Boulder real estate update

October 7, 2009 by
Filed under: Colorado, Home Searches 

cu_boulderThere are mixed-reviews over the status of Boulder real estate where there is no certainty as to the current status and future of the market and economy.  As most analysts believe the United States has seen the worst of the economic crisis, many people are leaning towards the belief that Boulder will begin to see marginal increases in its local real estate markets.  Boulder, alongside a number of other Coloradoan cities was significantly affected by the global recession that led to a number of foreclosures, financing problems, a rise in unemployment, and general panic in the world economy.

In the Boulder County Business Report, David Clucas reported on September 18, 2009 that the number of Boulder homes for sale rose as a result of businesses shuttering operations or partially shifting operations away from plants and factories in Boulder.  Fresh Produce Sportswear, Inc., a retail clothing company, shifted its productions to California and took as many employees as they could with them.  These listings have been added to several other houses and apartments that have already flooded the market.  Two 390-unit condominiums have been emptied and are up for sale while another company is planning on constructing a large corporate campus that will include 216 condominium units and 26 townhouses.

As with Denver’s industrial property sector, real estate in Boulder dedicated to the city’s extensive industrial businesses has seen remarkable improvement.  While not a complete return to pre-recession status, most businessmen and realtors are quite pleased with the city’s growth of what could be considered one of its most valuable economic drivers.  In Paula Moore’s August 28, 2009 article in the Denver Business Journal, there have been a “flurry of small industrial sales recently.”  According to a local broker, a property sale is “a win for everyone because companies can grow and add back jobs while the previous owner no longer has the liability of the real estate.”  One of the most notable transactions noted by Moore was the $2.08 million purchase of a 15,000-square-foot office/industrial building by CBI 4900 Nautilus LLC and the $3 million investment of Aurora Steel Properties LLC into a warehouse.

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