DENVER-It could easily take four or five years for the submarket to recover from an overall vacancy rate of 54%, says Chris Phenicie, a broker with Commercial Colorado. Class B space has a 77% vacancy rate.
WESTMINSTER, CO-An agreement with Regus Business Centres Corp. for space at Westmoor Technology Park "is a bright spot in a market has had a lot of gloom and doom," according to Fredrick Ross Co. broker Kevin F. Richey.
DENVER-The member of the 2001 Denver Metro Commercial Association of Realtors' Heavy Hitters list will oversee leasing of seven buildings totaling 2 million sf.
BROOMFIELD, CO-Construction money and equity financing are in place for the $61-million Summit at Main Street as Greystar Real Estate Partners LLC bets the market will rebound by the time it comes on line.
DENVER-Forced out of its Terracentre building on Speer Boulevard when the city condemned it for its Colorado Convention Center expansion, the bank will eventually have 42,000 sf at the Legacy Tower building at 17th and California streets.
DENVER-The penalty could have been heftier than $129,850 had Apartment Investment and Management Co. not volunteered to test and clean lead-based paint hazards in 130,000 multifamily units in 47 states.
GOLDEN, CO-The world's largest industrial REIT will have done three facilities totaling 700,000 sf after completing a distribution building on McIntyre Road and West 58th Avenue. It is the second Coors project here; the other is in Denver.
DENVER-Opened in 1965, the Byron G. Rogers Courthouse will house the federal probation office, the US marshal's office and offices for senior judges. A woman-owned small business will design the project.
DENVER-Every month since September has shown an improvement, but occupancy at area hotels is off from a year ago. At 62% for the year, 2001 was the industry's worst since 1990, according to hotel consultant John A. Montgomery.
DENVER-A life insurance company provides Yale Place Partnership LLP with a $5.5-million loan on the two-building, 64,051-sf Greens at Inverness office complex. NorthMarq Capital vice president Charlie Webb arranges the loan.