Market Updates
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.......
The first six months of 2022 have been strong in Aspen in all categories from commercial leasing, residential sales, retail sales and lodging taxes. Commercial lease rates have doubled and residential property prices have increased 59% to 66% in the past 18-months. In the first half of 2022, we had one office/retail building sale at......
Glenwood Springs continues to have a strong commercial sales market for 1st quarter 2022. Investors are still looking for a solid ROI, and strong tenant demand continues in this area. The industrial sector still has a lag of supply to demand, as businesses continue to look for warehouse and lease spaces. The lack of commercial......
The Downtown market is strong. There is very little vacancy in commercial space. Maverik Gas Station is completed. LITC Apartment “Iron Horse” is nearing completion. The city is doing mass re-zoning and road projects. FRIDAY health plans continues to expand. District Attorney Recall election slated. And there is a possible New Hotel in the works.......
2021 was the best year ever for Gunnison and Crested Butte commercial real estate transactions.Mark Walter, billionaire owner of the LA Dodgers and CEO of Guggenheim Financial Services invested heavily in local commercial real estate including many high profile restaurant and bar properties located on Elk Avenue, Crested Butte’s main street. Also, Jeff Hermanson, CEO......
The commercial real estate market traditionally follows residential market trends, at a slower pace. As 2022 gets well underway, the buyer demand for commercial real estate far outweighs supply, just as it did in 2020 and 2021 for residential....
2021 Q1 2022 Q1 %+- VELOCITY (Source – MLS) Commercial Sales Volume $3,177,000 $11,625,000 Commercial Transactions 5 6 VACANCY RATE n/a n/a CAP RATE n/a n/a SALES TAX INDICATORS (Source – MLS) All Sales Tax $2,823,692 $3,167,968 Lodging Taxes $29,343 $35,081...
In 2021 many counties across Colorado, commercial real estate inventory became as limited as residential inventory. Properties that had been on the market for years, finally sold, with great velocity in in each quarter. ...