Are restaurants in Northern Colorado struggling?
Struggling, no. Slowing, yes.
In 2018, 53 new restaurants opened, and 29 closed. So far in 2019, 9 restaurants have opened, and 11 have closed. From 2017 to 2018, total sales at restaurants and bars in Fort Collins jumped 6.7%. The jury is still out on 2019 restaurant sales figures, however, the slowing in Q1-Q2 restaurant openings indicate a leveling off trend thus far in 2019.

Why are new restaurants closing?
New operators are facing challenges like: 1. build-out costs 2. rising rents 3. Increases in NNNs directly related to 25%+ increases in real estate taxes over the past 2 assessment cycles and 4. labor costs with minimum wage increasing by roughly 34% each year are affecting new operators. The best concepts in "A" locations have thrived.
Happy Hour at Infinite Monkey Theorem Urban Winery in Fort Collins
Has multi-family peaked in the Fort Collins/Loveland market?
Consider these multi-family stats from CoStar analytics
  • The occupancy rate in the Fort Collins/Loveland market is currently 90.8 percent. The five-year average occupancy rate is 93.6 percent.
  • 329 units have been absorbed over the past year. The five-year average is 218 per year
  • 1,275 units are currently under construction and scheduled to be delivered over the next four quarters. This represents a 13 percent increase in total inventory.

What's next?
That will be decided by the absorption rate. Steady employment and population growth lead us to believe that absorption over the next five years will exceed the average absorption rate over the last five years of 218 units/year.

With such a substantial increase in overall inventory, we anticipate a continuation of the most recent trends over the short-term: Flat rent growth (1-1.5 percent) and an occupancy rate hovering around 90 percent.
For You Data Junkies
Enjoy some CRE Stats for the Fort Collins-Loveland Market
 POWER Tips from Tom


Tom Hall
Director of Property Management
Summer Pricing - Peak Utility Rates
Although we are still a few weeks out from the official first day of Summer, Fort Collins Utilities Summer pricing is now in full effect. As of May 1, FC Utilities' Time-of-Day On-Peak hours are from 2-7pm on weekdays. Off-peak utility prices are approximately 70% less than on-peak prices. Help mitigate the increase in cost with a few energy-saving tips:
  • Set your thermostats a little higher in the summer, and a little lower in the winter. You can save 14% on cooling costs for every 2 degrees.
  • Pre-cool your spaces before 2pm in the summer, and pre-heat your spaces before 5pm in the winter
  • Now is the time to finally upgrade to LED bulbs, which use 75% less electricity than incandescent bulbs
  • Speaking of upgrades, explore the efficiency and conservation programs and rebates
Better Tenant Care = a Better Bottom Line
Rising costs and neglected spaces have a number of tenants looking to relocate as soon as they can. As a building owner or investor, it is important to remember that your bottom line relies on the satisfaction of your tenant, and cutting costs won't do either of you any favors. The cost of losing a tenant can be significant, and many times it is avoidable if you take the necessary steps and investments up front. Get to know your tenants, and their industries and needs. Work with your tenants in coming up with creative solutions for rent payment schedules, build out costs, and operating expenses. Maintain your property, don't wait until it's vacant to fix it up. Work collaboratively with your tenant on lease renewals. Taking these measures could save you a lot come lease renewal time.
Organizations we LOVE
TODAY is the last day to become a sponsor for RamStrength's annual benefit golf tournament on June 24th, 2019. The event will be held at Collindale Golf Course at 1pm. For more information on registering or sponsoring, click here.
RamStrength supports local cancer survivors by providing financial assistance for basic needs, scholarships, programs and services.
Howdy Neighbors
Colorado Early Colleges will be opening up a new school at 4701 Royal Vista Circle in Windsor, Colorado. CEC is a public charter school offering college courses to high school students, tuition free.
Learn more by clicking here.
Welcome to Fort Collins, Kobobel Fire Protection! Kobobel Holdings, LLC recently purchased a building at 2329 E Mulberry St. Kobobel Fire Protection delivers high quality sprinkler systems to CO and WY. View their website by clicking here.
Infinite Monkey Theorem is now open at The Exchange! The urban winery concept opened their third Colorado location on February 16th in Fort Collins. Check them out by clicking here.
Welcome Old Town Putt! The indoor mini golf and Old Town bar opened on May 17th at The Exchange . Click here to read more about them
Waypoint News

Have you heard? We've launched Development Services as part of our full-service real estate model. Read more HERE.


Waypoint Real Estate Director of Development Todd Parker was recently published in BizWest in an article addressing water and the site selection process. Check it out by clicking here.
Todd Parker
Director of Development
Recent Waypoint Deals

  • Sale of 18,731 SF Office to Developer at 629 S Howes
  • Lease of 2,573 SF Office to Beautiful Time Antiquities at 1518 S College
  • Sale of Investment Multifamily Unit at 1713 Erin Court
  • Lease of 16,848 SF Office to Summitstone Health Partners at 4856 Innovation
  • Lease of 3,100 SF Office to Rocky Mountain Tours at 3944 JFK Parkway
  • Lease of 3,624 SF Retail to Old Town Putt at The Exchange
  • Lease of 4,547 SF Office to TransCorr at Front Range Village
  • Lease of 6,007 SF Office to CBRE at 3003 E Harmony Road
  • Lease of 7,240 SF Office to Clear Company at Front Range Village
  • Lease of 2,752 SF Office to Greystone Technology at Front Range Village
  • Sale of 10,248 SF Office to PetDine Properties, LLC at 4700 Innovation
  • Lease of 2,540 SF Office to Reliable Power Consultants at 2020 Lowe Street
  • Sale of Investment Multifamily Unit at 1720 Azalea
  • Sale of 2,554 SF Office at 8010 S CR 5
  • Sale of 39,548 SF of Land to All Aboard Animal Rescue and Shelter Inc. at 2115 S Timberline
  • Sale of 10,171 SF Office to Ent Credit Union at 243 N College Ave.
  • Sale of 7,680 SF Industrial to Kobobel Fire Protection at 2329 E Mulberry
  • Sale of 2,880 SF Industrial at 6322 S College Ave.
  • Lease of 7,51 SF Office to Microsoft at Front Range Village
  • Sale of 4,997 SF building at 4701 Royal Vista Circle
  • Lease of 13,950 SF Office to Tender Care Pediatrics at 5677 Boeing Drive
  • Lease of 3,612 SF Retail to Crooked Stave at The Exchange
  • Sale of 87,120 SF Land at 5826 Byrd Drive
  • Lease of 1,800 SF Office to Process Technology, Inc. at 1800 E Lincoln
  • Sale of 2,154 SF Office at 405 S Mason Court, Unit 115
  • Lease of 1,507 SF to OnBeat Digital at 3003 E Harmony Road
  • Sale of Investment Multifamily Unit at 608-608.5 Grant
  • Lease of 4,055 SF Office to Grant and Hoffman Law Firm at 141 South College
  • Sale of Investment Multifamily Unit at 1709 Erin
  • Lease of 1,758 SF Office to Norris Design at The Exchange
  • Sale of Investment Multifamily Unit at 1206 Montgomery
  • Lease of 4,974 SF Retail to Anytime Fitness at 302 S College
  • Sale of Investment Multifamily Unit at 701 Mathews
  • Sale of Investment Multifamily Unit at 820 Gallup
  • Lease of 2,000 SF Office to GOAL Academy at 206 E 29th St
  • Sale of Investment Multifamily Unit at 1012 Garfield
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