The City of Greeley has identified the west side of the city for high-potential growth for commercial investments. This is good news for commercial investors with future plans for shopping districts or commercial growth.
The west side of Greeley is attractive for many reasons, most of all the proximity to the I-25 corridor which has seen exponential growth in the last few years. Because of this, the competition for retail space is high in this area. The report places Greeley’s vacancy rate below 2 percent with rates projected to drop even further with increases in rent rates. The city will likely pursue growth opportunities in the coming years much more aggressively with growth projected by the U.S. Census at 142 percent through 2023.
In contrast, the east side of Greeley is projected to have flat growth or even lose residents as the town growth moves towards the west. Average household incomes on the west side of town range from $14,600 to $58,200.
The report commissioned by the city cited a report that shows high demand in west Greeley for furniture stores, electronics stores, groceries, gasoline, clothing stores, sporting goods outlets, restaurants, and more. This high demand for retail growth makes this area the perfect investment opportunity for commercial property in Northern Colorado.
LC Real Estate Group can help investors explore opportunities in this area both by developing commercial real estate strategy and brokering real estate deals. Contact us to learn more about commercial opportunities in Northern Colorado!