Northern Colorado’s Office, Retail and Industrial Markets Strengthen Northern Colorado’s Office, Retail and Industrial Markets Strengthen
DENVER — CBRE Research recently released their latest reports analyzing Northern Colorado’s office, retail and industrial markets. Here are the highlights from each sector as well as... Northern Colorado’s Office, Retail and Industrial Markets Strengthen

DENVER — CBRE Research recently released their latest reports analyzing Northern Colorado’s office, retail and industrial markets.

Here are the highlights from each sector as well as a link to each report:

1st Half of 2017 NoCo Office Highlights

  • Activity in Northern Colorado’s office market was strong through the first half of 2017 with positive net absorption and increased rental rates.
  • At the end of Q2 2017, 106,219 sq. ft. of office space was under construction.
  • Office sales volume decreased 27.1% year-over-year, totaling $14.0 million in H1 2017.
  • The industry sectors driving current market activity include agriculture, technology, research and development, government and healthcare.

1st Half of 2017 NoCo Retail Highlights

  • Northern Colorado’s retail market experienced notable growth in key fundamentals such as net absorption and construction during H1 2017.
  • Construction activity picked up the pace in H1 2017 with over 1.0 million sq. ft. under development – almost double the amount of space underway one year ago.
  • Over 270,000 sq. ft. of retail space traded in H1 2017, totaling $70.3 million in transaction volume.

1st Half of 2017 NoCo Industrial Highlights 

  • Vacancy levels remained below 4.0% for the third consecutive quarter.
  • Positive net absorption of 290,290 sq. ft. was recorded through the first six months of 2017.
  • The overall direct average asking lease rate declined 5.2% year-over-year to $8.35 per sq. ft. triple net (NNN) in Q2 2017.
  • At the end of Q2 2017, there was 353,985 sq. ft. of industrial space under construction and nearly 202,000 sq. ft. of new space was delivered this year.
  • Industrial sales volume in Northern Colorado reached $126.6 million in H1 2017, surpassing annual sales posted in the last four out of five years.

Image of Downtown Fort Collins, courtesy of CBRE.

 

 

No comments so far.

Be first to leave comment below.

Your email address will not be published. Required fields are marked *