Prudential Rocky Mountain REALTORS® Adds Two New Branches

December 2006

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Prudential Rocky Mountain REALTORS® is pleased to announce the addition of branch offices in Lafayette and Windsor, bringing the total number of offices in the Prudential Rocky Mountain REALTORS® network to nine and the number of agents to 225.

The Lafayette office, located at 990 S. Public Road, will be managed by Steve Engelking. He is the current CEO for the Prudential Rocky Mountain REALTORS® network and previously president of the Longmont branch. The corporate offices, currently located in Longmont, will also move to the new Lafayette location, which will house all administrative, operational, relocation, recruiting and marketing functions, plus 25 new agents who are expected to join the organization within the next six months.

The Windsor location will be managed by Martin West. He teamed his company, West & Associates, which has been a long-standing local real estate agency in Windsor with an impressive track record, with Prudential Rocky Mountain REALTORS® as part of the company's strategic growth plan. The foundation of the plan is to provide clients with the influence and buying power of a national brand while keeping the benefits of a smaller office intact. The Windsor office currently houses seven agents.

"I could not be happier," said Martin West of the merger. "Today's customer is demanding the economies of scale and efficiencies that smaller agencies cannot provide. However, clients do not like the bureaucracy of a mega-agency. Joining the Prudential Rocky Mountain team made sense. Our clients will see these efficiencies that smaller agencies provide, as well as the benefits of a national brand such as our partnership with Yahoo! and its ability to generate 8,000+ leads a year for sellers."

The Prudential Rocky Mountain REALTORS® brand was created in February 2006 when five offices joined to create northern Colorado's largest-reaching real estate firm. At that time, the company employed 174 agents. Today, the company employs 225.

"We set out in February to create a powerful agency," said Steve Engleking. "The goal still is to create a firm that has national power, but remains loyal to our local roots. We feel the addition of Lafayette and Windsor continues that vision."

Commercial Spotlight: Boulder

It seems that most of the commercial space leasing activity is from tenants moving into the downtown corridor. One property, the Randolph Center at Pearl and Broadway, leased 12,000 SF of space to the University of Colorado Behavioral Science Department. The downtown office space market in Boulder is very robust. There is currently about an 8 percent vacancy rate, but that may actually be closer to 5 percent because there is no available parking for lease from the Central Area General Improvement District (CAGID), which controls about 4,000 spaces in the public parking garages. By Chip Wise, Prudential Rocky Mountain REALTORS® Boulder Office