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Pinnacle Post - Commercial Real Estate in Denver

Pinnacle Real Estate Advisors provides up-to-date information on commercial real estate news in Denver. Our commercial real estate blog delivers market data and market trends for all product types including: office, industrial, multifamily, land, retail and student housing.

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Discounts tempering higher apartment rents in metro Denver

  
  
  

By: Molly Armbrister, Denver Business Journal 

Apartments are more expensive in the Denver area than they were a quarter ago, but landlords are also giving more discounts to renters, according to the Denver Metro Apartment Association.

The association's latest vacancy and rent survey showed that the average rental rate in the second quarter was $1,117 per month, up from $1,074 the quarter before.

At the same time, rent discounts averaged 9.3 percent, up from 6.9 percent in the first quarter.

 

Click Here to Read the Full Article | Denver Business Journal

US home sales increase 2.6 percent in June

  
  
  

WASHINGTON (AP) — Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.

The National Association of Realtors said Tuesday that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04 million homes. It marked the first time that sales have been above the 5 million-mark since October.

Even with the three months of increases, however, sales were still 2.3 percent below the sales rate in June of last year.

Click Here to Read the Full Article | Denver Business Journal

Denver, Vail, Aspen hotels rank among world's best

  
  
  

By:Ed Sealover, Denver Business Journal

Colorado's luxurious lodging facilities are shining again, as its hotels and resorts claim a number of spots on Travel + Leisure magazine’s World’s Best Awards, including two ranked among the globe’s top 100 and one Denver hotel among America’s top 25 large-city properties.

In addition, one Aspen hotel ranks among the top 50 resorts in the country and boasts the top hotel spa in the world in the annual awards, which are determined by reader survey and featured in the July issue of the magazine.

The Four Seasons Resort & Residences, Vail drew the highest accolades in the state, ranking 57th in the world among all properties. The Sebastian Vail — A Timbers Resort, also earned a spot on the prestigious list of top 100 hotels worldwide, coming in at No. 98.

Click Here to Read the Full Article | Denver Business Journal

Former Burnsley Hotel reopens as apartment building

  
  
  

RedPeak Properties has reopened the former Burnsley Hotel building as an apartment house after a $7 million renovation, Inside Real Estate News reports.

The 51-year-old building, which RedPeak bought from Joy Burns last year for $10 million, has been renamed "1000 Grant The Burnsley." The 17-story apartment building is at 1000 Grant St. in Denver.

The 86 hotel rooms were converted to apartments as part of the renovation. The monthly rent starts at $1,530. About a third of the units have already been leased.

Click Here to Read the Full Article | Denver Business Journal 

Inflation in Colorado and the West takes a break, but annual price gains still high

  
  
  

By: Mark Harden, Denver Business Journal  

Consumer prices in Colorado and other western states rose 0.1 percent in June from the previous month, a much smaller month-over-month rise than May's 0.6 percent monthly gain, federal officials reported Tuesday.

But prices in the West rose 2.3 percent over the 12 months ending in June, the same year-over-year increase as in May and tied for the highest annual gain since October 2012, the U.S. Department of Labor's Bureau of Labor Statistics said.

The good news was that the upward trend of inflation in the western states was halted last month, at least temporarily. The rate of year-over-year gains in the Consumer Price Index (CPI) had been rising over the last few months.

Click Here to Read the Full Article l Denver Business Journal 

Denver-area home prices exceed pre-recession peak, says Zillow

  
  
  

Home values in the Denver metro area have gone above and beyond their highest pre-recession levels, and are predicted to keep rising, according to the data released Monday by Zillow.com.

In addition to exceeding their previous peak, home values are expected to continue their upward trend, growing by 1.8 percent over the course of the next year, from first-quarter 2014 to the same period in 2015.

Nationally, home values are expected to increase by 4.2 percent over the next year.

Click Here to Read the Full Article | Denver Business Journal 

Colorado gains 3,000 jobs; sharp drop in unemployment

  
  
  

Colorado gained 3,000 payroll jobs in June from the previous month, and the state's unemployment rate dropped three-tenths of a point, to 5.5 percent, the Colorado Department of Labor and Employment reported Friday.

But the Colorado job gain was driven by increased government hiring, with public sector payroll jobs increasing by a net 3,300 last month and private sector positions declining by 300, CDLE, monthly report said.

And while the drop in the state's unemployment level brought that closely followed measurement to its lowest point since October 2008, the decline was partly driven by a 1,600 decrease in the state's labor force (defined as working people plus unemployed people actively seeking work). But the state also gained thousands of jobs in June, CDLE said.

Click Here to Read the Full Article | Denver Business Journal 

Pinnacle Real Estate Advisors Volunteers at Brother’s Redevelopment 36th Annual Paint-A-Thon

  
  
  

On Friday, Pinnacle Real Estate Advisors, LLC spent the day volunteering at Brother’s Redevelopment 36th annual Paint-A-Thon and painted a home for an elderly woman in South Denver.  Brother’s Redevelopment Paint-A-Thon works with sponsors to help paint the homes of income-qualified senior and disabled homeowners in cities across the Front Range.

 

Click Here to learn more about Brothers Redevelopment, Inc.


Pinnacle Real Estate Advisors Welcomes Brent Hubbell

  
  
  

describe the imagePinnacle Real Estate Advisors, LLC is pleased to announce that Brent Hubbell has joined our team as an Associate Advisor.  Prior to Pinnacle, Brent worked as a Vice President with FirstBank where he was responsible for originating, underwriting and managing commercial relationships. Brent’s experience as a commercial loan officer enables him to understand real estate transactions from both the real estate side as well as the financing side. Brent graduated from the University of Colorado at Boulder with a degree in finance.  He will focus in the multifamily product type in Colorado Springs and Pueblo. 

Click Here to View Brent's Bio

Happy Fourth of July From Pinnacle Real Estate Advisors

  
  
  

 Happy Fourth of July From Pinnacle Real Estate Advisors    

4th July

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