NoCo Newsletter | December 19, 2024

Photo: Blue Arena at The Ranch, Loveland, Colorado.

NoCo Newsletter | December 19, 2024

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of The Ranch redevelopment, Johnstown’s growing economy, inflation on the rise, and more.

We have made it to the final newsletter of 2024. Thank you to our amazing clients, partners, and supporters—you have been at the heart of everything we do. Thank you for trusting us, working with us, and being a part of our journey. Your support fuels our passion and drive. As we look ahead to 2025, we are excited to continue building, innovating, and collaborating. Cheers to new opportunities, new connections, and an even brighter future!

Wishing you and yours happy holidays—see you in 2025.

REAL ESTATE & BUSINESS NEWS

NAI Affinity is pleased to announce the acquisition of an industrial property located at 804 Grand Avenue in Platteville, Colorado, on behalf of KS Industries. Ryan Schaefer and Lauren Larsen of NAI Affinity represented the Buyer in this transaction. Learn more about this transaction: here.

• Instead of a New Facility, The Ranch Exploring Arena Renovation, Repurposed Hockey Center
  • The Ranch’s end goal is to be self-sufficient by 2039, and accordingly, “The (Larimer County) commissioners voiced their support for the updates to the master plan, including the other projects listed in its second phase, which were included in Monday’s presentation:
    • A proposed $35 million expansion of its Great Lawn, including the addition of new parking lots and sidewalks, fixed restrooms, a concessions area, teaching kitchen and 2,500-seat outdoor amphitheater.
    • The $2 million addition of a premium lounge at Blue Arena.
    • A $10 million addition of new wayfinding features, monument signs and a 130,000-square-foot event plaza outside Blue Arena and the Pedersen Toyota Center.
    • Construction of an estimated $40 million convention center and $80 million 150- to 300-room hotel, the latter of which would be paid for and operated by a hotel partner.” (The Coloradoan)
• Ground Broken for Bass Pro Shops in Loveland
  • “When the new Bass Pro location opens, possibly as early as the fourth quarter of 2025, it will intensify the competition for the outdoor sports enthusiast’s dollar, with four major big-box retailers within slightly more than two miles of each other. The existing outdoor stores operate near three corners of the interchange of I-25 and U.S. Highway 34: REI Co-op opened last summer in Centerra Marketplace on the northwest corner, a Dick’s Sporting Goods outlet has been open for nearly a decade at the Promenade Shops at Centerra northeast of the interchange, and the largest, a 250,000-square-foot Scheels location, southeast of the interchange in Johnstown, made its debut in 2017.” (BizWest)
• November Home Sales Post Biggest Annual Gain Since 2021
  • “Sales of existing homes rose in November, notching the biggest year-over-year gain in more than three years after a higher supply of homes for sale gave buyers more opportunities. Still, home-buying activity remains subdued for the second consecutive year. Sales of previously owned homes in 2024 are on track to hit the lowest level since 1995. Home prices are still near record highs, and while a late-summer drop in mortgage rates helped boost November sales, rates have returned to higher levels. Many would-be buyers are priced out of the market.” (WSJ)
• Albertsons Sues Kroger, Terminates Merger After Judge Blocks Supermarket Megadeal
  • “America’s two biggest supermarket operators have gone from deal partners to legal rivals in less than 24 hours. Grocery-store operator Albertsons said it terminated its planned sale to Kroger and filed a lawsuit alleging that Kroger didn’t do enough to secure regulatory approval for the companies’ $20 billion deal, a day after a federal court blocked it….Kroger said that Albertsons repeatedly breached the merger agreement during the deal process and that the suit is an attempt to deflect responsibility and to seek payment of the merger’s breakup fee, to which Kroger said Albertsons isn’t entitled.” (WSJ)

ECONOMIC & EMPLOYMENT NEWS

• Here’s How a Buc-ee’s Opening Impacted Johnstown’s Economy
  • “According to Johnstown Economic Development Manager Sarah Crosthwaite, the new Buc-ee’s has brought growth to the area. ‘The opening of Buc-ees created 250 new jobs in our community,’ Crosthwaite said. ‘We’ve also seen increased interest from other businesses wanting to locate near the store.’ Just across from the Buc-ee’s, Tyson Hull, owner of Red Barn Liquor, reports an uptick in sales. ‘Our sales have increased by 20 to 25% this year,’ Hull estimated.” (9News)
• Hiring Bounced Back With 227,000 Jobs Added Last Month
  • “The labor market bounced back last month. Workers sidelined by storms got back on the job, and thousands of striking Boeing employees returned to work. The U.S. added a seasonally adjusted 227,000 jobs in November, the Labor Department reported Friday, solid growth that was roughly in line with expectations….The report provided something of a relief, confirming that October’s softening was the result of storm and strike-related distortions, rather than a more fundamental weakening. The general picture is that the labor market has slowed, but is still doing well.” (WSJ)
• Fed Signals Plan to Slow Rate Cuts, Sending Stocks Lower
  • “The projections show officials expect to make fewer rate reductions, with most penciling in two cuts for 2025, down from four at their meeting in September. Officials have been trying to pull off a balancing act. They want to prevent the aggressive rate increases of the past two years from unnecessarily slowing down economic activity now that price and wage growth has cooled, but they don’t want to undo recent progress on inflation.” (WSJ)
• Strengthening Inflation Poses Challenge for Trump, Fed
  • “Progress on bringing down inflation stalled in November, with the consumer-price index of goods and services costs ticking up to a 2.7% increase. Prices of consumer goods—everything from cars to living-room furniture, but excluding food and energy—increased at the fastest month-over-month pace in a year and a half, led by a jump in vehicle prices….The rise is notable because prices for many goods had generally been falling or flat for about a year through August. That trend appears to have now reversed.” (WSJ)

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 presents an exceptional investment: a brand new restaurant property in the bustling Victory Ridge mixed-use development in northern Colorado Springs. Ideally situated less than a mile from Interstate 25 with frontage on Interquest Parkway, this prime location ensures high visibility and easy access. The surrounding area boasts a dynamic mix of major retailers, large office complexes, entertainment venues, hotels, and numerous residential apartments, guaranteeing a diverse and steady customer base. Located on the vibrant Interquest Parkway corridor, known for its array of dining options, this property stands out with its inviting rooftop patio and outdoor seating areas, designed to attract and retain patrons.

Click here to learn more about this opportunity.

See previous newsletters here.

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