NoCo Newsletter | December 14, 2023

NoCo Newsletter | December 14, 2023

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of retailers entering Colorado, soft landing potential, residential transaction trends, and more.

REAL ESTATE & BUSINESS NEWS

• SkinnyFATS Enters Colorado Market with 3 New Stores
  • “SkinnyFATS will open a total of three new stores in Denver and Boulder via the entity Elevated Inc., the chain’s largest franchisee. Elevated is also the largest franchisee of Cheba Hut Toasted Subs, with 20 restaurants in Colorado and Nevada.” (Colorado Real Estate Journal)
  • “Jake Hallauer, Lauren Larsen, and Marc Robson of NAI Affinity represented Elevated in all three transactions for its new locations. Elevated is actively looking for “prime real estate” to expand both restaurants elsewhere in Colorado, Hallauer said.” (Colorado Real Estate Journal)
• Buc-ee’s is Coming to Colorado: Here’s What We Know
  • “The new Colorado location is planned to be 74,000 square feet, with 116 fueling stations and, of course, the chain’s award-winning clean bathrooms.  All Buc-ee’s operate 24 hours a day, 365 days a year.” (9News)
• Lower Mortgage Rates Not Enough to Overcome November Slowdown in Metro Denver Home Sales
  • “Buyers closed on 2,664 homes and condos last month, a 15.9% drop from the 3,169 homes sold in October. November closings were down 14% year-over-year and through the first 11 months of 2023, with the overall sales volume is down by nearly a fifth.” (The Denver Post)
• November Residential Real Estate Results Mixed in Boulder Valley, Northern Colorado
  • “Fort Collins saw 125 homes sell last month, down from 145 in October. The median November sales price was $575,000, down 1.7% from the same month last year.” (BizWest)
  • “In the Greeley-Evans region, there were 64 sales in November. That’s the lowest monthly total for the year and down from 87 sales in October. The median sales price last month was $397,450, down 4.2% from November 2022.” (BizWest)
• Polis, Colorado Transportation Officials Bullish on Future of Front Range, Mountain Rail
  • “Colorado’s multibillion-dollar plans for Mountain Rail and Front Range Rail will take route along existing rails and will partner with Amtrak, BNSF Railway and Pacific Railway to incorporate passenger service. The project will also incorporate the Regional Transportation District to help with additional travel needs by bus or shuttle.” (Coloradoan)
• LoDo Landlord Sues to Evict 7-Eleven That “Attracts Vagrancy and Crime”
  • “A landlord at 18th and Blake in LoDo wants permission to evict a convenience store that the landlord blames for difficulties leasing office space above the store….Two months after Unico bought the building in 2021, there was a gunpoint robbery. Since then, there has been an overdose, a stabbing suspect who fled into the store, and vagrancy. There were four break-ins between Oct. 4 and Nov. 7 of this year alone, Unico says.” (The Denver Post)

ECONOMIC & EMPLOYMENT NEWS

• Fed Begins Pivot Toward Lowering Rates as Inflation Declines
  • “The Fed held its benchmark federal-funds rate steady at a 22-year high on Wednesday and offered every reason to think that its most recent increase this past July probably marked the end of the most aggressive cycle of hikes in four decades.” (WSJ)
• Inflation Edges Lower, but Still Too High for the Fed
  • “Inflation has stabilized late this year at well below last year’s high but still above prepandemic levels, tempering hopes for near-term Federal Reserve rate cuts and maintaining price and interest-rate pressures on weary Americans.” (WSJ)
• Indexes Finish Higher After Fed Signals Rate Cuts in 2024
  • “Stocks rose, with all three major indexes up more than 1%, and bond yields fell after the Federal Reserve held interest rates steady Wednesday and signaled cuts in 2024. Most Fed officials penciled in three rate cuts next year in projections released after their two-day meeting ended.” (WSJ)
• US Wholesale Inflation Dropped to 0.9% Annually in November
  • “Tumbling energy prices helped to bring US wholesale inflation down below pre-pandemic levels and to its second-lowest rate this year…. November’s 0.9% gain is also well below the 2011 to 2019 average of 1.68%, BLS data shows.” (CNN)
• Economy’s Soft Landing Comes Into View as Job Growth Slowly Descends
  • “Employers added a seasonally adjusted 199,000 jobs last month, the Labor Department reported Friday, slower than earlier in the year but consistent with gains before the pandemic…. Most recent hiring occurred in two big sectors: healthcare and the government.” (WSJ)

COMMUNITY & OTHER INDUSTRY NEWS

• Client Testimonials
• Here Are 15 Road Projects at the Top of Fort Collins’ List for the Next 10 Years.
• North I-25 Express Lanes Project Nears Completion
• 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. 3 Busiest in the World
• 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 this outstanding end-cap retail space for lease with high visibility along Crossroads Boulevard. Just south of the 7,200 seat Budweiser Event Center, 263 key Embassy Suites Hotel and Conference Center, and in close proximity to many large residential neighborhoods, employment, other retail, and entertainment. The unit is currently built out as a liquor store with an open floor plan, kitchenette area, private restroom, and building signage available to tenant. Located next to QDOBA Mexican Eats. Click here to learn more about this opportunity.

See previous newsletters here.

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