Market News

• Colorado Springs City Council declared South Nevada Ave. and South Tejon St. Corridors an urban renewal site
• Microchip Technology, Inc. acquired Atmel Corporation for $3.5 billion creating the world's thirdlargest production of micro controllers. Microchip Technology, Inc. employs over 1,000 Colorado Springs residents. Microchip Technologies Inc. estimated that it will generate $3.25 billion in annual revenue with a significant portion of that revenue being made in Colorado Springs.
• SAP America, Inc., purchased 9 acres in the T5@ Colorado business park for $3 million to build a purported 100,000 SF data center first half 2016 and broke ground in second half 2016. In addition, SAP America, Inc. purchased 17.9 Acres in northern Colorado Springs to build a second 100,000 square feet data center.

• The National Cyber Intelligence Center will be located on North Nevada Avenue in Colorado Springs - the location is expected to revitalize a once challenged area of the city and attracts more companies in the cyber-security field. More companies in the cybersecurity field are expected to consider Colorado Springs as the hub of the cybersecurity industry. The State of Colorado has allocated $8 million to theIN

project.

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Hot Topics - 2Q21:

  • Several downtown multi-family projects are underway with approximately 600 new apartment units currently under construction and more planned

  • Colorado Springs’ unemployment rate fell from 6.4% in April to 5.8% in May

  • Building permits for single-family home construction are up over 18% from the same period last year

  • The construction of the 3,400-seat Robson Arena is being finalized and is set to open this fall, in time for Colorado College’s first hockey game

  • Weidner Field, downtown’s new multi-use, 8,000-seat stadium and home to Colorado Springs Switchbacks FC, opened in late May and has already hosted multiple games and concerts