The Northern Colorado region is a thriving area with numerous commercial real estate opportunities, thanks to its diverse economy and low unemployment levels. The cities of Fort Collins, Loveland, and Greeley are particularly attractive for investors and tenants due to the area’s economic vitality. Real estate platforms like VidTech offer a wide selection of commercial properties, helping buyers and sellers connect efficiently.
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The State of Commercial Real Estate in Northern Colorado
Northern Colorado is known for its picturesque landscapes, including the Rocky Mountains and vast plains. This makes it an ideal location for living and investing. Major cities like Fort Collins, Greeley, and Loveland contribute significantly to the region’s economy.
- Fort Collins: Known for its innovation and education, home to Colorado State University, and a hub for tech startups and green energy enterprises.
- Greeley: Historically agricultural but now expanding into healthcare, manufacturing, and renewable energy.
- Loveland: Referred to as the ‘Gateway to the Rockies,’ with a vibrant arts scene and growing retail sector.
The region’s booming economy and growing population drive demand for residential and commercial properties. From multinational corporations to innovative startups, key businesses add to the dynamic nature of the economy.
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Northern Colorado Regional Overview
The region is experiencing robust population growth, with over 165,000 new residents since 2010. Greeley is among the fastest-growing cities in the U.S., while Loveland’s population has surged over 16% in the past decade. Fort Collins, despite a slight population decrease since 2022, remains vital due to its educational and cultural amenities.
- Population: Nearly 720,000 with a growth rate of 30% since 2010.
- Counties: Includes Larimer County (Fort Collins and Loveland) and Weld County (Greeley).
- Demographics: Median age of 37, average per capita income of $42,389, and median household income of $87,039, both higher than U.S. averages.
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Northern Colorado Job Market
Northern Colorado’s economy is a mix of tradition and innovation, supported by venture capital investments and a diverse industrial base.
- Fort Collins: A tech startup hub with Colorado State University driving R&D in bioscience and clean energy.
- Greeley: Evolved from agriculture to renewable energy and manufacturing, attracting new business with tax incentives.
- Loveland: A creative industry hub backed by public-private partnerships fostering growth and innovation.
Major Employers: Hewlett Packard Enterprise, Broadcom, UCHealth, Banner Health, and educational institutions like Colorado State University and the University of Northern Colorado.
- GDP: $53.2 billion, with a 43% growth over ten years.
- Unemployment: 3.8% as of March 2024.
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Northern Colorado Real Estate Market Report
Northern Colorado offers a robust market for commercial real estate investments, driven by job growth and a projected population reaching one million by 2039. The region is attractive to global investors due to its work-life balance, cultural offerings, and outdoor activities.
CRE Submarkets: Ft. Collins, Greeley/Evans, I-25 North, I-25 South, Loveland/Berthoud, Weld County South, Windsor.
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Northern Colorado Industrial Market
The industrial market is experiencing significant positive net absorption, driven by build-to-suit projects and major tenant move-ins. Construction activity, such as Amazon’s facility, highlights the region’s strategic importance.
Market Overview (CBRE Northern Colorado Industrial Figures H2 2023):
- Inventory: 36,439,793 SF
- Vacancy Rate: 7.0%
- Net Absorption: 584,652 SF (YTD)
- Deliveries: 545,000 SF
- Under Construction: 4,291,901 SF
Key Projects: Amazon Logistics Facility, 7051 Eagle Blvd, 4076 Salazar Way.
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Northern Colorado Office Market
The office market shows a positive trend in net absorption and a decrease in vacancy rates, with strong demand and a tightening supply of office space.
Market Overview (CBRE Northern Colorado Office Figures H2 2023):
- Inventory: 10,422,960 SF
- Vacancy Rate: 11.8%
- Net Absorption: 42,626 SF (YTD)
- Under Construction: 0 SF
Largest Submarkets: Fort Collins Southeast, Greeley West, Fort Collins Downtown, Fort Collins Midtown.
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Northern Colorado Retail Market
The retail market in Northern Colorado is experiencing a shift, with a rise in vacancy rates but increased lease rates. Despite this, the demand for retail space remains strong, supported by population growth and consumer spending.
Market Overview (CBRE Northern Colorado Office Figures H2 2023):
- Inventory: 10,422,960 SF
- Vacancy Rate: 11.8%
- Net Absorption: 42,626 SF (YTD)
- Under Construction: 0 SF
Largest Submarkets: Fort Collins Southeast, Greeley West, Fort Collins Downtown, Fort Collins Midtown.
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Northern Colorado Multifamily Market
The multifamily market reports a decrease in transaction volumes, yet strong fundamentals with consistent population growth and a vibrant job market. The interest in build-to-rent communities as an alternative to homeownership suggests future growth potential.
Recent Multifamily Trends (May 2024):
Ft. Collins
- Total Housing Units: 164,525
- Renter Occupied: 45%
- Median Rent: $1,975
- Rent Change: 3% YoY
Greeley
- Total Housing Units: 128,978
- Renter Occupied: 39%
- Median Rent: $1,450
- Rent Change: -3% YoY
Loveland
- Total Housing Units: 33,634
- Renter Occupied: 39%
- Median Rent: $1,726
- Rent Change: -4% YoY
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With a dynamic mix of opportunities across industrial, office, retail, and multifamily sectors, Northern Colorado presents a vibrant landscape for commercial real estate investment in 2024.Â
For advanced property marketing tools and further insights, visit VidTech.com.
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