Market Updates
Most people know that workforce housing is a big deal in ski mountain towns. Breckenridge, Colorado is no different. Jack Wolfe, one of our RMCRE partners represented the Town of Breckenridge and Summit County government to purchase the Loge Camp Motel off Tiger Road for $6,000,000. They plan to convert it to 38 studio apartments......
From RMCB to RMCRE The Rocky Mountain Commercial Brokers organization has recently changed its name to Rocky Mountain Commercial Real Estate to reflect the changing nature of its partner members. Formed in 2010 under the name Rocky Mountain Commercial Brokers, the organization’s mission was to provide a high level of commercial real estate brokerage services......
City of Delta bought the historic Armory downtown building for their new Police Department. Asbestos removal is undergoing. The City of Delta along with the County purchased the former City Market 21,000 + building to renovate and relocate the downtown library. The current library building will then be the home of the Delta County’s Sherriff’s......
2021 Q2 2022 Q2 %+- VELOCITY (Source – MLS) Commercial Sales Volume $11,434,000 $12,825,000 Commercial Transactions 14 7 VACANCY RATE n/a n/a CAP RATE n/a n/a SALES TAX INDICATORS (Source – MLS) All Sales Tax $12,711,581 $13,631,042 Lodging Taxes $1,452,126 $1,603,657...
We have moved from a Seller’s market to a balanced market in residential real estate. Commercial real estate has not changed with low vacancy rates and stable cap rates. Breckenridge has less than a 1/2 of 1% vacancy rate in restaurant and retail space. 2021 Q2 2022 Q2 %+- VELOCITY (Source – Land Title Guarantee......
Old Russell Strover retail was purchased by Home Loan bank for bank and Enstrom’s Candies. City of Montrose purchased the downtown Wells Fargo branch for new city hall. Montrose Memorial Hospital has a property under contact to expand. 2021 Q2 2022 Q2 %+- VELOCITY (Source – MLS ) Commercial Sales Volume......
Chaffee County continues to see a strong housing market. Commercial Real Estate sales volume of $13,092,500, with 15 transactions (YTD) through the second quarter of 2022, down by 29.9% compared to 2021 having $18,689,250 in sales volume consisting of 28 transactions. Residential Real Estate sales volume through the second quarter of 2022 up 12.3%, totaling......
The commercial real estate market traditionally follows residential market trends, at a slower pace. As the 2nd quarter ends, the buyer demand for commercial real estate still is in demand, but inventory is slow to come on the market. A little more than did in 2020 and 2021 for residential. Still, Realtors® are reporting a......
PUBLIC POLICY CHANGES • Marijuana Regulations: City adopted ordinance No 5070 May 6th for standards, and all applications were due by June 8th. 26 of those applicants were selected to move forward to public hearings. We should have final results of the 10 final licenses in 30-60 days.• City is adopting a 2022 Annual AcLon......
We are just beginning to notice things slowing down in the real estate marketing in Crested Butte, but here are some notable transactions recently: Key Motel 911 N Main Gunnison Colorado: 30,330 SF, 59. Sold at $5.6 Million. True Value (Anchor Tenant) Building, Gunnison, Colorado: 31,000 SF, 2.41 Acres, 4 Units. Sold at $2.3 Million.......