Frontier Airlines has agreed to extend lease with Runway Properties and Pawnee Transportation for the address of 7001 Tower Road.  Aided by Jamie Gard of Frederick Ross, the lease totals 70,000 SF and was transacted on behalf of the landlord via Grubb & Ellis agent Ryan Stout.

A report by Zillow Real Estate Market Reports states that the percentage of over-mortgaged homes in the U.S. is on the decline.  According to the report, the measure decreased from 23.0% in the year-ago measure and 23.3% in the previous quarter to post 21.5% in the 2nd quarter of 2010.

As many as 300 new jobs are to be created this month via a job fair hosted by the Four Seasons Hotel.  The company is making the hires for its anticipated opening in Mid-October.

The 64,000 SF Denver Lutheran High School building at 3201 West Arizona Avenue in Denver has been exchanged between buyer School District No. 1 and seller Colorado Lutheran High School Association for $5 million, or $78/SF.  Colorado Lutheran School will continue to occupy the property via a lease back agreement so that it look for a new location to open in the period of 2012-2013.

The Frederick Ross Company aided Kaufman&Broad in the extension of their lease agreement for building No. 1 at 11551 East Arapahoe Road in the Lincoln Executive Center.  Located in Centennial, the lease space totals 24,377 SF.

Construction has already begun on a new flyover for the interchange of Santa Fe and C-470.  To be completed at a cost of $25.7 million, the flyover will aid in eliminating congestion at the current interchange, which is estimated to handle 600 vehicles in the morning peak hour.

The Federal Reserve reports that the volume of consumer borrowing declined by $1.34 billion to post a total value outstanding of $2.418 trillion. The non-revolving credit measure, which includes auto loans, increased in the period by $3.14 billion, while revolving loans, which includes credit card debt, contracted by $4.48 billion.

The U.S. Department of Labor reports that the number of employed continued to decline in July.  According to the agency, the measure posted a decline of 131,000 jobs in the month, which is less than the 150,000 needed to keep pace with population growth.  However, the month maintained the unemployment rate for June of 9.5%.

Foreclosure activity is on the decline in Colorado, according to a report by the Division of Housing.  The agency found the measures of 5,885 foreclosure sales and 10,233 foreclosure filings in the 2nd quarter of this year to be an increase of 17.7% and a decrease of 15.7% from the same period of 2009, but relative to the 1st quarter of 2010 the measures are respective declines of 12.0% and 8.0%.

Denver International Airport posted a 1.7% increase in passenger traffic in June relative to June 2009, report airport officials. The reading brings the year-to-date measure for passenger traffic up 3.4% from the year-ago measure to total 25,166,529.

The Regional Transportation District has announced that it has gained $397.8 in funding for the Eagle P3 project of the FasTracks transportation system via the selling of private activity bonds.  To have a total construction cost of $1.649 billion, the Eagle P3 project is to create rail lines that radiate from the Union Station building in downtown Denver to Denver International Airport, Wheat Ridge, and Westminster, as well as a maintenance facility.

A medical facility announced for Castle Rock by Centura Health is to be known as Castle Rock Adventist Health Campus, officials for the company announced last week.  To begin construction later this month in The Meadows, the initial phase is to be comprised of a medical office building and an emergency room and imaging center.

A new proposal recently approved by the Senate and now awaiting the signature of President Barack Obama is to affect homeowners who purchased their homes with loans made by the Federal Housing Administration.  To affect only future loans, the legislation would allow the agency to raise the monthly fee to as high as 1.55%, but also lower the fee taken at the start of the loan from the current measure of 2.25% to 1.0%, thereby increasing the monthly payment on a $170,000 mortgage by $38.00.

The 1.2-acre site at 5155 East Yale Circle in Denver was recently exchanged for $1.33 million.  Located near the Yale light-rail station, the Urban Land Conservancy purchased the property from a local individual with the intent to develop it with work-force housing totaling as much as 100 units.

A 529.7-acre site at the location of Highway 86 and Founders Parkway in Castle Rock was recently purchased for $16.5 million, or $0.71/SF.  Exchanged between buyer SLV Castle Oaks LLC and buyer Colorado Castle Oaks Return LLC, the seller was represented by Fuller Real Estate agent Stew Mosko.

A 529.7-acre site at the location of Highway 86 and Founders Parkway in Castle Rock was recently purchased for $16.5 million, or $0.71/SF.  Exchanged between buyer SLV Castle Oaks LLC and buyer Colorado Castle Oaks Return LLC, the seller was represented by Fuller Real Estate agent Stew Mosko.

The measure of the U.S. service sector continued to stay in positive territory in July.  Performed by the Institute of Supply Management, the measure of 54.3 last month is an increase of 0.5-points from June, and is the 7th consecutive month the measure has stayed above the benchmark score of 50 to indicate positive growth.

A lease for 46,860 SF of industrial space in the 82,000 SF building at 5475 Joliet Street in Denver was signed by Special Distribution Denver via Colliers International broker Geoff Kreusser.  Michael Bloom Realty Co. agent Michael Bloom aided the owner, Furniture Row Colo. LLC.

A lease agreement for 21,000 SF at 12300 Pecos Street in Westminster was made between tenant Configurations Office Interiors and landlord Pecos 20 LLC.  Representation was provided for the tenant via Aaron Evans and Paul Whiteside of NewOption Partners and for the landlord via Brandon Basham of Metro Brokers/Basham & Associates.

The measure of pending sales for previous occupied homes fell to its lowest measure since 2001 in June, reports the National Association of Realtors.  The agency reports the measure posted 75.7 in the period, which is a decline of 2.6% from the May measure of 77.7.  Of all the regions, only the South posted a gain in the measure in the period.

The U.S. Commerce Department reports that the measures for savings, income, and spending increased in the month of June. The agency reports the rate of savings growth increased 6.4% to $725.9 billion, while income and spending in the period both hovered around 0.1% to post respective gains of $3 billion and $5.1 billion.

A purchase agreement for land for three rail lines for the FasTracks transportation system has been reached between the Regional Transportation District and the Union Pacific Railroad.  To affect the lines running to Denver International Airport, Wheat Ridge, and Golden, the purchase was made official this Wednesday via a signing ceremony.  The agreed price of $78 million is below the maximum of $84 million approved by the RTD board on July 20th.

Vacancy for apartments units in the Denver metro area posted a 2-year low of 6.1% in the 2nd quarter of 2010, according to a report conducted on behalf of the Colorado Division of Housing by Gordon Von Stroh of the University of Denver. Of the counties in the measure, Douglas boasted the highest average rent ($1,085.79) and the lowest vacancy rate (3.9%), while Jefferson posted the lowest average rental rate ($845.38) and Denver posted the highest vacancy (7.4%). The average monthly rental rate for the period increased $29.60 from the year-ago measure of $870.37 to post $899.97.

A retail building totaling 27,333 SF in Castle Rock has been exchanged for $4.92 million, or $180/SF.  Located at 675 Genoa Way, in-house representation was used between buyer James Kimsey of Kimsey Investments and seller Sunshine Real Property.

Vacancy for apartments units in the Boulder/Broomfield area stood at 4.9% in the 2nd quarter of 2010, according to a report conducted on behalf of the Colorado Division of Housing by Gordon Von Stroh of the University of Denver. Of the markets in the measure, the 4.2% vacancy rate for the university area was the lowest, while the other areas of the market averaged 6.9%. The average monthly rental rate for the period increased $50.52 from the year-ago measure to post $995.07.