NoCo Newsletter | May 8, 2025

Photo: NAI Affinity featured listing – Greeley | City Center West Development Site

NoCo Newsletter | Keeping You Informed on Northern Colorado’s Commercial Real Estate Market | May 8, 2025

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of CRE transactions, increased Loveland development fees, depressed consumer outlook, and more.

REAL ESTATE & BUSINESS NEWS

• Owners Swap Industrial Buildings in $19.4M Deal
  • BizWest | “The owners of industrial buildings in Loveland and Windsor have traded those assets in a $19.4 million transaction brokered by Cushman & Wakefield. The properties involved are an approximately 100,000-square-foot Class A industrial facility at 31815 Great Western Drive in Windsor and a newly built 20,500-square-foot industrial building at 3505 Draft Horse Court in Loveland. The properties traded directly between the owners of each asset, with Schlosser Signs Inc., an owner and user, selling the Draft Horse property to an investor known as “Bar S U” for $5.2 million. In return, Schlosser received the Great Western building from Bar S U for $14.2 million.”
• Banner Health Acquires Village Medical Clinics with 34 Fort Collins-Area Providers in Tow
  • Coloradoan | “Banner Health has purchased seven of Village Medical’s Northern Colorado primary care clinics, including two urgent care clinics, for $5.5 million, according to a May 1 news release and Banner Health spokesperson Stuart Buchanan. Forty-six providers — including 34 from Fort Collins-area clinics — and 150 support staff members will move over to Banner Health as part of the sale. The recently sold clinics span from Longmont to Fort Collins and will be rebranded as Banner Health clinics, with the full transition expected to take a few months, per the release. Banner Health plans to invest $8 million into facility and technological upgrades at the clinics…”
• This Old Town Fort Collins Parking Lot May Become Affordable Housing
  • Coloradoan | “The lot spans the half block of Remington Street between Olive and Oak streets and has been used for public parking since downtown merchants and property owners helped build it nearly 50 years ago….The project’s next step ― a purchase and sale agreement between Housing Catalyst and the city ― is set to come up before the city’s Council Finance Committee on June 5… (and) does not offer any mitigation to the loss of public parking…Since late February, the Fort Collins Downtown Development Authority and Housing Catalyst have been meeting to discuss the project, according to DDA Executive Director Matt Robenalt. Through those meetings, the DDA is trying to understand the rationale behind not replacing the lot’s 163 spaces, explain downtown parking challenges and explore a potential joint-investment between the city, DDA and Housing Catalyst to add structured parking to offset the possible loss, Robenalt said.”
• Lind Buys Tract for Arena Site, Sells It to Greeley
  • BizWest | “A key parcel of Weld County land that will be the site of a new arena for the Colorado Eagles minor-league hockey team has been deeded to the city of Greeley. Windsor-based developer Martin Lind, who owns the Eagles and whose Water Valley Co. will develop the massive Cascadia project at Greeley’s western gateway, on Tuesday closed on the $4.956 million purchase of 99 acres from Kerr-McGee, a subsidiary of Occidental Petroleum Corp. (NYSE: OXY), through one of his entities, Vima Partners LLC. Vima then sold the parcel to the City of Greeley for the same price, ‘plus our survey, environment and soft costs, so $5 million,’ Lind said. ‘There was no commission and no profit.'”
• Loveland to Hike Fees for Development Review, Permits
  • BizWest | Loveland, “has chosen Accela Land Management as its new software provider for,” development review and building permits. “Beginning in June, a 5% “technology fee” increase will be reflected on all land-use applications, which include zone changes, site development plans and other pre-construction approvals. A technology fee also will be added to all building permit applications for projects that are ready for or in the process of construction. The technology fee will be 10% of the building permit fee and 10% of the plan check fee, if included on the permit. Projects submitted on or after June 1 will incur the fee increase….With the new fee, the city anticipates it will take 12  to 18 months to implement the new software. After that, the fee increase will be used to support ongoing maintenance and improvement.”
• Journey Homes Plans 875-Home Development in Remote Milliken Property
  • BizWest | “After several years of owning a property in a remote section annexed to Milliken, Journey Homes is finally pulling the trigger on building 875 homes on a property called Flack Farm. The farm was annexed into the town via flagpole annexation in 2006 through an abandoned rail line…”
• Is Your Walmart Getting a Face-Lift? Company Selects 25 Colorado Stores to be Remodeled
  • The Denver Post | “Walmart has announced plans to remodel 25 of its Colorado stores this year….The retail giant aims to remodel more than 650 stores nationwide as part of its broader brand refresh….The planned updates will feature new bold signage and displays to better highlight merchandise, departments offering new products and an expansion of their online pickup and delivery services to fulfill the growing number of online customer orders. The pharmacy areas will also be redesigned with wider aisles, a private screening room and checkout zones that offer more privacy for customers. Over the past few years, Walmart has invested over $310 million to upgrade stores across the state.” Northern Colorado stores selected include: 4625 S. Mason St., Fort Collins and 1325 Denver Ave., Loveland.

ECONOMIC & EMPLOYMENT NEWS

• Will a NWSL Stadium Benefit Denver Businesses? Experts Debate if City’s $70 Million Investment Plan Will Pay Off
  • Denver Post | “Decades of research show that when cities shell out millions of dollars to build stadiums, they rarely recoup their costs — and the local economies see limited growth. That’s according to an analysis of more than 130 studies of local government stadium deals published in 2022 in the Journal of Economic Surveys. Generally, research shows the facilities only move spending within different parts of a city, rather than bringing in new dollars. ‘These are money pits,’ said Geoffrey Propheter, a professor at the University of Colorado Denver who researches the economics of sports facilities. ‘The vast majority of the burden ends up being on taxpayers.'” But, “The mayor’s administration, which designed the proposal with the team’s ownership, has produced its own economic study. It projects $2.2 billion in economic impact for the city over the next 30 years from the stadium and neighboring mixed-use development.” This report claims that, “the project would create 1,100 jobs, with a significant portion of that coming from indirect and ‘induced jobs,’ defined as ‘additional jobs created as direct and indirect workers spend their earnings in the community.’ The study’s authors made their calculations assuming that the neighboring development would bring in $700 million in construction spending on a hotel, restaurants and 2,500 housing units. They also assumed that only 10% of attendees would be people from outside metro Denver.”
• Consumer Outlook Hits Lowest Since 2011 as Tariff Fears Mount, Conference Board Survey Shows
  • CNBC | “The Conference Board’s Consumer Confidence Index fell to 86 on the month, down 7.9 points from its prior reading and below the Dow Jones estimate for 87.7. It was the lowest reading in nearly five years….The board’s expectations index, which measures how respondents look at the next six months, tumbled to 54.4, a decline of 12.5 points and the lowest reading since October 2011, (and)…the level of respondents expecting employment to fall over the next six months hit 32.1%, “nearly as high as in April 2009, in the middle of the Great Recession,” Guichard added. That contraction lasted from December 2007 until June 2009…. Future income prospects also turned negative for the first time in five years. The downbeat views extended to the stock market, with 48.5% expecting lower prices in the next 12 months, the worst reading since October 2011. Inflation expectations also surged, at 7% for the next year, the highest since November 2022. Driving the pessimism was fear over tariffs, which reached an all-time high for the survey. Recession expectations hit a two-year high as well.”
• Employers Added 177,000 Jobs in April Despite Tariff Uncertainty
  • WSJ | “The Labor Department reported Friday that the U.S. added 177,000 jobs in April, above the gain of 133,000 jobs that economists polled by The Wall Street Journal had expected to see. The unemployment rate, which is based on a separate survey from the jobs figures, held steady at 4.2%….The pace of April’s job gains was lower than the 185,000 jobs added in March. The gains for February and March were revised down by a combined 58,000 jobs. Hourly wages grew by less than expected compared with both a month ago and a year ago. Some of April’s job gains may have been driven by the burst of activity that occurred as companies worked to get in front of tariffs, said Pantheon Macroeconomics economist Samuel Tombs. Employment in the transportation and warehousing sector rose by 29,000 jobs last month.”

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 development opportunity in thriving west Greeley. The 5.847± acre development land is located within the City Center West Master Planned Community in Greeley, Colorado and is an exceptional property that offers versatile development options including retail/commercial, senior care facilities, and potential multifamily housing. The property comes development-ready with access and utilities adjacent to the site. Additionally, the site has 3 acre-ft/acre of raw water included.

The site offers a rare opportunity to acquire prime land in an area experiencing tremendous residential growth and just ten minutes from the proposed billion-dollar Cascadia project featuring a Colorado Eagles arena, water park, hotel, and plans for 6,000+ housing units.

Situated in a well-established and sought-after area of West Greeley, this property boasts exceptional convenience to daily amenities. As one of Northern Colorado’s most dynamic and rapidly appreciating markets, the location offers minutes from top-rated Greeley schools and close proximity to Boomerang Golf Course, providing beautiful views and recreation opportunities. The property is surrounded by plenty of existing rooftops with multiple large scale residential developments under construction, planned or proposed, creating a thriving community atmosphere with strong growth potential for investors and developers alike.

Click here to learn more about this opportunity nestled among an abundance of amenities!

See previous newsletters here.

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