Tour touts real estate in Longmont

LONGMONT – The Longmont Area Economic Council played host to agents in the real estate and investment industries Wednesday at its eighth annual Longmont Real Estate Showcase.

The tour highlighted vacancies in downtown Longmont and new development and lots for sale around the city. About three dozen people attended.

Longmont’s commercial real estate vacancy rate through the second quarter of the year is 15.6 percent, according to the latest report from the Longmont Area Economic Council. That is up from 14.5 percent for the same period in 2009.

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More than 1.36 million square feet of industrial-flex/office space is available for lease or sale, the council said, and about 650 acres of land are available for commercial development.

Denise Crosby of the Downtown Longmont Development Authority spoke about tax incentives and grants offered by the city.

Executives from Denver-based Bush Development Inc. and Denver-based Crosbie Real Estate Group spoke about their companies’ plans for Sandstone Marketplace, a commercial development at the southeast corner of Colorado Highway 119 and County Road 1 that is projected to have space available in second quarter 2011. The development is next to and will share driveways with Wal-Mart Stores Inc.’s supercenter currently under construction.

Kory Cash, general manager of Circle Capital Property Management LLC, which owns and operates The Campus at Longmont, gave a tour of vacant flex space in the business park.