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Unformatted text preview: ings and bankruptcies, notably Ultimate Electronics and Borders. Retail vacancy increased to 8.1% from 7.8% in Q3 2010. Capital and very little new supply are constraining CRE market fundamentals, which is positive. Expect further leveling out of vacancy and rents before speculative development can resume. The Northern Colorado economy is attracting businesses and investors, due to good local governance, a burgeoning oil and gas industry focused on the Niobrara formation in Weld County, and the adaptive reuse of commercial space, such as Loveland’s Agilent Technologies site into NASA’s Aerospace and Clean Energy (ACE) Manufacturing and Innovation Park. When completed in 10 years, the campus will support 7,000 new jobs. The lack of new construction has generated positive absorption, decreased vacancy rates, and stabilized lease rates. CoStar Group reports the office, retail, and industrial vacancy rates for Q3 2011 in Fort Collins/Loveland were 9.4%, 7.4%, and 9.7%, respectively, compared with Q3 20...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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