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Northern Colorado Market Statistics Q1 2017:

August 24, 2017

Economic Overview

  • The unemployment rate at the beginning of 2017 was 2.7%
  • Non-farm job creation was up 3.4% totaling 5,300 jobs over the past year
  • Primary job growth in the last six months has been in education, health services, natural resources, mining and construction

Office

  • Negative absorption of 23,854 SF during Q1 2017
  • Current vacancy rate of 9.1% with approximately 50% of the vacancy being sublease space
  • Leasing activity has been slow due to lack of desirable product and increasing rental rates

Retail

  • Negative absorption of 23,770 SF in Q1 2017
  • Current vacancy rate of 3.5%
  • Class A and Class B retail centers continue to have very little or no inventory available

Industrial

  • Negative absorption of 13,006 during Q1 2017
  • Current vacancy rate of 5.9%
  • Oil and gas activity showing positive signs of a potential rebound
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