Enchantment Resort in Sedona, AZ www.enchantment.com
late. The Enchantment claims to be one of the Leading Small Hotels in the World; you can get a reservation at 800-826-4180. I recommend it; and coming from me, an avowed hotel snob, that’s a good recommendation. The location was amazing – think of a setting in a deep canyon surrounded by the Garden of the Gods on steroids. The first stop was the room and 2 Jack’s; I felt better and was getting in the mood to take the BBC’s advice.
After a good night on a hard bed, we left early Saturday morning for the 2 hour drive to the Grand Canyon. It didn’t disappoint. After the initial ooh’s & aah’s (and it was grand), it came to me; there was a huge business opportunity lying at my feet. “What a great place for new homes! The view from rim-side was amazing; these lots would sell quickly.” I wasn’t sure why nobody thought of this before. I had glorious visions of new development; job creation; construction; lumber sales; Realtor fees; mortgage fees; banking fees; we’d jump-start the entire construction industry – no, the entire national economy with this one deal. National heroes! Fannie Mae could finance the deal with zero down, option-arm’s. Then Lise asked for another cup of coffee.
Mission accomplished. We saw the Grand Canyon. In spite of the betting back home, we did not make the trip in 1 night. We actually stretched less serious to 2 nights. To get there, we had to cross the Navajo Nation Indian Reservation. I asked Lise if you can call it an Indian Reservation without getting into trouble. We concluded that since that’s what they called it on the map, it must be OK. It’s funny; you leave the Grandness of the Grand Canyon Park and suddenly drop into a part of the world that looks more like a lunar landscape than part of the earth. Lise blurted “Holy shit. How can anyone live here?” As a real estate matter, I concluded the Indians really got screwed. (Hey Buddy, want to buy an ocean front lot?) Desolate; forsaken; vast; stark; uninhabitable; lumpy; untouched; open; uninhabitable; you can’t adequately describe the terrain or the drive. I’ve never been so happy to be through a territory. I remember as we pulled into Cortez, seeing some unlucky driver heading south into the abyss. I thought of Purgatory. I think we were just there. I would not want to make that drive at night.
Cell phone technology allowed us to connect with the Double Tree in Durango; http://doubletree1.hilton.com/en_US/dt/hotel/RLDU-DT-Doubletree-Hotel-Durango-Colorado/index.do.
I recommend room 452. I asked for the nicest room in the hotel; they said Room 452 was the ticket. It’s on the top floor; north-end (quiet); on the back of the hotel with a river view and a balcony. (I’m not sure that the Double Tree is really a hotel. It’s more likely a motor-inn because when I asked about the turn-down service, the front desk lady looked at me like “What?” The other lady, older & wiser, told her my question was appropriate. She told me “No worries, the room was already turned-down”. Another bad sign. She was enjoying a state of blissful ignorance which may be a great way to spend life. No worries. Another Jack & less seriousness.
When I was in grammar school, our teachers always asked “What did you learn this weekend?” I learned there’s still an economy; my butt hurts after 8 hours; chocolate chip cookies go equally well with coffee or beer; the expensive places were full; the less expensive places, not-so-much. People still eat-out. The 1920 depression only lasted 1 year because the government didn’t over-regulate or over-intervene; they decreased the highest marginal tax rate from 73% to 25% and in the process lowered unemployment from 12% to less than 2%; and in the process, over the course of the decade, paid-off 1/3 of the national debt. Good real estate is good real estate and don’t buy ocean-front land in Arizona.
After a fitful night on a soft bed, driving from one corner of the state to the other, I was constantly reminded why we love Colorado; Blue skies; snow capped peaks; wide open spaces; wild-life; quiet. I promised myself to apply the lessons of the BBC.
Want to know more? Contact me at Tim@HoffLeigh.com
Here’s what we do:
Property Leasing; sales; property management; Buyer or Tenant Representation.
How can we help you today? Call us. We’re honest & trustworthy and doggone it, people like us.
Concierge Services:
We offer property management & maintenance concierge services. We have vendors for most property needs. It’s like having a full-time property manager at a fraction of the cost. If you’d like to know more about this service; how you can become involved; how you become a “recommended vendor” call me: 719-630-2277.
Focus on Charity
We’re committed to being active community partners. We endorse & support the following charities & non-profit organizations. In spite of challenging financial times, we hope you’ll remember the financial needs of your favorite charity or non-profit. If you don’t have one, these guys could use your help. They add significant value to our community & quality of life.
The Salvation Army: Feeding 52,000 people every year.
The Red Cross: They provide emergency assistance at every disaster in the Pikes Peak region
The Boy Scouts: Assisting 10,000 kids in the Pikes Peak Region, they nurture young men into responsible adults.
The United Way: Everybody’s partner in funding non-profits.
Chamber of Commerce: The business community’s voice in local politics.
Economic Development Committee: Helping the city grow jobs and employment.
Want to know more? Contact me at Tim@HoffLeigh.com
Have a profitable week!
Hoff & Leigh, Inc.
Leasing; Sales; Management; Buyer or Tenant Representation
4445 Northpark Drive, Suite 200
Colorado Springs, CO 80907
March 15, 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 = $112.47 (UP from $112.37 last week.)
We are currently tracking 109 office buildings for sale.
This is 1,164,200 square feet, which represents a total market value of $130,938,900.
All Market Average Industrial Building Sale Price PSF = $75.91 (UP from $75.81 last week.)
We are currently tracking 96 industrial buildings for sale.
This is 1,316,929 square feet, which represents a total market value of $99,967,606.
Tim’s Market Notes:
According to the BBC World News, “We should not be taking work so seriously”. That was my attitude last Thursday after work. I felt like I had been rode hard and put away wet. Be less serious; play more. After all, there’s not really that much that I can control in my life except how and when I enjoy the warm sun on my face. And, I’ve been told, given the right circumstances, the sun shines on every-dog’s face, and after all, the world seemed to be settling down. For the week, the DOW jumped 9% from its Monday low (and I heard that one of our area’s largest non-profits recovered $25,000,000 in 2 days in the process! Wow! Congratulations on that!). Where 2 weeks ago banks were “too-big-to-fail” and on the verge of bankruptcy they’re now poised to claim quarterly profits. How does that work? Our father in Washington must have waived his magic wand.
I checked www.Weather.com and while the maps indicated an Albuquerque low, (the great indicator of inclement weather for Colorado Springs & New Mexico), I decided to accede to my wife’s wishes, pound my way through the ice & snow & rain and make the trek to the Grand Canyon. (For the women – you should know – guys don’t take random trips, or for that matter, have random lunches – we need missions. Our mission on this trip was to see the Grand Canyon!) I’ve never been to the Grand Canyon. Lise had never seen the Grand Canyon. I’ve flown over the Grand Canyon and I remember that it looked grand. And, so, in spite of my last minute weather related attempt to bail and remain serious, we packed the car with hard-boiled eggs, cookies, cheese, fruit, beer and clean underwear and off we went.
I wasn’t ready for this trip to be a learning experience; but in the process of being less serious, I witnessed the vein of life from richest to poorest; we slept on a hard bed and on a soft bed and found people with no bed. We saw people practicing new-age sustainability by smoky campfire; we learned about The Harvey Girls, saw the very rare white faced deer (actually thousands of them), and we saw the Sand Hill Cranes in Alamosa. And we saw real estate. We saw a lot of real estate; good and bad. But I digress.
Even though New Mexico actually does a pretty good job maintaining its portion of the interstate highway system, the drive was grueling; we arrived at the Enchantment Resort in Sedona, AZ www.enchantment.com
late. The Enchantment claims to be one of the Leading Small Hotels in the World; you can get a reservation at 800-826-4180. I recommend it; and coming from me, an avowed hotel snob, that’s a good recommendation. The location was amazing – think of a setting in a deep canyon surrounded by the Garden of the Gods on steroids. The first stop was the room and 2 Jack’s; I felt better and was getting in the mood to take the BBC’s advice.
After a good night on a hard bed, we left early Saturday morning for the 2 hour drive to the Grand Canyon. It didn’t disappoint. After the initial ooh’s & aah’s (and it was grand), it came to me; there was a huge business opportunity lying at my feet. “What a great place for new homes! The view from rim-side was amazing; these lots would sell quickly.” I wasn’t sure why nobody thought of this before. I had glorious visions of new development; job creation; construction; lumber sales; Realtor fees; mortgage fees; banking fees; we’d jump-start the entire construction industry – no, the entire national economy with this one deal. National heroes! Fannie Mae could finance the deal with zero down, option-arm’s. Then Lise asked for another cup of coffee.
Mission accomplished. We saw the Grand Canyon. In spite of the betting back home, we did not make the trip in 1 night. We actually stretched less serious to 2 nights. To get there, we had to cross the Navajo Nation Indian Reservation. I asked Lise if you can call it an Indian Reservation without getting into trouble. We concluded that since that’s what they called it on the map, it must be OK. It’s funny; you leave the Grandness of the Grand Canyon Park and suddenly drop into a part of the world that looks more like a lunar landscape than part of the earth. Lise blurted “Holy shit. How can anyone live here?” As a real estate matter, I concluded the Indians really got screwed. (Hey Buddy, want to buy an ocean front lot?) Desolate; forsaken; vast; stark; uninhabitable; lumpy; untouched; open; uninhabitable; you can’t adequately describe the terrain or the drive. I’ve never been so happy to be through a territory. I remember as we pulled into Cortez, seeing some unlucky driver heading south into the abyss. I thought of Purgatory. I think we were just there. I would not want to make that drive at night.
Cell phone technology allowed us to connect with the Double Tree in Durango; http://doubletree1.hilton.com/en_US/dt/hotel/RLDU-DT-Doubletree-Hotel-Durango-Colorado/index.do.
I recommend room 452. I asked for the nicest room in the hotel; they said Room 452 was the ticket. It’s on the top floor; north-end (quiet); on the back of the hotel with a river view and a balcony. (I’m not sure that the Double Tree is really a hotel. It’s more likely a motor-inn because when I asked about the turn-down service, the front desk lady looked at me like “What?” The other lady, older & wiser, told her my question was appropriate. She told me “No worries, the room was already turned-down”. Another bad sign. She was enjoying a state of blissful ignorance which may be a great way to spend life. No worries. Another Jack & less seriousness.
When I was in grammar school, our teachers always asked “What did you learn this weekend?” I learned there’s still an economy; my butt hurts after 8 hours; chocolate chip cookies go equally well with coffee or beer; the expensive places were full; the less expensive places, not-so-much. People still eat-out. The 1920 depression only lasted 1 year because the government didn’t over-regulate or over-intervene; they decreased the highest marginal tax rate from 73% to 25% and in the process lowered unemployment from 12% to less than 2%; and in the process, over the course of the decade, paid-off 1/3 of the national debt. Good real estate is good real estate and don’t buy ocean-front land in Arizona.
After a fitful night on a soft bed, driving from one corner of the state to the other, I was constantly reminded why we love Colorado; Blue skies; snow capped peaks; wide open spaces; wild-life; quiet. I promised myself to apply the lessons of the BBC.
Want to know more? Contact me at Tim@HoffLeigh.com
Here’s what we do:
Property Leasing; sales; property management; Buyer or Tenant Representation.
How can we help you today? Call us. We’re honest & trustworthy and doggone it, people like us.
Concierge Services:
We offer property management & maintenance concierge services. We have vendors for most property needs. It’s like having a full-time property manager at a fraction of the cost. If you’d like to know more about this service; how you can become involved; how you become a “recommended vendor” call me: 719-630-2277.
Focus on Charity
We’re committed to being active community partners. We endorse & support the following charities & non-profit organizations. In spite of challenging financial times, we hope you’ll remember the financial needs of your favorite charity or non-profit. If you don’t have one, these guys could use your help. They add significant value to our community & quality of life.
The Salvation Army: Feeding 52,000 people every year.
The Red Cross: They provide emergency assistance at every disaster in the Pikes Peak region
The Boy Scouts: Assisting 10,000 kids in the Pikes Peak Region, they nurture young men into responsible adults.
The United Way: Everybody’s partner in funding non-profits.
Chamber of Commerce: The business community’s voice in local politics.
Economic Development Committee: Helping the city grow jobs and employment.
Want to know more? Contact me at 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
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
