Recession recovery is continuing at a higher pace in the Northern Colorado commercial real estate market, says Steve Kawulok, managing director of Sperry Van Ness The Group Commercial in Fort Collins, Colorado.
The Northern Colorado market, which encompasses the three counties of Boulder, Larimer and Weld, had an improving outlook for the second quarter of 2013. Among the signs of recovery and strength were:
Market sales of property went up ;
Retail properties did the best;
Office properties gained momentum with the vacancy rates going down and rental rates on the uptick;
Investors are still active in this market.
For a complete picture of the Q2 activity in Northern Colorado, including significant commercial real estate transactions, read Steve’s Q2 report here.
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In a detailed Northern Colorado commercial real estate market report and analysis, Steve Kawulok, Managing Director of Sperry Van Ness/The Group Commercial says the first quarter sales volume of 2013 was less than 4Q 2012, but with high activity levels, foretelling a strong year ahead.
Other key findings about the Northern Colorado market in this report are:
Retail properties were sought after although investors paid slightly less for investment properties in general.
Vacancy rates continued to decline, particularly in the industrial category.
Rents are projected to increase in 2013.
Land meant for residential development has started to sell if located in an infill area, and oriented to smaller lot, affordable homes.
Medical office and clinical properties are in high demand from investors.
Industrial properties, especially those with yard space, are in high demand from the energy industry.