.
Hoff & 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 30, 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 = $111.91 (DOWN from $112.02 last week.)
We are currently tracking 146 office buildings for sale.
This is 1,532,505 square feet, which represents a total market value of $171,506,183.
All Market Average Industrial Building Sale Price PSF = $95.54 (UP from $82.99 last week.)
We are currently tracking 135 industrial buildings for sale.
This is 1,429,702 square feet, which represents a total market value of $136,600,656.
To view our most recent Colorado Springs Business Journal Ad please click below
http://hoffleigh.com/Doc/8-25-09.pdf
Tim’s Market Notes:
To be honest, it’s been an awful couple of months for cash flow at the Mother Ship, but hopefully we’ve navigated through the ice bergs and are heading to warmer and friendlier seas.
And, mercifully, last week we closed the purchase of 2 office buildings and a small investment property, and we have another office building set-to-close this morning. We postponed the closing of a 5 acre parcel of land because the Buyer couldn’t get his financing worked-out, but it looks like we’ll wrap-that in September. And in the process of all that activity, we managed to gather a few Mice. (Mice are small leases. They used to be called Rabbits but it seems like every deal has gotten smaller lately so we’ve changed the nomenclature. We used to “Shoot a Rabbit” every day; now we “Gather Mice”.) Of course, we get our share of Elephants, but Gathering Mice is nice. In fact, for many building owners, Mice are often the difference between profit or loss or running out of money before they run out of month.
And speaking of running out of money . . . we’ve never carried such a large receivables account. In fact, “as a sign-of-the-times”, we’ve started suing for collection. And fortunately or unfortunately, depending on your point of view, in 1 case, it looks like, (instead of our fee), we’re going to get-the-girl. It’s a pretty cool building on the West Side; especially now that the defaulting party has spent thousands fixing it up.
But how are things, really? “Things” seem to be picking up. In fact, city-wide, there seems to be an optimistic tone, I mean, come-on, even the Bums are talking about buying real estate. (Seriously; if you missed the article, read Saturday’s Gazette.) And don’t think I’m heartless – I’m not; really; I have a real heart for those truly in need. But, realize, I think most of our city’s panhandler’s should move to another city. I know I can’t be the only one who thinks so; it’s just that I may be the only one who dares to say-so. Think about this; Pueblo or Albuquerque; they both have warmer climates; nicer river-side-camping and better Mexican food!
A friend of mine, who runs a hard-core street ministry and who says he feeds more meals annually than The Salvation Army says about ½ of our street population live that way by choice. He says, “The Guys” like to “summer in Colorado Springs” & “winter in Santa Barbara”. In their community, The Guys know what city offers the best amenities; the greatest selection of meals (here’s a challenge - count the number of places that serve free-meals, daily); the best free health care, etc., Great! We’ve been working on making this a great city and while we continue to be classified as “The Best This” or “The Best That”, it seems like we’re “The Best Place to be Homeless.” Argh!
One of my answers is to turn lemons into lemonade. I decided that I can capitalize on our situation by panhandling from the Panhandler’s. In fact Saturday night, I accosted 3 separate groups of guys who were panhandling on Tejon Street. 1 guy, sitting in the flower bed at the corner of Pikes Peak & Tejon actually gave me 5 nickels! I guess that’s a start. Say, I wonder if I have to report that on my tax return.
I hope you have a prosperous week!
Hoff & Leigh, Inc.
Leasing; Sales; Management; Buyer or Tenant Representation
4445 Northpark Drive, Suite 200
Colorado Springs, CO 80907
August 30, 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 = $111.91 (DOWN from $112.02 last week.)
We are currently tracking 146 office buildings for sale.
This is 1,532,505 square feet, which represents a total market value of $171,506,183.
All Market Average Industrial Building Sale Price PSF = $95.54 (UP from $82.99 last week.)
We are currently tracking 135 industrial buildings for sale.
This is 1,429,702 square feet, which represents a total market value of $136,600,656.
To view our most recent Colorado Springs Business Journal Ad please click below
http://hoffleigh.com/Doc/8-25-09.pdf
Tim’s Market Notes:
To be honest, it’s been an awful couple of months for cash flow at the Mother Ship, but hopefully we’ve navigated through the ice bergs and are heading to warmer and friendlier seas.
And, mercifully, last week we closed the purchase of 2 office buildings and a small investment property, and we have another office building set-to-close this morning. We postponed the closing of a 5 acre parcel of land because the Buyer couldn’t get his financing worked-out, but it looks like we’ll wrap-that in September. And in the process of all that activity, we managed to gather a few Mice. (Mice are small leases. They used to be called Rabbits but it seems like every deal has gotten smaller lately so we’ve changed the nomenclature. We used to “Shoot a Rabbit” every day; now we “Gather Mice”.) Of course, we get our share of Elephants, but Gathering Mice is nice. In fact, for many building owners, Mice are often the difference between profit or loss or running out of money before they run out of month.
And speaking of running out of money . . . we’ve never carried such a large receivables account. In fact, “as a sign-of-the-times”, we’ve started suing for collection. And fortunately or unfortunately, depending on your point of view, in 1 case, it looks like, (instead of our fee), we’re going to get-the-girl. It’s a pretty cool building on the West Side; especially now that the defaulting party has spent thousands fixing it up.
But how are things, really? “Things” seem to be picking up. In fact, city-wide, there seems to be an optimistic tone, I mean, come-on, even the Bums are talking about buying real estate. (Seriously; if you missed the article, read Saturday’s Gazette.) And don’t think I’m heartless – I’m not; really; I have a real heart for those truly in need. But, realize, I think most of our city’s panhandler’s should move to another city. I know I can’t be the only one who thinks so; it’s just that I may be the only one who dares to say-so. Think about this; Pueblo or Albuquerque; they both have warmer climates; nicer river-side-camping and better Mexican food!
A friend of mine, who runs a hard-core street ministry and who says he feeds more meals annually than The Salvation Army says about ½ of our street population live that way by choice. He says, “The Guys” like to “summer in Colorado Springs” & “winter in Santa Barbara”. In their community, The Guys know what city offers the best amenities; the greatest selection of meals (here’s a challenge - count the number of places that serve free-meals, daily); the best free health care, etc., Great! We’ve been working on making this a great city and while we continue to be classified as “The Best This” or “The Best That”, it seems like we’re “The Best Place to be Homeless.” Argh!
One of my answers is to turn lemons into lemonade. I decided that I can capitalize on our situation by panhandling from the Panhandler’s. In fact Saturday night, I accosted 3 separate groups of guys who were panhandling on Tejon Street. 1 guy, sitting in the flower bed at the corner of Pikes Peak & Tejon actually gave me 5 nickels! I guess that’s a start. Say, I wonder if I have to report that on my tax return.
I hope you have a prosperous 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
