Cushman & Wakefield director Travis Ackerman provides professional insight into local industrial real estate market.
From key statistics and under-construction properties to submarkets and supply and demand trends, Travis Ackerman, a director for Cushman & Wakefield Commercial Real Estate, offers a closer look at the latest industrial real estate market figures from in and around the northern Colorado city of Fort Collins.
“Developers in and around Fort Collins have finally responded to years of exceptionally tight conditions,” reveals Ackerman having carefully considered key industrial market statistics from the region.
The amount of recently available under-construction space has eclipsed an earlier cyclical peak by a factor of two, according to the expert. “Currently, the vast majority of ongoing speculative development is in logistics space,” adds Ackerman.
Travis Ackerman has recently been named as the Weld County area’s top industrial sector broker with an impressive 8.8 percent market share. His share of the market puts Ackerman well ahead of the competition, with the second and third best-performing brokers in the area commanding less than 8.5 percent of the market combined.
Looking more closely at industrial sector construction, the Cushman & Wakefield director goes on to highlight that while the volume of under-construction space remains below the peak, the amount of speculative development has recently been as high as it has been throughout the current cycle. Of under-construction industrial properties in the region, 14 projects are currently underway accounting for more than 200,000 square feet of new space. “Over 28 percent of this space is already preleased,” reveals Ackerman.
At a total of 204,971 square feet, newly constructed industrial space will account for 1.3 percent of Cushman & Wakefield Commercial Real Estate’s industrial sector inventory in the region.
Submarket growth primarily in outlying Larimer County looks promising, Ackerman suggests. “Across inventory, rent, and submarket vacancy and net absorption, the figures are mostly positive,” he explains, “although annualized quarterly rent in Fort Collins is currently trending down by around 1.4 percent.”
Supply and demand trends, says Ackerman, look promising too. “Overall, specialized, logistics, and flex supply and demand are all currently trending in a favorable direction,” he adds, wrapping up, “which looks set to continue into 2020 and for at least the next three years based on current projections.”
Travis Ackerman is a director for Cushman & Wakefield Commercial Real Estate specializing in the sale and lease of land and industrial, retail, and office space in North Colorado. Since 2007, Colorado State University graduate Ackerman has been involved in a total of more than 500 transactions worth in excess of $350 million. Known in the North Colorado real estate community for his integrity and work ethic, realtor and Colorado native Travis Ackerman is now recognized as one of the top commercial brokers in the region.