NoCo Newsletter | December 28, 2023

NAI Affinity
• 
December 28, 2023

NoCo Newsletter | December 28, 2023

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of self-storage assets, the latest Colorado population and unemployment statistics, expansions and groundbreakings, and more.

REAL ESTATE & BUSINESS NEWS

  • Headwinds Aside, Self-Storage Deals are Happening
    • "Even though we are facing what seems to be continuing headwinds, deals are still getting done; however, they are taking longer and often require a more creative approach." (written by NAI Affinity Advisor, Lauren Larsen, for the Colorado Real Estate Journal)
    • Lauren Larsen is one of four team members who created the Nunez Self-Storage Group, initiated by Denise Nunez with NAI Horizon, in partnership with NAI Global to bring an unparalleled level of experience and expertise to the table of every self-storage transaction ranging from the sale of: mom & pop facilities to new developments, all the way up to institutional quality Class A properties and portfolio sales.
  • Locally Owned Red House Tools Opens Headquarters Facility
    • "A Northern Colorado-based precision tool and accessory manufacturer has officially opened its headquarters....Marc Robson of NAI Affinity represented Red House Tools in the lease transaction." (Colorado Real Estate Journal)
  • Startup Tool Manufacturer Establishes HQ in Loveland
    • “The 33,250-square-foot warehouse, manufacturing facility, and distribution center in Loveland allows us room to operate and grow with our existing products as well as the new and exciting product lines scheduled for release over the next five years and beyond,” said Earnhart.
    • "The new headquarters, located at 3950 Medford Drive off of Boyd Lake Avenue in Loveland, is in a leased facility with a 10-year term. Marc Robson, an advisor with NAI Affinity, handled the transaction." (BizWest)
  • Medical Center of the Rockies Launches $280M Expansion
    • "UCHealth officially broke ground Monday on a major expansion project at Medical Center of the Rockies that is designed to help meet the growing health care needs of Northern Colorado. The project includes a new tower that will be built on the north side of the hospital, the creation of a cancer center," and more. (BizWest)
  • Developer Plans New Mixed-Use Project That Includes CSU Workforce Housing in Fort Collins
    • "The developer of Strauss Lakes — a residential development on 185 acres at the corner of Horsetooth and Ziegler roads first proposed two years ago — is back with a new concept for 1,323 market-rate, workforce and affordable housing units....All but about 17 acres of the parcel are in Larimer County and would need to be annexed into the city before any development plan is approved." (Coloradoan)
  • Larimer Court Sets Trial Date for Centerra South Dispute
    • "The case pits McWhinney Real Estate Services Inc. against the city of Loveland. The city established the Centerra South urban renewal district and a related master finance agreement to help McWhinney develop infrastructure on a parcel south of U.S. 34 in east Loveland. After city council elections, however, the new council voted to dismantle the URA and finance agreement, which prompted the lawsuit that claimed breach of contract." (BizWest)

ECONOMIC & EMPLOYMENT NEWS

  • Fed Official Says Rate Cuts Could Be Needed Next Year to Prevent Overtightening
    • "A Federal Reserve official said it is appropriate for the central bank to begin looking ahead to lowering interest rates in 2024 because of how inflation has improved this year. San Francisco Fed President Mary Daly said her outlook for interest rates and inflation was “very close” to the median of projections from 19 Fed officials last week. Most of them penciled in at least three rate cuts next year amid a faster decline in inflation than they anticipated." (WSJ)
  • Lightning eMotors Assets to be Sold, Receiver Appointed
    • "Assets of Loveland-based electric-vehicle company Lightning eMotors Inc. and its subsidiary, Lightning Systems Inc., will be sold, with proceeds going to creditors, according to a filing the company made with the Securities and Exchange Commission..." (BizWest)
    • In its third-quarter earnings report, Lightning shared, "if we are unable to obtain the necessary funding and/or complete a strategic transaction, we could be required to liquidate inventory, cease or curtail operations, or seek protection under applicable bankruptcy laws or similar state proceedings.” (BizWest)
  • Colorado Maintains Unemployment Rate at 3.3%
    • "The unemployment rate for Larimer and Boulder counties was 2.8% in November. Broomfield had a 3.2% unemployment rate, and Weld County matched the state rate at 3.3%." (BizWest)
  • Colorado Population Growth Bouncing Back, but Not as Much as Forecast
    • "But even though population gains were 24% higher in 2023 than they were in 2022, the state (Colorado) remains well short of the 75,000 a year added on average last decade and the 51,900 the state demography office had forecast." (The Denver Post)
    • "Colorado’s population growth rate was in line with the national average. But the popularity that western states long enjoyed has shifted to southern states, which accounted for nearly 9 in 10 of the population gains the country experienced in the most recent count, according to the U.S. Census Bureau." (The Denver Post)

COMMUNITY & OTHER INDUSTRY NEWS

FEATURED LISTING

NAI Affinity is pleased to present this outstanding end-cap retail space for lease with high visibility along Crossroads Boulevard. Just south of the 7,200 seat Budweiser Event Center, 263 key Embassy Suites Hotel and Conference Center, and in close proximity to many large residential neighborhoods, employment, other retail, and entertainment. The unit is currently built out as a liquor store with an open floor plan, kitchenette area, private restroom, and building signage available to tenant. Located next to QDOBA Mexican Eats. Click here to learn more about this opportunity.

image - NoCo Newsletter | December 28, 2023 - NAI Affinity

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