New year off to good start for commercial real estate
It’s a new year full of new opportunities. With the annual Energy Forum & Expo set for Feb. 28 in Grand Junction, it was an especially timely announcement from WPX Energy the company will add more drilling rigs to its operations in Western Colorado.
A huge network of contractors relies on WPX and its decisions in the market. This network extends beyond energy development suppliers to the service businesses, restaurants and retailers that promote employment and diversity in the Grand Valley. While I’m not an expert on energy development, it’s plain to see energy related businesses play a big role in the economic health of the community.
Meanwhile, opportunities for small business expansion abound in the Grand Valley. Coldwell Banker Prime Properties has listings for a donut shop/restaurant, event and party rental business, ice cream business and liquor store, just to name a few.
The inventory for industrial warehouse space is down. A 5,000 square foot office warehouse on a half-acre to an acre of property will always lease in this valley. There’s a low vacancy rate for the industrial leasing market with most of the small warehouses occupied at this time. This makes for happy owners and busy communities.
Investment properties in Grand Junction and the surrounding area remain in high demand — making them easy to sell, but difficult to find.
Office and retail space is the most abundant at this time. With the opening of a new medical office complex on G Road and several free-standing medical offices, older medical office spaces are becoming available and will need makeovers for new owners and users.
My personal business goals for 2014 year include increasing my listing inventory to provide clients with more real estate lease and purchase choices to grow their businesses and portfolios.
It looks as though 2014 is off to a positive start for the commercial real estate market in the Grand Valley.