The Northern Colorado Commercial Real Estate Market

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The mountainous Northern Colorado region features a collection of cities with multiple promising commercial real estate opportunities. With a thriving, diverse economy and low unemployment levels, Northern Colorado invites investors and tenants alike to invest in a hotbed of commercial properties. Regardless of their investment targets, those who are interested will find a plethora of available properties on Crexi.

Brokers representing property in Northern Colorado cities such as Fort Collins and Loveland also use Crexi to list and navigate their listings from start to close. With Crexi, brokers can instantly connect to thousands of viable buyers and tenants who’ve indicated an active interest in Northern Colorado property.

As of this writing, buyers and brokers have used Crexi to close more than $440 billion in asset sales, representing an upward of $5 trillion in value.

Crexi proudly serves Northern Colorado, Loveland, Fort Collins, Greeley, and the surrounding cities as the fastest-growing online commercial real estate marketplace.

Boulder Movie Theater in downtown Boulder, Colorado

The State of Commercial Real Estate in Northern Colorado

Northern Colorado is an attractive option for those wanting to invest in or rent commercial real estate. It has a thriving economy, affordable cost of living, excellent access to transportation networks, and a supportive business climate. This combination of affordability and opportunity makes it the perfect place for businesses looking to acquire real estate or relocate their operations.

Ft. Collins is the largest city in Northern Colorado and is home to Colorado State University. With its vibrant downtown district and many outdoor recreation options nearby, it’s easy to see why so many people call the area home. Greeley is known for its agricultural roots and being a center for commerce and industry throughout Northern Colorado. Loveland rounds out the list with its charming downtown district, incredible arts scene, and many breweries.

Northern Colorado Regional Overview

Northern Colorado is one of Colorado’s most dynamic and fastest-growing regions, according to Why Northern Colorado? 2023 from CBRE. The market boasts an innovative economy, strong job growth, world-class outdoor activities, and superb cultural offerings. 

Additionally, a resilient population with a projected growth of one million by 2039 and an unmatched work-life balance make it an excellent market for commercial real estate investments. The region’s enterprising spirit has attracted individuals and companies globally, while top programs at notable universities provide a steady talent pipeline to fuel its burgeoning workforce.

  • Population: 721,094
  • 10-year growth rate: 30.5%
  • Projected population (2027): 766,879
  • Major cities: Ft. Collins, Greeley, Loveland, Evans, Berthoud, Windsor
  • Counties: Larimer and Weld
  • Median age: 36.5 vs 38.9 US
  • Median household income: $83,993 vs $72,414 in the US
  • Projected household income (2027): $102,232
A train rides through the Colorado mountains

Northern Colorado Job Market

  • Unemployment: 3.3%
  • Job growth: 3.5% in 2022
  • Key industry sectors: Aerospace, agriculture and food products, bioscience, education, energy, financial services, health and wellness, manufacturing, professional and creative services, technology and telecom
  • Major employment by industry: Government, wholesale and retail trade, professional and business services, leisure and hospitality, education and health services, manufacturing, natural resources, and construction
  • Labor force participation rate: 69.0% Colorado vs 62.3% US
  • Largest employers include: AMD, Microsoft, Banner Health, Chase Bank, Wells Fargo, Colorado State University, Heli-One, Scion Aviation, Agilent Technologies, Medtronic, Anheuser Busch, J.M. Smucker Company, Chevron, Occidental Petroleum, State Farm Insurance, CDC, FDA, USDA.
  • Talent quality: 26% hold a bachelor’s degree, while 16% have a graduate or professional degree
  • Top colleges and universities (Front Range): Colorado State University, University of Northern Colorado, University of Colorado Boulder, University of Colorado Denver, University of Denver, Colorado School of Mines, US Air Force Academy, Colorado College
  • Connections: Northern Colorado Regional Airport with 1-hour shuttle service to DIA (Denver International Airport), Greeley-Weld County Airport is one of the fastest-growing in the state, with easy regional access to major highways and railways.
  • Key infrastructure projects: I-25 expansion $750 million, Chimney Hollow Reservoir $500 million, Northern Colorado airport expansion $26 million
A city with the Colorado mountains in the background.

The Northern Colorado Real Estate Market

Northern Colorado is a premier market for commercial real estate investments, with solid job growth and a resilient population projected to reach one million by 2039. It also offers world-class outdoor activities, superb cultural offerings, and an unmatched work-life balance. These factors combine to make it an attractive option for investors from around the globe.

CRE submarkets in Northern Colorado are Ft. Collins, Greeley/Evans, I-25 North, I-25 South, Loveland/Berthoud, Weld County South, and Windsor. 

Northern Colorado Industrial Market

The Northern Colorado industrial market is experiencing remarkable growth, with record-breaking net absorption and increased asking lease rates. A massive development pipeline has been set in motion by the largest construction project ever seen in the region, headed up by Amazon. Direct vacancy decreased significantly year-over-year, while total availability also saw a decline.  

  • Total industrial inventory: 35,527,341 SF
  • Average asking rent: $11.55 per SF year, NNN, an increase of 9.2% year over year
  • Direct vacancy rate: 4.2%, a decrease of 0.60% compared to the same period last year
  • Absorption: 1,059,646 SF in 2022
  • New construction: 1.1 million SF delivered with another 5 million under construction
  • Sales volume: $322 million in 2022
  • Key sales transactions by property: 1132 Diamond Valley Dr. in Windsor $11.7 million ($252/SF), 4250 Salazar Way in Frederick $11.1 million ($326/SF), 285 County Rd 27 in Brighton $9.1 million ($243/SF)
  • Largest industrial submarkets: Ft. Collins, Greeley/Evans, I-25 North, Loveland/Berthoud

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The Colorado mountains at sunset.

Northern Colorado Office Market

The Northern Colorado office market boasts positive net absorption, low vacancy rates, increasing direct lease rates, and a relatively small development pipeline of only one project of 5,100 SF in the Greeley/Evans submarket. In addition, investment sales volume has been healthy despite the economic headwinds seen in recent years.

  • Total office inventory: 10,468,111 SF
  • Average asking rents: $16.34 per SF per year, NNN
  • Overall vacancy rate: 5.2%
  • Absorption: 46,862 SF in 2022
  • New construction: 77,000 SF delivered in 2022, with 5,000 SF under construction.
  • Investment sales trends: $32.3 million in H2 2022
  • Largest office submarkets: Ft. Collins, Greeley/Evans, I-25 North

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Northern Colorado Retail Market

The Northern Colorado retail market is seeing an impressive surge in activity, with sales volume and positive net absorption rising significantly year-over-year. Construction activity remained strong throughout 2022. The significant amount of new space signals investor confidence despite economic uncertainty.

  • Average asking rent: $16.82 per SF per year, NNN, increasing by 3.5% year over year
  • Direct vacancy rate: 4.2%
  • Net absorption: 117,000 SF in 2022
  • New construction: 89,000 SF delivered YTD with 279,000 SF under construction (up from 37,000 SF one year ago)
  • Investment sales trends: Nearly $300 million in transactions in 2022 at an average price of close to $200/SF

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A suburban neighborhood in Ft Collins, Colorado

Northern Colorado Multifamily Market

Colorado has experienced a shift in housing construction this year, according to a report from the Greeley Tribune, with more multifamily projects being permitted than single-family. This is unprecedented – historically, multifamily projects have represented 30% of all housing permits issued; since 2012, it has been closer to 40%. 

Here are the most recent multifamily trends for the two largest metros in Northern Colorado, based on data from Census Reporter and Zumper (March 2023):


  • Total housing units: 162,058
  • Renter occupied: 45%
  • Median rent 1-bed: $1,390 (13% increase YoY)
  • Median rent 2-bed: $1,600 (6% increase YoY)
  • Median rent 3-bed: $2,200 (5% increase YoY)
  • Median age: 36.4
  • Median household income: $78,109


  • Total housing units: 129,914
  • Renter occupied: 39%
  • Median rent 1-bed: $1,050 (11% increase YoY)
  • Median rent 2-bed: $1,295 (8% increase YoY)
  • Median rent 3-bed: $1,800 (9% decrease YoY)
  • Median age: 35.2
  • Median household income: $85,290

Discover Northern Colorado multifamily apartments for sale.

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Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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