Chaffee County remains a strong market with keeping fairly consistent with sales volumes compared to this time a year ago within the County. Commercial Real Estate sales volume of $3,698,644, with 6 transactions (YTD) through the first quarter of 2023, down by 28% compared to 2022 having $5,104,000 in sales volume consisting of 5 transactions.......
Developments – What is happening The Montrose market has been mixed. There are still several cash buyers that are looking for properties in the area. Interest rate increases purchases requiring a loan. The economy has been strong with lots of people and businesses moving into the area. 2022 Q1 2023 Q1 %+- VELOCITY (Source......
2022 definitely felt some shock waves from the Fed’s manipulation of the market, but liquidity seems to be holding the foundation together. Hospitality groups are seeing record breaking revenues and Grand Junction still seems to be attracting lifestyle movement at a healthy rate. Business opportunities seem to be ripe for acquisition and with turmoil in......
Alamosa Updates for Commercial Real Estate 2022: Completed a DA recall which should help with crime. A large strip mall changed hands at a 5.5% cap rate which is the lowest we’ve seen in a while. Tourism is still strong. CRHDC acquired 160 apartment doors and 333 storage units from a private developer. Here are......
PUBLIC POLICY UPDATE: City of Delta is looking at developing a piece of land they own for workforce housing. Applying for grant funds now. One Delta County is going to start on the infrastructure for a future industrial park. Applying for grant funding to assist. City and County governments are working together with the new......
NOTES: The commercial real estate sales volume in the Aspen Snowmass market in 2022 was $99.4 million, double the 2021 sales volume of $49.8. In both years there were 22 commercial real estate transactions completed, however, in 2021 the largest transaction was $8.9 million while in 2022 there were 4 transactions over $10 million in......
The commercial market in the fourth quarter of 2022 was slow due to uncertainty in the market, high interest rates, and low inventory. I expect the inventory to increase early in 2023, which will bring up activity, but will more than likely put pressure on CAP rates. The one big bright spot is that there......
NOTES: 2021 was a much busier year for Ron than 2020 Lack of inventory continues Short-Term Rentals is an issue; Steamboat City Council continues discussion City of Steamboat Springs is considering dormitory type housing to be built in Industrial Zoning 65 Live/Work units and Industrial lots proposed at entrance of Steamboat Springs Airport Overland Park......
DEVELOPMENTS Chaffee County Land Use Code is being re-done. This may cause several hiccups in land development in the future. Cleora- Platted in 1879, will create 80 lots priced very well Union Pacific Railroad will be selling some property in Downtown Salida with River Frontage. This will be a great commercial development opportunity. Chaffee County......
Developments – What is happening Expansion of Montrose Airport Terminal in process and almost complete Black Canyon Boy & Girls Club purchased Casacade Movie complex to move into Montrose Regional Hospital to build ambulatory care center Marriott Fairfield Inn is in process of being built 2021 Q4 2022 Q4 %+- VELOCITY (Source – MLS)......