NoCo Newsletter | November 21, 2024

Photo: 1856 Democracy Point, Colorado Springs, (unique investment presented by NAI Affinity) reserved for the exclusive use of NAI Affinity.

NoCo Newsletter | November 21, 2024

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of future developments, energy initiatives, CPI data, and more.

Don’t forget – NAI Affinity is a proud drop-off location for the Realities For Children Santa’s Workshop. Now through December 10th, we are collecting NEW Toys, NEW winter coats, and retail gift cards (for teens) at our office at 3665 John F Kennedy Pkwy, Bldg 2, Ste 202, Fort Collins. Realities For Children provides for the unmet needs of Northern Colorado youth who have been abused, neglected, or are at-risk, and we need your help to provide them with a gift of their own, under the tree this Christmas.

REAL ESTATE & BUSINESS NEWS

Feature: NoCo Class A Markets See Resilience & Bifurcation, Jake Hallauer, CCIM, President, NAI Affinity

• Greeley Leaders React to ‘Stunning Visuals’ of Cascadia Project
  • “The expected billion-dollar project would provide a new arena for Lind’s Colorado Eagles minor-league hockey team, youth hockey rinks, an indoor water park with 12 water slides, a hotel and convention area, spaces for restaurants and shops, and eventually more than 6,000 residential housing units. Greeley leaders went to an outside firm to evaluate the project’s financial viability and expect results in about four to six weeks.” (BizWest)
• Construction to Begin on New Fort Collins Trail Connection, Overpass
  • “The city is beginning construction next month on the Siphon Pedestrian Overpass, which will provide a path from the new Mail Creek Trail over the Union Pacific Railroad tracks and onto the Power Trail….The project is expected to cost $4 million.” (Coloradoan)
• Northern Colorado’s Newest Golf Course a Summer Away
  • “The Podtburg family of Johnstown… (has) taken almost a decade to transform their longstanding dairy farm into what they hope will be a family-friendly, fun golf course for all levels by the end of next summer. For Schaupeter, who designed TPC Colorado in Berthoud and Highland Meadows in Windsor, this was a unique challenge to turn a 200+/- acre farm of rolling hills into a course that could challenge even the most experienced players, yet provide enough flexibility for the novice.” (BizWest)
• Berthoud Tables One Subdivision, OKs Another 
  • “Faced with neighbors’ continued protests about a high-density development and its potential impact on area wildlife, the Berthoud Board of Trustees Tuesday voted to delay until February the question of whether to approve annexation of 98 acres for the proposed 416-unit River Trails subdivision. Another proposal closer to the existing town, the 165-unit Fickel Farm Fifth Filing, cruised to unanimous approval. Both proposals came from Berthoud-based TB Group and had been approved unanimously Oct. 24 by the town’s Planning Commission.” (BizWest)
• October Home Listings, Sales Up Across Northern Colorado, Boulder Valley
  • “Fort Collins posted an October median sales price of $628,850, up 8.3% from the same month last year and the second-highest figure of 2024. The city had 193 homes sold last month on 613 listings, 24.6% more homes than were listed last October. The Greeley-Evans market had a median October sales price of $415,000, down 2.4% year over year and the second-lowest price recorded in 2024. The market saw 88 homes sold last month on 265 active listings, an increase of 15.2% over October 2023….The Loveland-Berthoud market saw median sales price rise 4% year over year to $572,000 in October. There were 126 homes sold last month in the market on 434 active listings, a listings increase of 29.2% from the previous October.” (BizWest)
• Amazon Targets Delivery Operations in Bid for Bigger Grocery Business
  • “Amazon.com is testing new grocery formats that blend its broad assortment of online goods with in-person shopping, as the nation’s largest e-commerce retailer strains to expand its role in a market dominated by grocery giants with sprawling store networks. Amazon’s new designs aim to pull together various fulfillment networks for its Whole Foods Market premium grocery business and its mass-market Amazon Fresh stores into a common delivery platform, giving the grocery businesses greater scale with online customers as rivals including Walmart, Target and Kroger invest more in using their larger numbers of stores as distribution hubs.” (WSJ)

ECONOMIC & EMPLOYMENT NEWS

• Here Are the Key Takeaways From the US CPI Report for October
  • “Here are the key takeaways from the October US consumer price index report released Wednesday:
    • The monthly increase in both the headline CPI and the core, which strips out food and energy, rose in line with economists’ forecasts. The headline was up 0.2% for the fourth straight month, while the core rose 0.3% for a third consecutive month. As has been the case for some time, housing drove most of the core CPI increase.
    • The 12-month gains also matched economists’ expectations, with the headline accelerating to 2.6% from 2.4% in part thanks to “base effects” from a low inflation rate a year before, and the core rate stuck at 3.3%. The annual core CPI rate hasn’t come down since July, and has averaged 3.5% so far in 2024.
    • Falling energy prices help explain why the headline CPI is running lower than core. On a monthly basis, besides housing, the core CPI was led higher by used cars and trucks, airfares, medical care and recreation.
    • The Biden administration said the report showed inflation is close to its pre-pandemic rate, while Minneapolis Fed President Neel Kashkari said he has confidence that “inflation is headed to the right direction.”
    • Treasuries advanced, suggesting relief that inflation didn’t exceed forecasts for October. Two-year yields were down about 9 basis points as of 9:09 a.m. in New York, and interest-rate futures showed rising confidence among traders that the Fed will lower its benchmark by 25 basis points next month. Stock futures erased declines, and contracts on the S&P 500 were little changed.” (Bloomberg)
• Feds Release Options for Future of Colorado River as Negotiations Between States Stall
  • “The four alternatives range from doing nothing to major changes to how the river’s two major reservoirs — Lake Powell and Lake Mead — are operated. The alternatives present different variations of who should take water cuts, how those water cuts are decided and what factors should determine releases from Mead and Powell. The Upper Basin states send water downstream to fill the reservoirs, which the Lower Basin states rely on for their water supply. The option to do nothing is also presented in the proposal as a formality, since that is required by federal law.” (The Denver Post)
• Platte River Set to Build Battery Storage Project in Estes Park
  • “The  U.S. Department of Energy’s Grid Deployment Office awarded $350,000 to help fund the project. Platte River’s energy storage strategy includes three approaches: four-hour storage on the transmission system to integrate renewables; long-duration storage for extended energy needs; and four-hour community storage on the distribution system to align energy use with renewable generation and opportunities to support the unique needs of the owner communities, according to a news release.” (BizWest)
• University of Colorado System is an Economic Engine for State
  • “When you include the UCHealth University of Colorado Hospital and Children’s Hospital Colorado at the CU Anschutz Medical Campus, the economic-impact of the system — which includes the University of Colorado Boulder, the University of Colorado Colorado Springs, the University of Colorado Denver and the University of Colorado Anschutz Medical Campus — the fiscal 2023 economic-impact total jumps to $19.3 billion.” (BizWest)
• Denver City Council Approves Mayor’s $4.4B Budget
  • “Denver City Council unanimously passed Mayor Mike Johnston’s $4.4 billion 2025 budget. This year’s general fund budget, $1.76 billion, will see a mere 0.6 percent increase from last year’s $1.74 billion general fund budget. This is the slowest growth in the general fund the City of Denver has seen in 14 years, since just after the great recession.” (Denverite)

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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