Stories written by Mike Foster

Mike Foster is a commercial broker with Coldwell Banker Commercial Prime Properties in Grand Junction. Reach Foster by telephone at 244-6602 or e-mail at For more information about Coldwell Banker Commercial Prime Properties, visit

Commercial real estate activity lagging in Mesa County

In conversations with friends and business associates, I’m frequently asked about the commercial real estate market in Mesa County. My usual response is to first try to determine the area of the commercial real estate market that is of specific interest. The market can be divided between sales and leasing activities generally and among the […]

More upbeat energy outlook bodes well for real estate

People often ask me why a commercial real estate agent takes such an active interest in energy economics. My most direct response is to cite empirical data correlating local energy exploration and production activity with industrial real estate activity over the last 10 years. From 2005 through 2009, when drilling rig counts increased in the […]

Leasing agents play key role in property sales

When an owner considers the sale of a commercial property, the process begins not the day a listing goes online, but two or even three years beforehand. A smart owner will assemble a team to develop and execute a plan to prepare and market the property. In addition to the owner, the leasing agent and […]

Selling commercial property? Consider four points

When do you know that selling a commercial property is the right decision? Ask real estate mogul Sam Zell. He says, “Everyday you’re not selling, you’re buying.”  If Zell is right, then how do you make a decision about the right time to sell commercial real estate? Here are four points that answer that question: […]

Risk a factor in property investment decisions

In evaluating investment real estate, the ratio of the first year net operating income of a property relative to its purchase price — otherwise known as the “cap rate” — offers a useful and quick measure of a property’s financial performance. As a rule of thumb, some investors tend to correlate above market cap rates […]

State tax credits available to match your investments

If you’re a commercial property owner or tenant, obtain a map from the Business Incubator Center or Mesa County to determine if your location is in a state-designated enterprise zone. You can also use the GJ Incubator EZ Map webpage at to determine of your property address lies within an enterprise zone. If your […]

Consider capitalization rates when buying

Real Estate Investors for any form of income property should consider capitalization or cap rates when making purchase, finance and valuation decisions.     In general a cap rate can be defined as the ratio of the net operating income produced by an asset to the purchase price or value of that asset. For instance if […]

Natural resources more blessing than curse

As the Mesa County economy has slowed from the torrid pace of 2007 and 2008 to the snail’s pace of 2009 and 2010, there’s been a great deal of talk about the positives and negatives of the oil and gas component of the local economy. Some in the media, including members of the Denver Post […]


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