DENVER-The story's the same in Denver as elsewhere when it comes to the office market. Vacancy overall jumped 3.6% to 18%, but the northwest submarket gets hit the hardest, spiking from 4% to 34.7%.
COLORADO SPRINGS, CO-The Broadmoor Hotel is getting on with business that heralds a return of workers to complete a $75-million renovation. The first phase was unveiled Memorial Day. Work now begins on the original main building and its Northmoor and Southmoor structures.
DENVER-The Denver industrial market holds its own, with vacancy coming in at 6.2% at the third quarter close. It should rise just a tad by year's end. The more probing issue is whether 2002 will be a "space Odyssey.
DENVER-With the decision now public for a move by Children's Hospital, Exempla/St. Joseph has entered into preliminary talks to take some of the space that will be vacated. Meanwhile, the large neighbor kicks in a $190-million, 10-year renovation of its campus.
DENVER-The writing's on the wall for Denver's Uptown, which loses its 100-year-old anchor to Fitzsimons medical center. Children's Hospital will build a $400-million, 900,0000-sf facility and exit Uptown in 2006. The mayor's calling up a task force.
DENVER-The fanfare of a topping out ceremony has quieted for the 690,000-sf municipal building. The project is on schedule for its delivery, which falls in about a year. The $130-million structure is the largest project in the works right now in Denver.
COLORADO SPRINGS, CO-The possibilities are plentiful, say the brokers scouring for a buyer of the 1,724-acre Lorson Ranch. If developed as residential and commercial, the yield could easily carry a $1-billion value.
DENVER-First Data is laying the groundwork to expand its campus at the Meridian International Business Park in Douglas County. Ground breaks on a 166,000-sf second building and an abutting 15-acre tract is bought.
VAIL, CO-Vail Resorts strikes high-ticket deal with Olympus Real Estate Partners, with offices in Dallas and New York City, to take over Rockresorts. At closing, Vail pays $7.5 million for an initial interest, puts $20 million down on a resort and arranges for follow-up payments.
DENVER-The state's highly touted cutback in building projects isn't extending to the Community Colleges of Colorado at the Lowry campus. The state quietly has placed an ad for a project manager to steer $12 million to $15 million in campus renovations.