Becky Hurley of The Colorado Springs Business Journal does a wonderful job keeping her readers informed about the business climate of Colorado Springs.
In one of her recent articles, she reports, “HPRT Properties Trust, a Massachusetts-based real estate investment trust, bought the two-story Class A office building near Woodmen Road and Interstate 25 for $10.8 million, in line with the El Paso County assessor’s 2010 market value.”
Frankly, I was taken off guard about this purchase, as Colorado Springs Commercial Real Estate seems to be struggling at the moment. According to Wells Fargo Southern Colorado Business Banking Manager Jim Harris, “Institutions usually don’t buy until they see a bottom (of the market) or there’s some special circumstance.”
Regardless, as a Colorado Springs Realtor who has forged some good business relationships with some commercial agents, it’s always good to see a vote of confidence in the Colorado Springs local economy.
Feel free to contact our Colorado Springs Realtors at Selley Group Real Estate, LLC:
2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101
Blog written, but not proofread.