NoCo Newsletter | October 23, 2025

Photo: The Flats at Hansen Farm, an Affinity Partners Community

NoCo Newsletter | Keeping You Informed on Northern Colorado’s Commercial Real Estate Market | October 23, 2025

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of projects breaking ground, shifting retailers, approaches to affordable housing, and more.

CONGRATULATIONS

Please join us in congratulating our Project Manager and Real Estate Analyst, Brecken (Schaefer) Glenn, on being recognized as one of BizWest’s 40 Under Forty 2025 honorees! This honor celebrates emerging leaders who are making significant contributions to their professions and communities across Northern Colorado.

Brecken’s leadership, commitment to excellence, and passion for strengthening our region are evident in everything she does—whether advancing thoughtful development projects, mentoring others in the industry, or serving in leadership roles through organizations like Urban Land Institute and Water Literate Leaders.

We are proud to have Brecken represent NAI Affinity and Affinity Partners and to see her recognized for the meaningful impact she continues to make both within our firm and throughout the community.

REAL ESTATE & BUSINESS NEWS

Affinity Partners Farm Breaks Ground in Fort Collins, The Flats at Hansen Farm, Expanding Local Housing with 255 New Apartment Homes | “It’s rewarding to break ground with a team that shares our values,” said Brecken (Schaefer) Glenn, Affinity Partners Project Manager. “The Flats at Hansen Farm is the result of careful planning, collaboration, and a shared goal of building something that adds long-term value to the Fort Collins community.”

• Boutique Hotel Being Developed Near CSU
  • BizWest | “Tribe Development Co., which is headquartered 11 blocks north of the inn, bought the 48,787-square-foot property for $10 million last October and plans to spend $5.6 million for its complete makeover, said Ashley Stiles, the company’s founder and CEO….Former owners had long ago converted the pancake house into meeting space, but Stiles wants to bring back a bar and restaurant, both of which will be run by Denver-based TWC Management, which also will manage the hotel….The University Inn has 70 rooms, she said, but the Buxton will have 69, with the other room converted into a fitness center.”
• Fort Collins Rescue Mission Breaks Ground on $27.5M Homeless Resolution Center Months After Fire
  • 9News | “Located in north Fort Collins, the new trauma-informed center will offer 250 shelter beds, a kitchen and dining room, as well as expanded day services. It will also provide robust case management and wraparound services designed to help individuals transition out of homelessness and into stable living situations. Construction on the center is expected to take between 12 and 14 months, with a targeted opening in fall 2026….’This center isn’t just about food and shelter,’ Forwood said. ‘It’s about addressing a long-term problem with long-term solutions.’ “
• 2 Projects Under Construction, 4 in the Works in Timnath’s Ladera Development
  • Coloradoan | “Connell LLC’s 240-acre mixed-use subdivision — located from Costco to Kechter Road and sandwiched by Interstate 25 and South County Road 5 — is the future home of an indoor self-storage facility, Respite Care’s new Timnath facility, a barbecue restaurant and, potentially, a new biergarten, auto shop and In-N-Out.”
• Private Developers Plan $100M for New Greeley Hotel, Apartments
  • BizWest | “Private developers plan to spend $100 million on an 85-room hotel at the southwest corner of 10th Street and Eighth Avenue and apartments nearby as part of a civic campus project, Adam Frazier, president of Richmark Cos. LLC said at a City Council work session…. Richmark Vertikal is a joint venture between Richmark Cos. LLC in Greeley, the real estate company; and Vertikal LLC in Louisville, a boutique hotel developer. Apartments could be built across Eighth Avenue to the east on the northeast corner of 11th Street and Eighth Avenue, based on the presentation.”
• New Tenant Prepares to Open in Fort Collins’ Old Bed Bath & Beyond Building
  • Coloradoan | “The market — run by Michigan-based foodservice distributor Gordon Food Service — plans to open Nov. 3, according to the company….Like Shamrock Foodservice Warehouse, which also has a location in Midtown Fort Collins, Gordon Food Service distributes food and supplies to restaurants and other businesses, but its restaurant markets are also open to the public…”
• Starbucks Locations are Closing in Colorado
  • Coloradoan | “Two Starbucks stores in Fort Collins (closed)…one at 3617 S. College Ave. and one at 112 W. Laurel St…. The closures are part of a national shutdown of stores. CEO Brian Niccol told employees Sept. 25 that Starbucks will close about 1% of its locations in the United States and North America and cut about 900 jobs as part of its Back to Starbucks transformation strategy, USA TODAY reported.”
• Two Denver Suburbs Take Different Paths as Residents Face Housing Crunch: ‘We Can Manage It, but Just Barely’
  • Denver Post | “Two suburban cities south and west of Denver find themselves on distinctly different tracks in addressing a long-vexing problem — the high prices and elevated borrowing costs that box out young families and renters of all ages from buying a home. In Lakewood, elected leaders spent the summer overhauling the city’s zoning code and land use rules. Their goal: to encourage the building of more varied housing types, and by extension greater density, in the city of 156,000, with the ultimate aim of lowering overall home prices. In Littleton, a similar pro-density effort had sparked a furious backlash earlier this year. Now a citizen-initiated measure is bound for the Nov. 4 ballot and, if passed, it will restrict a large chunk of the city from having anything but single-family homes — a stark pivot from city leaders’ prior goal.”

ECONOMIC & EMPLOYMENT NEWS

• CSU Enrollment Reaches Record High Despite Decrease in International Students
  • Coloradoan | “Boosted by increases in the number of students taking classes online, transfer students and a record-high retention rate, the overall student population grew for the fifth consecutive year, eclipsing the previous record of 34,218 set last fall.”
• 302-MW Data Center Campus to Rise in Cheyenne
  • BizWest | “Phase I of the development is expected to generate more than $250 million in tax revenue to the State of Wyoming and City of Cheyenne in its first 15 years of operations and create more than 700 construction jobs and 40 well-paying, permanent jobs. To preserve Wyoming’s water resources, Related Digital’s Cheyenne project will use high-efficiency air-cooled chillers, and the project will require only nominal water consumption, primarily for domestic use.”

COMMUNITY & OTHER INDUSTRY NEWS

• Client Testimonials
• Larimer County’s Biggest Private Employers: Here’s Who Makes the List
• Old Town Square No. 4 in USA TODAY 10 Best Readers’ Choice Awards Best Public Squares List
• Most Peaceful Place to Live? Fort Collins Tops the List With Outdoor Recreation, Low Noise
• Here Are 15 Road Projects at the Top of Fort Collins’ List for the Next 10 Years.
• Fort Collins Area Chamber of Commerce: Northern Colorado Economic Overview
• Northern Colorado Boasts Nine of Top 20 Fastest-Growing Communities in State
• 2 Colorado Cities in Top 4 ‘Best Places to Live Rankings
• Denver International Airport Ranked No. 6 in Passenger Traffic Worldwide
• Support Your Local Bold Voice of Business by Contributing to the 13th Annual Moving Fort Collins Forward! Campaign

FEATURED LISTING

NAI Affinity is pleased to present these outstanding retail/commercial development sites for sale located at the northwest corner of 10th Street (Highway 34 Business Route) and 77th Avenue in west Greeley (“Property”). The location presents a promising opportunity and is positioned along an underserved arterial route to and from Greeley, which is experiencing tremendous growth. The Property is surrounded by an abundance of proposed and newly developed residential rooftops, and it is in close proximity to various amenities, schools, recreational facilities, services, employment, and healthcare. Additionally, the Property is conveniently located within 1/2 mile of the King Soopers grocery anchored retail center. Given these advantageous dynamics, the Property is highly suitable for a diverse range of uses including restaurants, gas station/c-stores, retail establishments, hospitality, medical facilities, daycare centers, self-storage, and more.

Click here to learn more about this flexible opportunity!

See previous newsletters here.

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