NoCo Newsletter | March 13, 2025

Photo: NAI Affinity featured listing – Windsor Villages | Development Land For Sale

NoCo Newsletter | Keeping You Informed on Northern Colorado’s Commercial Real Estate Market | March 13, 2025

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of Glade Reservoir making headway, unexpected restaurant closures, economic indicators, and more.

Congratulations | NAI Affinity proudly congratulates our Founder and CEO, Ryan Schaefer, on being recognized in BizWest’s prestigious Top 50 Most Influential Business Leaders! This well-earned honor is a testament to Ryan’s leadership, dedication, and the impact he has made in the commercial real estate industry and our community. His vision and commitment continue to drive our success, and we are thrilled to see him receive this recognition. Congratulations, Ryan!

Congratulations | NAI Affinity is proud to recognize Lauren Larsen, Managing Broker, and share her latest achievement being named the NCCAR 2024 Titan Rookie of the Year for production! This well-deserved recognition is a testament to Lauren’s hard work, and Lauren shared, “I am honored to have received the NCCAR Titan Rookie of the Year award for overall gross production. I am deeply grateful to my mentors and brokerage partners, Jake Hallauer and Ryan Schaefer, who have been instrumental in my growth and have provided invaluable guidance and support along the way. I am also thankful for our wonderful clients who have instilled trust in me and the amazing commercial real estate community in Northern Colorado.” We are incredibly proud of her achievements and excited to see her continued success. ⁠Give her a call at (970)305-8176 to get started on your commercial real estate needs today!

REAL ESTATE & BUSINESS NEWS

Featured Article | Northern Colorado Real Estate Resilient Amid Headwinds (feat. Ryan Schaefer, CEO)

“Construction of industrial spaces has slowed since peaking in the wake of the COVID-19 pandemic, and development of office projects has dried up to a trickle. ‘As long as we’ve been tracking this, the least amount of office space broke ground last year,’ Schaefer said. While traditional office construction is at a nadir, owner-occupied, medical and laboratory projects are making up an increasingly large piece of the development pie. ‘The market adapts to where the demand is,’ Schaefer said. The retail subsector has performed admirably in recent years, Schaefer said, (but) Retail traffic and sales can vary quite a bit from community to community in Northern Colorado, with Greeley standing out as a strong performer statewide for many stores, he said.”

• DOGE Lease Terminations In Colorado Reach 355K SF
  • BizWest | “DOGE, the cost-cutting unit created by President Donald Trump, claims its moves are saving $20.8M in the state by ending 19 leases for 355K SF. The agency has been moving quickly to slash costs and in some cases has created confusion in the commercial real estate industry….Denver and Lakewood, considered vulnerable to DOGE’s mission due to the large federal presence in the cities, were hit especially hard in terms of lost lease revenue. Denver is losing two office leases that DOGE said add up to about $3.2M — significant lost revenue for an already struggling office market. The agency ended a lease for a federal department listed only as the Office of the Secretary, which occupied 87K SF, and terminated a 3,885 SF International Trade Administration lease, according to DOGE’s ‘Wall of Receipts.’”
• Lazy river? Day care? Library? Plans for Southeast Community Center are Taking Form
  • Coloradoan | “This facility is proposed to be 64,000 to 74,000 square feet and include:
    • An outdoor pool area with a play structure, slides and lazy river
    • An indoor lap pool that can also be used for other activities
    • A two-court gym that can be used flexibly
    • An indoor walking and jogging track
    • A fitness center
    • A group exercise room
    • A cafe/lounge
    • A catering kitchen
    • A creative/innovation space
    • Multipurpose meeting rooms/event hall
    • A licensed day care
    • A Poudre River Public Library branch”
• Del Taco Closes 18 of 19 Colorado Restaurants Without Warning
  • 9News | ” ‘We regret to inform you that effective [Thursday], all Colorado Del Taco locations are closed until further notice,’ the sign posted on the door said. ‘We thank you for your patronage, the memories we have created together, and wish you well.’ Del Taco told 9NEWS in a statement Thursday night that 18 of its 19 locations in Colorado are only temporarily closed. A Del Taco restaurant in Grand Junction, which is operated by a different franchisee, is still open, Del Taco said.”
• Popular Burger Chain Closing Up to 70 Restaurants After Suffering Millions in Losses
  • MSN | “Red Robin’s fourth-quarter deficit increased from $13.7 million to $39.7 million over the same period last year. Revenue dropped to $285.2 million, a 7.7% decline. The larger loss resulted from increased one-time expenses due to a store closure. The figures for the entire year were also unimpressive: $1.25 billion was made overall, a 4.2% drop; revenue from comparable restaurants decreased by 1.2%. The net loss for 2023 was $21.2 million, while the net loss for this year was $77.5 million.”

ECONOMIC & EMPLOYMENT NEWS

• What to Expect: Glade Reservoir Will Bury Highway, Add Recreation, Impact Haystack Rock
  • Coloradoan | “More than 40 years since Northern Water began planning for the water storage project that will create two new reservoirs and bring water to 15 communities on the growing Front Range, construction appears to be on the near horizon….Northern Water expects the reservoir project to take four years, based on its experience with the new Chimney Hollow Reservoir. That puts completion around 2030, but after that, the reservoir needs precipitation to fill up with water….More than $24 million will be spent by NISP participants and Larimer County, along with other partners, to create recreation at the reservoir, which will include boating activities, biking, fishing, camping and picnicking….Fifteen cities, towns and water districts will receive water. Here they are listed in order of who will get the most water”— Fort Collins Loveland Water District, Erie, Fort Morgan, Left Hand Water District, Central Weld County Water District, Windsor, Frederick, Lafayette, Firestone, Morgan County Quality Water District, Dacono, Evans, Fort Lupton, Eaton, and Severance.
• CEO Fosdick to Resign From Longmont EDP
  • BizWest | “After not quite two years on the job, Erin Fosdick is resigning in frustration as president and CEO of the Longmont Economic Development Partnership. Her last day on the job will be March 13, according to a letter she wrote that was read to Longmont City Council members by LEDP board chair Cameron Grant late Friday during a public-comment period at a city council retreat. ‘I love Longmont and have dedicated much of my professional career to the city. I’ve tried to make a positive impact on the community,’ Fosdick wrote. ‘I had hoped that my deep knowledge of the community, my professional expertise (and) strong, authentic relationship to Longmont would allow me to drive progress. However I found that collaboration, teamwork, transparency and shared success are not values embraced by the city leadership.’ “
• CPI Report: Prices Rose 2.8% in Past Year; Dow Futures Gain
  • WSJ | “The consumer-price index rose 2.8% in the past 12 months—slightly undershooting forecasts—or 0.2% from a month earlier, also below expectations. The report was the first monthly inflation reading to fall fully under the new Trump administration, though it doesn’t capture the impact of the latest tariffs….Stocks ended the day mostly higher after the CPI report. The Dow industrials fell 0.2% after swinging between gains and losses most of the day. The Nasdaq Composite was up by 1.2%. The S&P 500 rose 0.5%, reversing earlier losses.”
• Weekly Jobless Claims Jump to 242,000, More Than Expected in Latest Sign of Economic Softening
  • CNBC | “Jobless claims for the week ended Feb. 22 totaled a seasonally adjusted 242,000, up 22,000 from the previous week’s revised level and higher than the Dow Jones estimate for 225,000, according to a Labor Department report…Also, the Commerce Department said the U.S. economy grew at a 2.3% annualized pace in the fourth quarter of 2024, in a second estimate for gross domestic product that was unchanged from the initial figure.”
• The Latest Overhaul of Starbucks—by the Numbers
  • WSJ | “13: Drinks cut from Starbucks’s U.S. menu…4: The goal in minutes for delivery of most drinks…9: Changes among top executives…1,100: Starbucks corporate jobs eliminated…28%: Share-price gain since Niccol’s appointment…$72,398: Company air-travel costs related to Niccol’s commute.”

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 this prime commercial land development opportunity located at the NEC of Interstate 25 and Highway 392, in Windsor, CO. These Sites are located within The Ptarmigan master-planned golf community at the entrance to Windsor and Fort Collins, CO. This high income ($197K Avg. HH Income) area also benefits from convenient access via Interstate 25 and Highway 392, two major thoroughfares leading to surrounding communities such as Fort Collins, Loveland, Johnstown, Timnath, and downtown Windsor. Available Sites are well suited for a variety of uses such as commercial, retail, office, medical, hospitality, and more.

Click here to learn more about this prime commercial development land opportunity right off I-25.

See previous newsletters here.

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