Q2 2019
Greetings! Happy Spring! The weather may only be just warming up, but Northern Colorado's real estate market continues to be hot. In this issue we're highlighting the state of the market, what's hot in NOCO commercial real estate and development projects to keep an eye on in 2019.
NOCO 2019 Commercial Real Estate Forecast
On March 5th, 2019, Realtec sponsored and presented at the BizWest Northern Colorado Real Estate Summit hosted at the Embassy Suites in Loveland. Mark Bradley, Managing Broker of Realtec Greeley and Ron Kuehl, Managing Broker of Realtec Loveland, presented the 2019 Northern Colorado Commercial Real Estate Forecast. Topics included the state of the market, what's hot and what's not in commercial real estate, trends to watch for in the future and upcoming projects in NOCO. Steve Stansfield, President and founder of Realtec, was recognized as an Icon in Northern Colorado Real Estate and participated in the Icons of Real Estate Panel.
State of the Market: Northern Colorado
Source: CoStar
What's Hot and What's Not in Northern Colorado
Office
What's Hot:
  • Redevelopment/value add
  • Downsizing
  • Parking
  • Short term commitments (tenants)
What's Not:
  • Millennial/Gen X driven design
  • Tenants spending money on remodel
  • Large office users
  • LEED certification
Redevelopment: 800 8th Avenue, Greeley, CO
Experiential: The Exchange, Fort Collins, CO
Retail
What's Hot:
  • Experiential
  • Service driven
  • Home delivery
  • Cannabis
What's Not:
  • Big box retail
  • Restaurant closings
  • Enclosed shopping malls
Industrial
What's Hot:
  • Outside storage
  • Flex user ownership
  • Large/high cube space
What's Not:
  • Self storage
  • Functional obsolescence
Flex User Ownership: Redwood Business Park, Loveland, CO
Downtown & Walk-able: Lokal Apartments, Fort Collins, CO
Multifamily
What's Hot:
  • Downtowns
  • Walk-able
  • Amenities
  • Micro units
  • Transportation corridors
What's Not:
  • High end apartments $$
  • Outdated units & complexes
NOCO Development Projects: 2019
  • The River District, located in Old Town, Fort Collins, combines nature, industry and history to create a neighborhood which encompasses restaurants, shops, housing and office space.
  • An on-going project in Fort Collins that has now expanded into Timnath, is the Harmony Corridor. Major road improvements have paved the way for new mixed-use projects and housing to accommodate the increasing NOCO population.
  • 2534 - Johnstown Plaza has seen exponential growth since the opening of SCHEELS last spring. The area now has multiple office, retail and multifamily opportunities which has made Johnstown Plaza the new, hot development at I-25 and US 34.
  • The 8th Avenue Corridor in downtown Greeley is a massive redevelopment project. The first phase is set to bring multiple new apartment buildings to the area and will connect downtown Greeley to the University of Northern Colorado.
CoStar Market Reports - Larimer and Weld County´╗┐