Employment growth in the Denver metro area is anticipated to be slow for the 4th quarter of this 2010, according to the most recent Manpower Employment Outlook Survey. The survey found 10.0% of the employers surveyed anticipated staff increases by their company in the period, while 11.0% anticipated layoffs, 75.0% anticipated no change and 4.0% were unsure. Nationwide, the survey found the first two measures to post respective marks of 15.0% and 11.0%.

The Federal Housing Administration has announced a new program for homeowners.  To begin this week, it is to aid homeowners whose mortgage now exceeds the value of their homes by allowing them to refinance 90.0% of the original mortgage amount.  To be backed by the government, it also allows investors of these instruments the choice of which mortgage owners in their portfolios will be allowed to participate, an option that is hoped to increase the likelihood of the investor to offer the mortgage borrower a reduced mortgage amount instead of foreclosure.  However, this has been met with skepticism, since investors are not known to offer reduced mortgages unless the current mortgage meets or exceeds the current home value by 40.0%.  Additionally, those interested can only qualify if their mortgage exceeds their current home value by at 15.0%.

A 57-unit luxury apartment complex is currently under construction in northwest Denver by Central Street Development.  Located at 17th and Central streets, the 6-story complex will offer units as small as 570 SF to as large as 1,400 SF, while also providing a fitness center on the 2nd floor and retail and office space.

The U.S. Labor Department reports that the private sector added more jobs than expected in August.  According to the agency, the sector increased above the expected measure of 40,000 by 27,000.  As well, job losses for the month fell below the anticipated measure of 105,000 by 51,000.  However, the addition of 550,000 new workers to the labor pool increased the rate of unemployed by 0.1% to 9.6%.

The measure of the U.S. service sector continued to stay in positive territory in August.  Performed by the Institute of Supply Management, the measure of 51.5 last months is a decrease of 2.8-points from June, but is still above the benchmark score of 50 to indicate expansion.

The staffing firm of Adecco SA reports that it is experiencing a rebound in demand for temporary workers.  According to their figures, the demand for temporary workers, which is considered a leading economic indicator, posted its highest year-over-year growth rate since 1991 with a gain of 22.0%.  Additionally, the measure of demand for light-industrial workers increased at a year-over-year growth rate of 50.0%.  The increase adds greater confidence to the idea of a rebound for the national economy.

The measure of pending sales for existing homes notched a 5.2% increase from June to post 79.4 in July, reports the National Association of Realtors.  The measure is above the measure of 74.9 anticipated for the period by economists surveyed by Thomson Reuters.  The West posted the strongest gain in the period at 12.0%, and was followed in order by the Northeast at 6.0%, 4.0% in the Midwest, and the South at 1.0%.

The redevelopment of communities affected by foreclosures is to receive increased aid from the First Look program.  Announced last week by the U.S. government, the program will now give advance notice to state and local governments of foreclosed homes available for sale and allow the local governments to purchase these properties at a discount of 1.0%.

The U.S. Commerce Department reports that factory orders increased in July. Boosted by the transportation sector, the measure increased 0.1%.

The International Council of Shopping Centers reports that the month of August posted positive growth in retail sales.  According to the agency, the month experienced a gain of 3.2% from July.

The 97,957 SF self-storage facility at 3893 Steele Street in Denver has been purchased for $3.55 million, or $36/SF.  Listed by Ben Vestal and Joan Lucas of Argus Self Storage Sales Network, the property was part of a 1031 exchange between buyer Ventana Capital and seller Denver Storage Solutions LLC.

Joe Hornstein and Bobby Hutchinson of Pinnacle Real Estate aided Mann fo the Fifth Power Enterprises Inc. in the purchase of an industrial building in Denver.  Sold by Industrial Properties Inc. Inc. via Justin Krieger and Rob Edwards of Pinnacle Real Estate, the property is located at 4970 Cook Street and totals 20,000 SF.

CresaPartners agent Brendan Fisher aided Workflow One in the renewal of their lease with Cobalt Industrial REIT II For 51,200 SF.  Set for the Denver Business Center 5 of 11175 East 55th Avenue, the owner was represented by CB Richard Ellis agents Mike Camp and Jim Bolt.

Vacancy for rental housing units in the Denver metro area increased to 3.8% for the 2nd quarter of 2010, according to a report conducted by the Colorado Division of Housing. Of the counties used for the measure, Boulder/Broomfield boasted the highest average rent ($1,518.43) and the highest vacancy rate (8.6%), while Denver posted the lowest rental rate ($962.91) and Douglas and Arapahoe both posted the lowest measures for vacancy at 2.9%. The average monthly rental rate of $1,027.78 for the period is a decline of $7.78 from the 1st quarter measure and an increase of $11.43 in the 2nd quarter of 2009.

The state of Colorado posted negative growth in the regional Business Conditions Index in August, reports Ernie Goss of the Goss Institute for Economic Research (Creighton University) in his survey of economic health for the states of Colorado, Utah and Wyoming.  According to the survey, the Colorado economy clocked a 3.2-point decrease in the measure from July to post 53.0.  However, it is the 11th consecutive month in which the measure stayed above the benchmark score of 50 to indicate positive growth.

The Arvada Marketplace East retail center in Arvada was exchanged between buyer NewMark Merrill Mountain States and seller CapMark Bank for $3,350,000, or $20/SF.  Totaling 164,611 SF at the NEC of I-70 and Wadsworth Boulevard, the purchase was performed by managing director and principal Sandy Sigal and director of leasing and acquisitions Jim Patton, with representation performed by Cushman & Wakefield agent Timothy Richey.

The U.S. Labor Department reports that a lower number of metro areas experienced unemployment increases in July.  According to the agency, the total number of cities posting jobless rate increases decreased from June to 176 in the month.  Additionally, the survey found 152 of the 372 metro areas surveyed posted jobless rate decreases in the period.

The Mortgage Bankers Association reports that the number of applications for new mortgages continued to rise last week.  Led by phenomenally low interest rates, the 2.85 increase in refinance applications and the 1.8% increase in new home mortgage applications affected the overall measure by 2.7%.

The index of national factory activity increased 0.8-points from July to post 56.3 in August, reports the Institute of Supply Management.  It is the 13th consecutive month the measure has stayed above the benchmark score of 50 to indicate positive growth.

The Broomfield Corporate Center office building has been exchanged for $12.85 million, or $138/SF.  Totaling 92,800 SF at 11525 Main Street, California State Automobile Association Inter-Insurance Bureau sold the property to Columbia Industrial Properties Midwest via Grubb & Ellis Co. agents Riki Hashimoto, Dan Grooters, Ed Suharsju and Seth McKinnon.

The most recent measure of home-price appreciation by S&P/Case-Shiller found the Denver market to continue to improve.  According to the June 20-city reading, the 1.8% gain in the year-over-year measure was its 8th consecutive increase and placed it at 11th among the markets in the period, while its 0.7% gain from May was only its 4th consecutive monthly gain.  As well, the average rate of increase for home appreciation in the 20-city measure surpassed both measures for the Denver market with respective readings of 4.2% and 1.0%.

The measure of home price appreciation posted its 3rd consecutive month of increases with a 1.0% gain in June from May and an increase of 3.6% in the past year, report the firms of Standard & Poors and Case-Shiller.  The 20-city measure found price appreciation occurred in 19 of the markets from May, with Las Vegas being the only market to decline in the period with a measure of 0.6%.

The Federal Deposit Insurance Corp. reports that its measure of net income made by banks increased to a near 3-year high in the 2nd quarter.  Led by big banks, the measure overcame $4.4 billion decline recorded in 2nd quarter of 2009 by $26 billion in the period.  Additionally, while the list of problem banks increased from the 1st quarter measure of 775 to 829, the 1.4% decline in lending in the period is far less than the 7.5% decline recorded in the year-ago measure, indicating that the lending standards for some forms of credit are loosening.

The index of consumer confidence increased 2.5-points from July to post 53.5 in August, reports the Conference Board, who conducts the survey. The measure is used to gauge consumer spending.

The 20,653 SF office building at 9563 South Kingston Court in Englewood has been purchased for $2.5 million, or $121/SF.  Located in the Meridian International Business Center and known as Offices on the Fairway - Building B, buyer Apollo Energy purchased the property via Tony Oliver of Oliver Real Estate from Fairway Office Properties LLC, who was represented by Ron Allum and Richard Schepis of Cassidy Turley Fuller Real Estate.

Key Equipment Finance renewed an office lease in Superior with landlord Country Asset Management via Jones Lang LaSalle agent Eric Brynestad.  Totaling 53,834 SF in the 91,448 SF building at 1000 South McCaslin Boulevard, agency for the landlord was provided by Cassidy Turley Fuller Real Estate agents Chris Ball and Dick Tinkham.

The SWC of East 17th Avenue and Lafayette Street has been chosen as the site of a new 95,000 SF medical office building.  To break ground in the middle of next year, the facility has already locked a tenant for 25.0% of the building.  Current plans for the building include retail and restaurant space on the ground floor, with floors 5-8 designed to offer floor plates as large as 25,000 SF.

The town of Castle Rock has announced that it will no longer offer shuttle bus service.  Current budget woes were blamed for the decision as well as the installation of a fee for the service in March that served to weaken ridership.

The planned Josephine Commons senior housing project is the recipient of a $1.25 million tax credit from the Colorado Housing and Finance Authority.  Approved by the city council of Lafayette two weeks ago, the initial phase of the development is to be a 74-unit apartment building.

The measure of personal spending improved in July, reports the U.S. Commerce Department.  The agency reports the measure increased 0.4% in the period, or $44.1 billion.  Additionally, the personal income measure increased 0.2%, or $30 billion.

The Assessor Office for Jefferson County reports that the county is forecast to experience a significant decline in general revenue funds in 2012 due to the decline in value of commercial properties.  According to the office, the value of commercial properties will decrease by about 7.0% in the year, affecting the amount received in general revenue funds by about $8 million.

Frontier Airlines is to increase its destination base from Denver International Airport when it begins once-weekly service to the Costa Rican city of Liberia in February.  The service is to be offered seasonally.

The filing of bankruptcy by Mexicana Airlines has resulted in the loss of flights by the airline from Denver International Airport.  The airline provided flights from the airport to Mexico City.

The U.S. Commerce Department has revised its measure of Gross Domestic Product growth for the 2nd quarter of 2010. The agency now reports that the measure increased by 1.6% in the period, which is a decline of 0.8% the initial estimate of 2.4%.

Recent surveys of economic strength in the Denver metro area posed mixed results in June.  Performed jointly by the University of Colorado Denver Business School and the Denver chapter of the National Association of Purchasing Management, the Purchasing Managers Index for manufacturing decreased 5.9-points from June to post 51.43 in June, while the services index posted a increase of 6.01-points to 53.75.  Both measures consider a score above 50 to indicate positive growth.

A report released by the Mortgage Bankers Association indicates that the measure of loans delinquent by 30 days increased from the 1st quarter measure of 3.31% to post 3.51% in the 2nd quarter.  The increase is considered attributable to the weak job market.

CB Richard Ellis agents Frank Kelley and Doug Bakke aided Stream Realty Partners in the purchase of the 30,119 SF flex building at 7579 West 103rd Avenue in Westminster.  General America Corp., the seller, sold the property for an undisclosed amount via Grubb & Ellis Co. agents Mark Stables, David Horowitz and Jim Kerrigan.

The Legend Oaks Apartment complex in Denver has been exchanged between seller Legend Oak Apartments Inc. and buyer Wasatch Property Management Inc. for $43.92 million, or $90,000/unit.  Totaling 488 units at 1250 South Dayton Court, the transaction was managed on behalf of the seller by Moran agent Pamela Koster.

An office in the Meridian area of Douglas County was exchanged between buyer WYOTEX Oil Co. and seller Fairway Office Properties LLC for $2.5 million, or $123/SF.  Totaling 20,300 SF at 9563 South Kingston Court, the property is known as Building B of Offices at the Fairway.

The historic 110,000 SF Hangar 2 building along East Academy Boulevard has been exchanged between buyer Hangar 2 Partners LLC and seller Wings Over the Rockies Air & Space Museum for $2 million, or $18/SF.  Part of the former Lowry Air Force Base in Denver, the property is to be resurrected as a mixed-use development that will open in the spring of 2011.

First American CoreLogic reports that the number of homes whose value has fallen below that of their mortgage has declined to 23.0%, or 11 million mortgages nationwide. Among the states, Nevada, Arizona, Florida, Michigan, and California posted the highest concentrations.

The National Association of Realtors reports that its index of commercial real estate conditions posted its 3rd consecutive increase in the 2nd quarter.  According to the agency, while the measure of 41 for the period is well below the measure of 100 needed to reflect a balanced market, it is still an increase of 2.8% from the previous quarter.

Construction of the long-planned rail line to Denver International Airport from downtown Denver officially began last Thursday.  To cost approximately $1 billion, it is estimated that the local economy will benefit by the creation of as many as 5,000 jobs during the height of the construction process.

The latest measures of foreclosure in the 12 urban counties in Colorado found measures for both filings and sales declined in July. Performed by the Colorado Division of Housing, it found the measure of filings declined 8.7% from July 2009 to 2,718 and sales for the period declined by 15.4% to 1,581.

Credit reporting agency TransUnion LLC reports that the measure of credit card debt declined 4.4% in the 2nd quarter.  The agency reports that the measure of $4,591 for average debt was the lowest reading recorded since 2002.

The outlook for the home market worsened in July, according to recent data by the U.S. Commerce Department.  The agency reports that the seasonally adjusted sales pace of 276,000 units for new homes in the month set a new record low for the measure and resulted in a decline from June of 12.4%.  The measure was accompanied by a supply rate of over 9 months and a median sale price of $204,00.

The U.S. Commerce Department reports that an increase in aircraft orders raised the measure of durable goods in the month of July by 0.3%.  However, without the sector, the measure declined by 3.8%.

The Colorado Department of Agriculture reports that the $508.9 million generated by agricultural exports from the state in the first half of 2010 is a 27.0% increase from the same period of 2009.  Accounting for the greatest increase in the measure was meat products, which increased 21.0% to $322.3 million, followed by hides and skins, which posted a 91.0% increase to $92.3 million, and dairy, eggs and honey, which increased 29.0% in the period to $16.4 million.

Sales of new homes in the Western region of the United States fell behind the national average in the month of July, reports the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. The agencies report that sales in the region, which includes Colorado, decreased 54.6% from July 2009 and 25.4% from June to 44,000. Nationwide, sales decreased by 32.4% and 12.4% for the respective periods to 276,000.

The Boulder City Council is to investigate new guidelines to implement for the downtown Boulder area, which runs between Arapahoe Avenue and Pine Street and Ninth to 18th streets.  To revisit the issue on October 5th, the proposed guidelines are to affect Canyon Boulevard by enhancing access from the boulevard at 14th, 15th, 16th and 17th streets; establishing on-street bike lanes; and encouraging taller buildings.  Additional changes to the area include increasing the height restriction of buildings from 35 feet to 38 feet, requiring open space to be included in buildings more than 40 feet tall, and disallowing the inclusion fo below-grade floor area in total allowed square footage.

July was a dire month for the residential real estate market, reports the National Association of Realtors.  Led by a 35.0% decline in the Midwest, the agency reports that existing home sales set a new monthly record low of 3.83 million, which is a decline of 27.0% from June and well below estimates by analysts polled by Reuters of a 12.0% decline.  The agency also reported the median price declined from June by 0.2% to $182,600.  However, this is an improvement from July 2009 of 0.7%.

A surge in mortgage applications occurred last week as homeowners sought to take advantage of super-low mortgage rates, reports the Mortgage Bankers Association.  The agency reports a 17.1% increase in applications to refinance increased the total measure 13.0% to place the measure at a a 15-month high.

Former U.S. Department of Housing and Urban Development secretary Henry Cisneros expressed optimism about the housing market for Colorado in his most recent visit.  Speaking in Boulder on Tuesday, he stated that the growing strength of the Colorado economy should bring improvement to the housing market statewide and especially along the Front Range and the Denver metro area.

The 6-building Iliff Office Park in Aurora was exchanged between and undisclosed buyer and seller Mile High Banks of Colorado for $1.9 million, or $26/SF.  Located at 2323 South Troy Street, the buyer was aided in the purchase of the 72,000 SF property by Unique Properties LLC.

An industrial building totaling 63,488 SF was exchanged for $3.12 million, or $49/SF.  Allied Fitting LP purchased the property via Gruber Commercial Real Estate Services agent Jim Gruber from seller Environmental Testing, who was represented by Jones Lang LaSalle Americas Inc. agents Carmon Hicks and Mitch Zatz.  Known as the Montbello Industrial Park, the property is located in the Central East Interstate 70/Montbello Industrial Market.

A study conducted by the Colorado Association of Realtors in collaboration with Colorado State University indicates that home price appreciation in the western slope of Colorado surpassed all other regions of the state in the years of 2000 - 2010.  According to the study, the 68.5% increase recorded for the region is well above the next highest measures of 43.2% and 30.6% respectively posted for the Mountain Resort and Northern Colorado areas.  In addition, the Denver metro area posted only a modest gain of 7.1% in the period, with Douglas County boasting the highest measure at 28.3% and Adams County posting a negative measure of 2.7%.  The survey also found that in the years of 2008 to 2009 only the markets of the Denver metro area and the Mountain Rural region posted positive appreciation at respective measures of 2.1% and 2.2%, and that within the Denver metro area the counties of Denver and Adams posted the highest gains in the period at respective measures of 5.2% and 4.6%, while Douglas County led the region for declines with a negative measure of 3.9%.

Unique Properties represented an undisclosed buyer in the purchase of the 28,800 SF industrial building in Wheat Ridge.  Located at 4860 Van Gordon Street, seller Wells Fargo Bank Minnesota N.A. sold the property for $1.03 million, or $36/SF.

The luxury home market in the Denver metro area experienced a decline in sales in July, according to data compiled by Metrolist Inc. and released by Coldwell Banker Residential Brokerage of Denver.  According to the agency, sales in the month declined by 2 from the year-ago measure and 17 from June to 50, but the median sale price stayed unchanged at $1.22 million.

Commercial property values are starting to improve, according to a recent survey by the Investment Property Databank.  Its US Quarterly Property Index posted its first increase in 2 years with a 2.2% increase in the 2nd quarter, reflecting a decrease of 37.5% for net outflows from the previous quarter to $347 million and a 10-basis point increase in average income returns of funds in the period to 1.8%.

The most recent survey of the economy of the Denver metro area concludes that it is below expectations.  Released by Patty Silverstein, who serves as chief economist for the Metro Denver Economic Development Corp., the survey found the area to still be declining in jobs and that it is currently below the same period of 2009 for employment.  The forecast concluded that despite an increase in job growth within the last half of the year, the annual growth rate for jobs will be -1.1%.

The Regional Transportation District is to hold meetings in September to discuss rate increases proposed for the coming year.  To be decided by vote in late October, the increase will affect local fares by $0.25, Express and Regional fares by $0.50, and SkyRide fares by $1.00.  The meetings are to occur twice daily on the dates of September 16th and 23rd.

The measure of unemployed in Colorado stayed unchanged in July from its June measure of 8.0%, reports the Colorado Department of Labor and Employment.  According to the measure, the number of counties in Colorado that experienced increases in unemployment in the period totaled 11, while the number of unchanged totaled 3 and the number experiencing declines totaled 50.  As well, Dolores County posted the highest unemployment rate of all counties in the period at 14.2%, while the lowest was held by Hinsdale County at 2.5%, and Adams County posted the highest measure in the Denver metro area at 9.1%.

The U.S. Department of Labor reports that July marked an increase in Colorado for the number of businesses that lay off at least 50 persons.  The agency reports the number of businesses that met the benchmark increased by 2 from June to 16, affecting a total of 1,552 persons.  However, the year-to-date total of 54 companies and 6,815 initial claims for unemployment insurance are respective declines of 31 and 4,705 from the same period of 2009.

Two buildings totaling 77,000 SF at 1048 Pearl Street in Boulder have been sold to Karlin Real Estate.  Having long-served as the headquarters for the Boulder Daily Camera Newspaper, owners MediaNews Group and E.W. Scripps sold the property for $9 million, or $117/SF.  Jones Lang LaSalle agents Eric Carlbom and Eric Brynestad represented the seller and Gibbons-White agent Lynda Gibbons represented the buyer.

The U.S. Labor Department reports that a higher number of states experienced unemployment increases in July.  According to the agency, the total number of states posting jobless rate increases increased from June measure to 14.  Additionally, the survey found 18 of the 50 states posted jobless rate decreases and another 14 were unchanged.

An index of commercial property values recorded a 4.0% decline in June.  Performed by Moodys and Real Capital Analytics, the 2010 All Property Type Aggregate Index posted declines of 3.9% for office, 4.0% for apartments, 10.9% for retail, and 2.9% for industrial prices in the 2nd quarter from the previous quarter.  However, the total measure has improved from its recessionary low set in October 2009 by 4.2%.

Officials for HealthOne dedicated the new Rocky Mountain Hospital for Children last Thursday.  To be the only the second full-scale hospital for children in the metro area when it officially opens later this month, the 160,000 SF, 53-bed facility at 1719 East 19th Avenue was built at a cost of $130 million.  The facility is expected to be followed by a second phase that will increase the neonatal intensive care unit by 84 beds.

Two hotels near Denver International Airport were recently exchanged between buyer Stonebridge Capital Partners and seller FirsTier Bank of Cheyenne, WY dba First Inn Franchise Inc.  Separately known as the Holiday Inn & Suites and the Holiday Inn Express, the former property totals 161 units and is located at 6900 Tower Road, and the latter is located at 6910 Tower Road.  A sales price for the transaction was not disclosed.

A report by Metrostudy indicates that construction of new homes in the Denver metro area should decline in the 2nd half of this year.  The report found that although the 2nd quarter of 2010 posted a 58.0% increase in starts from the 2nd quarter of 2009 due to the availability of a federal tax credit in the period, the remainder of the year will not benefit from the credit and the market will also be weighed by the 3.0% decline in employment that has occurred over the last 12 months.  The agency reports that the federal tax credit affected the construction of new homes in the market by raising the measure of homes built for the price range of $300,000 well above the 2nd quarter 2009 tally of 24.0% to account for 51.0% of the total measure.

The overall vacancy rate for apartments in the entire state of Colorado decreased in the 2nd quarter of 2010 from the year-ago measure, according to a study conducted by Gordon Von Stroh on behalf of the Colorado Division of Housing. According to the report, the vacancy rate decreased from the year-ago measure of 9.1% to 6.2% in the quarter, with Colorado Springs and Pueblo posting the lowest and highest vacancy rates of all the major metro areas in the period (5.8% and 10.4%, respectively) while the average monthly rent increased $24.92 from the year-ago measure to $862.24.

The city council for Wheat Ridge made the first step last week in adding new options within the city for pedestrians and bicyclists.  Done through the advancement of a master plan, it will look at ways to increase these options as well as expanding accessibility to metro-area trails.

The Index of Leading Economic Indicators posted a 0.1% increase in July, reports the Conference Board, who conducts the survey. Used to predict economic activity for the next 3 to 6 months, the increase is less than the 0.2% measure forecast by economists polled by Thomson Reuters.

Casinos in Colorado posted a respectable improvement in revenue from June, reports the Colorado Division of Gaming.  The agency reports a 13.4% increase in the measure from June to $70.1 million in July, with Central City leading the gaming towns with a 19.6% increase to $6.3 million.  However, the agency also reports the total measure of revenue from gaming towns for the month is a decline 8.0% from the year-ago measure of $76 million, and that the least decline of all gaming markets in the period occurred in Central City at 4.4%.

Construction activity for the western states improved in July.  According to the American Institute of Architects, the Architectural Billings Index increased for the western states from the June reading of 43.6 to stand at 45.2, which is 4.8-points below the score of 50 necessary to indicate growth.  Additionally, the West scored the lowest of all regions in the survey, with the highest reading attained by the South at 47.9, followed by the Northeast at 47.2, and the Midwest at 46.7.  The survey posted a 1.9-point increase in the national measure to 47.9.

The Maples at Crestwood Apartments in Federal Heights was recently exchanged between buyer The Bascom Group LLC and the seller, an unidentified housing authority, for a price of $7.9 million, or $26,333/unit.  Totaling 300 units at 1327 West 84th Avenue, both sides to the sale were represented by Tim Shunta of Unique Properties LLC-TCN Worldwide.

An office building in Brighton was recently exchanged for $2.5 million, or $31/SF.  Located at 450 South Fourth Avenue, the city of Brighton purchased the 80,000 SF property from Adams County to serve as administrative offices for the city.

The 90,000 SF industrial building at 18300 East 28th Avenue in Aurora was recently part of a portfolio sale valued at $1.3 billion.  Sold for $7.39 million, or $82/SF, the property was exchanged between buyer Dividend Capital Total Realty Trust Inc. of Denver and seller iStar Financial Inc.

The roughly 92,000 SF Symes building at 820 16^th Street in downtown Denver has been purchased by 820 16th Street LLC for $5.67 million, or $62/SF.  Exchanged on behalf of seller Capmark Bank via Grubb & Ellis agents Riki Hashimoto and Dan Grooters, agency for the buyer was provided by Tim Finholm and Sam Leger of Unique Properties LLC-TCN Worldwide.

Tenant Rivet Software made a lease for 31,819 SF with landlord CLF South Monaco Denver for the address of 4340 South Monaco Street in Denver.  Agency for the tenant was provided via Frederick Ross agents Dan Burke, Tom Lee and Jon Tilton and for the landlord via Colliers International brokers John Hutto, Bob Whittelsey and Katy Bryan.

Jones Lang LaSalle agent Jessica Kokish aided the National Park Service in the signing of their lease with Watumull Properties for 28,461 SF at 66 South Van Gordon Street in Lakewood.

Henry Wurst Inc. expanded their lease at the Centerpark industrial park by 22,950 SF via Gruber Commercial Real Estate Services agent Jim Gruber.  Located in Building C at 5000 Osage Street, the leased space now totals 113,350 SF. Negotiating the lease for the landlord, DCT Industrial Trust, were Bill Thompson, Jim Bolt and Mike Camp of CB Richard Ellis.

Bill Thompson, Jim Bolt and Mike Camp of CB Richard Ellis aided Brite-Line Technologies in the renewal of their lease for 52,915 SF at 10660 East 51st Avenue in Denver.

The measure of industrial production increased by 1.0% in July, according to the Federal Reserve.  The measure of factory output posted its largest increase since August 2009 at 1.1% in the month and production of business equipment maintained positive growth with an increase of 1.8%.

The U.S. government reports that the measure of wholesale prices, known as the Producer Price Index, increased 0.2% in July. Excluding food and energy costs to derive the core-PPI measure resulted in a 0.3% increase for the period.

The U.S. Commerce Department reports that residential starts in July increased 1.7% to post a seasonally adjusted annual rate of 546,000 in the month, while applications for building permits in the period decreased 3.1% to a seasonally adjusted annual rate of 565,000.  However, the measures are respective declines from July of 2009 of 7.0% and 3.7%.

A 1031 exchange for a 20,000 SF industrial property occurred between an undisclosed buyer represented by Pinnacle Real Estate and seller Industrial Properties Inc.  Located at 4970 Cook Street, the property sold for $1.5 million, or $75/SF.

Officials for Frontier Airlines have announced that the airline has reversed its decision to discontinue service from Denver International Airport to Aspen.  The route had previously been scheduled to end after September 30th.

The city of Longmont reports that revenue generated from sales and use taxes totaled just under $21.4 million for the year through June.  The measure is an increase of 3.3% from the same period of 2009.

The Jefferson Planning Commission has approved the final plat of a 230-unit residential development proposed by Shea Homes for the former Colorado Christian University campus near Morrison. The Lyons Ridge development is to be constructed by Shea pending its approval by the Board of commissioners for the County, which is to decide the issue on September 7th.

The Administrative Office of the U.S. Courts reports that the measure of 422,061 bankruptcy filings in the 2nd quarter of this year is the highest measure recorded since federal legislation to overhaul bankruptcy filings was approved in 2005.  Increasing 9.0% from the previous quarter, the measure brings the increase for the year ending June 30th to 21.0% for consumer bankruptcies and 9.0% for business bankruptcies from a year earlier.

A new medical campus is to be built in Frederick on 70 acres at I-25 and SR-52.  Done as joint venture between Longmont United Hospital and Poudre Valley Health System, construction on the site is to begin later this year with an urgent care center.

The former site of an Albertsons store in Broomfield has been sold for $6.5 million, or $127/SF.  Exchanged between buyer Westwood Financial Corp. of Los Angeles and seller SuperValu Inc. via SullivanHayes brokerage, the 51,306 SF building is located at 5150 West 120th Avenue in The Sheridan Crossing Shopping Center.

The firm of SullivanHayes Brokerage of Denver aided tenant OfficeMax Inc. in the signing of their lease for 100,507 SF from landlord Catellus Operating LP for the address of 4690 Geneva Street in the Stapleton Business Center in Denver.

The firm of SullivanHayes Brokerage of Denver aided tenant OfficeMax Inc. in the signing of their lease for 20,000 SF from landlord 15200 Commerce Partners for the address of 14030 East Mississippi Avenue in Aurora.

The recent expansion of flights to 10 destinations currently served by Southwest Airlines from Denver International Airport has increased the number of daily flights served by the airline from the airport to 144.  Currently offering 42 destinations from the airport, the airline increased the number of flights served daily to the destinations of Detroit, Indianapolis, Las Vegas, Minneapolis/St. Paul, Phoenix, San Francisco, St. Louis, Tucson, and Washington Dulles by 1 and increased the number of daily flights to Los Angeles from the airport by 2.

A survey of investment activity for the Denver metro area for the 2nd quarter of 2010 declined in the period relative to the 2nd quarter 2009. Performed by LoopNet Inc. of California, the survey found investment for both office and industrial properties fell from their year-ago measures of $677 million and $264 million to respective measures of $404 million and $188 million, but retail investment sales increased from $314 million to $631 million and apartments posted a $32 million increase to $454 million.  Additionally, while both office and industrial properties notched respective decreases in their price per square foot measures of $66 to $128 and $4 to $68, the retail sector notched a $117 increase to $242 and apartments improved in their price per unit measure by $8,165 to $85,907.

The latest survey of confidence among home builders found the measure declined in August.  Performed by the National Association of Home Builders, the measure posted 13 for the period, noting that its three primary components registered measures between 10 and 18.  The measure considers all score below 50 to indicate decline.

The U.S. Department of Labor reported that the Denver metro Consumer Price Index increased for the first-half of 2010 from the year-ago measure by 1.7%, but increased only 0.4% over the period when energy prices were excluded from the measure.

As many as 500 jobs are to be added to the Fort Collins economy in October.  Announced by Center Partners, the new jobs will be in the departments of sales and customer service.