In Colorado, commercial real estate is one factor of the economy that can lead to solid income and tax income for the area it’s in. As someone from Colorado, you may be interested in how business people are spending their money or how income coming into the state from outside sources. You might be interested to hear about this commercial real estate information where a Colorado-based buyer purchased a company in Texas.
Texas isn’t far from Colorado; all you have to do is cross the tip of Oklahoma and then enter the state. That may be why it’s a location where buyers could be interested in commercial real estate. For instance, in this news release from May 28, a Colorado-based seller owned property in Texas. The property was a 76-room Best Western Plus hotel, which is a part of a well-known hotel chain.
According to the story, the hotel was located at 600 San Gabriel Village Blvd. in Georgetown, Texas, and it was up for sale following recent and major renovations. The Colorado-based seller did not note what the price of the hotel would be if or when it sold, but previously it was listed at $5.25 million, according to the news.
The Colorado-based seller was able to sell this property to a buyer from Oklahoma City, according to the news. The investor was allegedly already interested in hotel investments when buying the hotel in Georgetown. This is just one of the recent commercial real estate transactions involving multiple states, which is not uncommon anymore. If you’re planning on selling your property in Colorado, Texas or Oklahoma, you may also want to consider learning about how to make out-of-state sales, which may lead you to more offers for your business.
Source: Austin Business Journal, “Real estate roundup: Huge lease signed for Encino Trace office project” Jan Buchholz, May. 28, 2014