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Falcon commercial space: too high or just right

Some business owners looking to set up shop in Falcon have expressed concern that leasing commercial space in the area is too costly, compared to Colorado Springs. The NFH researched leasing costs in Falcon and Colorado Springs in areas closest to Falcon, with additional information for downtown Colorado Springs and Manitou Springs. Results proved the old adage is true: Itís location, location, location.And Falcon seems to have ìthe location elementî as a fairly new and growing marketplace and a desirable place to live and work.Below is a breakdown of costs for currently available spaces. The prices shown do not include the triple net (NNN) costs unless otherwise indicated. According to the website, investopedia.com, the NNN costs are the net real estate taxes, the net building insurance and the net common area maintenance on the leased space.Falcon locationsFrom http://commercialsearch.com

  • 7376 McLaughlin Road ñ- Shops at Woodmen Hills
    • Available spaces ó 2,400 square feet; 1,500 square feet; 1,500 square feet; 4,500 square feet
    • Price ó $14 per square foot per year
    • Other space available at this address ó 4,108 square feet
    • Price ó $17.50 per square foot per year
  • 11550 Meridian Market View
    • Available spaces ñ- 1,400 square feet; 1,400 square feet; 1,995 square feet
    • Price ó Broker Tricia Freeman said the prices of the locations at this address are $27 per square foot per year for the smaller spaces and $25 per square foot per year for the larger space.
From http://loopnet.com
  • Shops at Meridian (new shops going in at Meridian Road and Stapleton Road)
    • Available space ñ- 9,125 square feet
    • Price ó $14 per square foot per year
  • Falcon Town Center ñ Safeway complex
    • Available spaces ñ- 1,200 square feet; 4,400 square feet
    • Price ó $18 to $22 per square foot per year
From http://commercialiq.com
  • 7360 McLaughlin Road
    • Available space ñ- 1,200 square feet
    • Price ó $13 per square foot per year
Colorado Springs locationsFrom http://showcase.com
  • 5988 and 5998 Stetson Hills Boulevard ñ Ridgeview Marketplace
    • Available spaces ñ- 1,500 square feet; 1,085 square feet
    • Price ó Broker Rick Helmonds said the price of the locations in this marketplace is $36 per square foot per year, including the NNN costs.
From http://coloradospringscommercialproperties.com
  • 1075 Ford Street
    • Available space ñ- 2,760 square feet
    • Price ó $7 per square foot per year
  • Tutt Commercial Center
    • Available spaces ñ- 1,540 square feet; 1,630 square feet
    • Price ó $20 per square foot per year
  • 5527 Powers Center Point
    • Available spaces ñ- several spaces ranging from 1,200 square feet to 2,400 square feet
    • Price ñ- the average price is $15.50 per square foot per year. The listing states the rate is $10 per square foot for the first year, then $12 per square foot for the second year, then $1 per square foot increase for every year after that.
  • 5050 Edison
    • Available spaces ñ- 1,314 square feet; 706 square feet; 382 square feet; 414 square feet
    • Price ñ- prices range from $10.03 per square foot per year to $11.59 per square foot per year.
  • 6140 Tutt Boulevard
    • Available spaces ñ- 3,784 square feet; 2,645 square feet; 1,200 square feet
    • Price – $15 to $16 per square foot per year (depending on location of the space within the building).
  • 6160 Tutt Boulevard
    • Available space ñ- 1,796 square feet
    • Price ó $14 to $17 per square foot per year (depending on location of the space within the building).
From http://coscommercial.com
  • 4108 Austin Bluffs Parkway (anchored to Walmart)
    • Available space ñ- 1,200 square feet
    • Price ñ- Broker Greg Kaufman said the price for this space is $19 per square foot per year, including the NNN costs.
Downtown and central Colorado SpringsFrom http://coscommercial.com
  • 2 North Cascade Avenue
    • Rate ó $14.50 per square foot per year (there are no NNN costs for this property)
    • Operating expenses ó $8.54 per rentable square foot per year. Broker Greg Phaneuf said the total cost per square foot per year is $23.04 (the rate plus the operating expenses).
      2723 North Nevada Avenue
    • Rate ó $5.95 to $10.00 per square foot per year, plus NNN costs
    • Operating expenses ó $2.50 per rentable square foot plus utilities and janitorial servicesTotal cost per square foot per year ó $8.45 to $12.50 per square foot per year, plus NNN costs, utilities and janitorial services
  • 13 South Tejon Street
    • Rate ó $6.00 per square foot per year, plus NNN costs
    • Operating expenses ó $71.5 per rentable square foot per year
    • Total cost per square foot per year ó $13.15 per square foot per year, plus NNN costs
  • 90 South Cascade Avenue
    • Rate ó $19 per square foot per year (there are no NNN costs for this property)
    • Operating expenses ó $7.78 per rentable square foot per year
    • Total cost per square foot per year ó $26.78 per square foot per year
Manitou Springs locationsFrom http://comercialiq.com
  • 29 Manitou Avenue
    • Rate ó $10 per square foot per year (from http://cityfeet.com)
  • 819 Manitou Avenue (the main street through town)
    • Rate ó $19.20 per square foot per year, plus NNN costs
  • 67 Beckers Lane
    • Rate ó $11.96 per square foot per year, plus NNN costs

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