Real Estate Information Archive

* 25,000 - the square footage of the new TJ Maxx store at the Centerplace of Greeley II shopping center, 4578 Centerplace Drive

* 16,000 - The square footage required for a new canning line proposed by the New Belgium Brewery in Fort Collins.

* 10 - the number of years on the lease that All Occasions Catering signed at Drake Centre in west Fort Collins. All Occasions will take over 26,000 square feet of space at the one-time Steele's Market location.

* $8 million - the cost of expanding and remodeling the Loveland public library. The first phase of the project - a 24,000-square-foot addition - was due for completion on August 8th.

The Group Real Estate (2011). Real Estate by the numbers. Volume 35, No. 7

CBS-moneywatch.com commissioned a poll from the National Association of Remodeling Industry and determined most people are not starting major renovation projects due to the economy, but are taking care of the smaller jobs around the home

Trends:

1. Update bathroom- even if it’s only replacing grungy tile.
2. Tackle “have to” projects such as siding repairs/leaks.
3. Warm up the house with earth tone colors. White is out!
4. Add or update a deck to increase outdoor living space.
5. Take you time and hire a great contractor.
6. Pay in cash.
7. Open up rooms to maximize flexibility with current square footage.
8. Go bronze which complements the trend towards warmer colors.
9. Go green with triple-paned windows, bamboo floors, thatched roofs or even bark siding.
10. Bring in an industrial flair with stainless steel cable and architectural products.
11. Create a relaxation space, which might include a zen-like bathroom.
12. Plan ahead for you aging body with easy-open cabinets, hand-held showers and accessible kitchen and baths.

The Group Inc Real Estate Insider Vol 35, No 7

The Group’s team of sales partners met recently to discuss the trends so far this year in the Northern Colorado market. Here are themes that have combined the first part of 2011:

UP- Multiple Offers: High demand and low inventory in certain price ranges and neighborhoods has caused strong competition among buyers. This has lead to multiple offers being received on single properties.

DOWN- Homes for Sale: The number of properties on the market is down 13% compared to one year ago. There are many segments of the market that are under-supplied.

UP- Out-of-State- Buyers: Activity from out of state buyers has increased dramatically as the Northern Colorado region continues to receive high accolades from the national press.

DOWN- New Home Supply: The months supply in the new home market is at the lowest levels in the last five years.

UP- Investor Buyers: Low interest rates and low vacancy rates have provided the best investor market in many years.

The Group’s sales partners also noted a significant increase in home sales in certain price brackets from the first quarter to the second quarter of 2011:

• Greeley- homes priced between $400,000 to $500,000 increased by 266%
• Fort Collins- homes priced over $500,000 increased by 193%
• Loveland- homes priced between $300,000 to $440,000 increased by 100%
• Windsor- homes priced between $160,000 to $240,000 increased by 97%

The Group Inc Real Estate Insider Vol 35, No 7

Long-awaited improvements to the interchange at I25 and Colorado Highway 392 are expected to begin construction this August. Look for the upgraded highway junction- a traffic snag for several years at morning and evening rush hours- to ease regional travel and even enhance the potential for commerce for local businesses.

The Group Real Estate Insider: Vol 35, No 7

A pair of multi-family projects are mixing up commercial construction in two of the region’s downtown districts… and one local builder is in the middle of both initiatives.

Fort Collins based Brinkman Partners is planning a 72-unit project at 6^th St and Lincoln Ave in Loveland. Brinkman is negotiating with the city of Loveland to take over the 0.64 acre site, where the builder would construct apartments and live-work units.

At the same time, Brinkman broke ground in July on a four-story, 30 unit apartment building in the Penny Flats development in downtown Fort Collins. Lease rates for the project, call Mason Street Flats, will range from the mid $800’s to $1,600.

In each city, the Brinkman projects are part of a broader wave of activity. In Loveland, the $4.2 million, 20,000 square-foot Rialto Bridge development is under construction. Scheduled for completion in January. Rialto Bridge will feature office space, a tapas bar and a community gathering space. In Fort Collins, the former Mountain Shop outdoor store at 630 S Mason St is underwent remodeling to become the city’s newest craft beer haven, called the Mayor of Old Town- now open.

Roseben Inc, a California-based investor, paid $152.86 per square foot to buy the Fairway Estates Commercial building at 4900 S College Ave. Roseben acquired the 12,429 square-foot building for $1.9 million in a 1031 tax-deferred exchange.

The building, constructed in 1983 and remodeled in 2007, is occupied by Avis Rent A Car, VCA Animal Hospital and Caliber Funding.

The Group Real Estate Insider Vol 35 No 7

New FHA loan limit will be released effective August 1st. The amount for both Larimer and Weld counties are: $271,050.

Please contact Tami K. Spaulding with more details and information.

28.9-  The percent decline in foreclosures in Weld County between May 2010 and May 2011.

36- The number of federal properties in LarimerCounty that have been identified for disposal. The list includes seven Forest Service buildings in Fort Collins.

$5.2 million- The amount Coca-Cola will pay Colorado State University for a 10-year promotional agreement.

From The Group Real Estate Insider Vol 35, No 6

The Group Real Estate is ranked 3rd in the nation sales volume per sales associate for the year 2010 and the 2011 Power Broker Report compiled by RIS Media. The magazine's 23rd Annual Report gave a detailed break-down of year-end production numbers for the 300 most successful real estate companies nationwide. Nearly 1,000 companies responded to the survey.

The Group closed 3,523 transactions, averaging over 22 transactions per associate in 2010, and totaling $922,339,823 in sales volume.

President, Eric Thompson responded to the recognition by saying, "The customer never needed the assistance of a true real estate professional more than today. Customers today deserve to work with the very best-someone who will help them achieve their goal in the time frame that they need. Group Realtors are some of the most productive Realtors in the country and I believe our customers find value in that."

The Group Inc. Real Estate. (2011). The Group Difference. Volume 35, No. 4

Two different buyers claimed portions of the former Iron Mountain Autoplex in Windsor, indicating that fresh commercial activity may be in store for the U.S. Highway 34 corridor. Martin Lind, developer of the sprawling Water Valley mixed-use project paid $2 million for a 42,161 square foot building that once housed the Iron Mountain Chevrolet dealership. Lind and his representatives have hinted that plans are under way to develop the building and grounds, but he's not ready to disclose his vision for the site. Including previous holdings, Lind now owns 72 acres in the vicinity of the former auto plaza.

In a seperate deal, Kansas-based Berry Companies has placed the 17,635 square foot former Mazda dealership under contract. Berry Companies operates two Bobcat of the Rockies construction equipment dealerships in Northern Colorado - one in Greeley and one in Fort Collins. Company officials have stated they plan to consolidate the two sites in the Mazda building.

The two acquisitions represent another wave of good economic news for Weld County, which has recently experienced a surge of job growth due to oil and gas development in the Niobrara Formation.

The Group Inc. Real Estate. (2011). New Owners aim to revup former Windsor (West Greeley) car complex. Volume 35, No. 4.