Real Estate Blog

Last year, WeWork officials touted that the New York-based co-working space provider was on pace to be Denver’s single biggest office space user by 2020.

For those that thought that 606,000 square feet would be enough to meet the shared-office giant’s demand in the market, guess again. On Friday, Denver-based EverWest Real Estate Investors and partners announced they are leasing the entirety of the freshly renovated 86,000-square-foot Junction 23 building just north of Coors Field to WeWork.

With that building in the bag, WeWork officials this week shared updated growth projections for the Denver metro area. Using the company’s preferred metric — total number of desks available to clients — WeWork grew by 100 percent in Denver in 2018, from 2,060 desks at two locations at the start of the year to 4,100 desks in four locations by New Year’s Eve. In 2019, it aims to grow from 4,100 desks to more than 13,000 desks at 11 locations, a growth rate of more than 217 percent. That square foot..

Spring didn’t pass over the metro Denver housing market this year. Lower mortgage rates and a wider selection of properties trumped stormy weather, driving a rebound in sales in March, according to an update from the Denver Metro Association of Realtors.

Buyers purchased 4,162 homes and condos in metro Denver in March, a 20 percent increase from February. Compared to March a year ago, sales remain off 11.7 percent.

“Despite the bomb cyclone and cold spells, the market saw a seasonal simmer as spring picked up steam with real estate transactions in March,” said Jill Schafer, chairwoman of the DMAR market trends committee, in comments accompanying the report.

The inventory of homes available for sale rose to 4,314 in March, up 5.2 percent from February and 26.3 percent from a year earlier. The inventory of condos available rose to 1,978, up 3.3 percent from February and up 64.4 percent from a year earlier.

Listings took about a month, or 31 days on average, to sell after they hit the..

File those federal and state income tax returns by April 15, and don’t forget property taxes, which are due right behind them.

Those must be paid by April 30, unless the mortgage servicer took them out already, or a taxpayer has made a half payment already. In that case, they are due June 15.

Take solace, because homeowners in Colorado carry the third-lowest effective property tax rate of any state, only 0.51 percent versus 1.16 percent nationally, according to a tax survey from ATTOM Data Solution.

But don’t take too much solace. Colorado’s average home price is now fifth highest in the country, resulting in the 21st lowest average property tax bill, not third lowest. The average is $2,241 versus $3,498 nationally.

In New Jersey, the most burdened state, homeowners pay $8,780 on average and in Connecticut, they pay $7,222 on average.

RELATED: Denver-metro housing market springs to life in March

Of the five Colorado metros included in the survey, Boulder has the highest average p..

Life Time Work, the creative office division of Minnesota-based Life Time Inc., is opening its first two Houston coworking spaces in CityCentre and downtown this year, and it's still looking for more locations.

VanTrust Real Estate is ready to move ahead on a large warehouse for children's toy manufacturer Cra-Z-Art.

Evans General Contractors has picked up a permit to construct the 300,000-square-foot building at 10501 Cold Storage Road in Imeson Park.

VanTrust Executive Vice President John Carey said Friday that, once completed, the building will be purchased by The Silverman Group, which has leased it to New Jersey-based Cra-Z-Art.

He expects the building will be completed late this summer.

Construction…

The hotel owner is seeking final approval for its redevelopment plan.

The first quarter of 2019 marked the 34th consecutive quarter of positive absorption for the local industrial market, according new data from commercial real estate firm CBRE.

In local news:

The future of yet another historic property in Charlotte is in question with The Excelsior Club on Beatties Ford Road officially hitting the market. The Charlotte Observer notes the club, which closed in 2016, was once an exclusive social club for black business professionals and political figures.

“It has tremendous meaning, emotional resonance, with the local African American community,” Dan Morrill, director of the Charlotte-Mecklenburg Historic Landmarks Commission, told…

Industry insiders say the 18-story tower at 50 W. San Fernando St. will likely set the new high-water mark when it comes to price per square foot for downtown San Jose.

A San Francisco-based apartment investor has made its Nashville debut in the form of two deals totaling more than $80 million.

In the larger of the two, Hamilton Zanze Co. paid $56.65 million for the 865 Bellevue Apartments, located at 865 Bellevue Road, Nashville Post reports. The development includes 326 residences.

Hamilton Zanze also paid $23.5 million for the Post Ridge Apartments, with 150 units, at 595 Hicks Road, according to the Post.