OFFERING MEMORANDUM John F Kennedy Parkway / Fort Collins, Colorado EXCLUSIVE LISTING ADVISORS Jared Goodman, CCIM Director +1 970 267 7723 [email protected]Brian Mannlein Director +1 970 267 7739 [email protected]Executive Summary PAGE 4 Project Description PAGE 5-10 Financial Information PAGE 11-14 Market Overview PAGE 15-19 The Team PAGE 20 THE OVERLOOK MIXED-USE DEVELOPMENT OPPORTUNITY A Northern Colorado Premier Apartment Living Community 772 Whalers Way, Suite 200 Fort Collins, Colorado 80525 T +1 720 776 3900 F +1 720 267 7419 cushmanwakefield.com
Transcript
OFFERING MEMORANDUMJohn F Kennedy Parkway / Fort Collins, Colorado
CONFIDENTIALITY & DISCLAIMERThe Overlook Mixed-Use Development
CONFIDENTIALITY AGREEMENT & DISCLAIMERTHIS IS A CONFIDENTIAL MEMORANDUM intended solely for your limited use to determine whether you wish to express an interest in the Property located at John F Kennedy Parkway, Fort Collins, Colorado 80525, as more particularly described herein (“Property”). This confidential memorandum contains brief, selected information pertaining to the business affairs of the Property’s owner (“Owner”) and has been prepared by Cushman & Wakefield, the Owner’s exclusive agent, primarily from information supplied by the Owner. Although representatives of the Owner have reviewed this confidential memorandum, it does not purport to be all-inclusive or contain all of the information that a potential investor may desire. Neither the Owner, nor any of its members, officers, directors, employees or agents, nor Cushman & Wakefield make any representation or warranty, expressed or implied, as to the accuracy or completeness of any of the information contained herein. Both Owner
fashion or manner detrimental to the interests of the Owner. Further, you agree not to discuss this memorandum with any other institution, potential investor or tenant without the express permission of Cushman & Wakefield and the Owner. Upon request, the recipient will promptly return this confi-dential memorandum and any other material received from the Owner or Cushman & Wakefield without retaining any copies thereof.
This confidential memorandum shall not be deemed an indication of the state of affairs of the Owner or constitute an indication that there has been no change in the business or affairs of the Owner since the date of preparation of this memorandum. Neither the Owner nor Cushman & Wakefield undertakes any obligation to provide additional information or to correct or update any of the information contained in this confidential memorandum.
and Cushman & Wakefield disclaim any liability which may be based on such information, errors therein, or omissions therefrom. All financial data contained herein is unaudited. The projections and pro-forma information contained herein represent estimates based on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that the actual results will conform to such projections. There is no repre-sentation as to environmental conditions of the Property, or as to any other aspect of the Property.
By your receipt of this confidential memorandum, you agree that this memorandum and the information contained herein are of a confidential nature and that you will hold and treat them in the strictest of confidence, and that you will not, directly or indirectly, disclose or permit anyone else to disclose this memorandum or any part of the contents in any
EXECUTIVE SUMMARYThe Overlook Mixed-Use Development
Offering Summary
John F Kennedy Parkway / Fort Collins, Colorado
Building Square Feet 133,039
Number of Units 106
Office/Retail Square Feet 7,434
Site Area 142,127
Zoning E-Employment
Proforma NOI $1,676,241
Cushman & Wakefield, as exclusive advisor, is pleased to present this outstanding opportunity to develop this fully entitled infill parcel or joint-venture with the owner.
The Overlook stands alone in Northern Colorado as the premier apart-ment living community. Unequalled in design and sophistication. The Overlook is a rare infill development opportunity offering a true Class A finish. With superior views of the front range mountains, this location in south Fort Collins offers all of the amenities a home desires, but little of the noise and population. This fully entitled property is ready for a developer to move quickly and provide Fort Collins with a product that has long been missing – true Class A luxury in the heart of the city. No need to assemble parcels, go through the city planning and fight the tough barriers to entry. Hit the ground running and take advantage of a spectacular site with a phenomenal design.
Joint Venture Development OpportunityRare opportunity to team up with the current owner to develop this unique premier apartment community in the heart of Fort Collins. Due to the owner’s vision and 16 years of city government-related experi-ence on the Zoning Board of Appeals and the Planning & Zoning Board he was able to maximize the development potential of this site. The Overlook is fully entitled through the City of Fort Collins setting up a development ready site.
Fee Simple Sale OpportunityPurchase the land with entitlements ready for development for $2,950,000. Time to market is key with this product. With this approved project you will shave a year off your time to market.
CAP = 5.35% $31,303,426 $31,929,495 $32,568,085 $33,219,446 $33,883,835 $34,561,512LESS TOTAL PROJECT COST: -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111LESS SELLING EXPENSES: 3.00% -$939,103 -$957,885 -$977,043 -$996,583 -$1,016,515 -$1,036,845ESTIMATED GAIN ON SALE OF BLDG IF SOLD: $2,163,213 $2,770,499 $3,389,931 $4,021,752 $4,666,209 $5,323,556
NET CUMULATIVE GAIN IF SOLD: $2,637,248 $3,278,059 $3,931,687 $4,598,387 $5,278,421 $5,972,056
Commercial Unit 3Commercial Unit 4
Commercial Unit 6
Commercial Unit 4
Commercial Unit 6
Pro Forma Cash Flow Analysis
LEVERAGED ROI:
0
Less Operating Expenses:
Residential Gross Rental Income
Less Operating Expenses:
Operating Expense Reimbursements (NNN)Commercial Unit 1Commercial Unit 2Commercial Unit 3
Commercial Base RentCommercial Unit 1Commercial Unit 2
Top Floor Premium
Commercial Unit 5
Commercial Unit 5
BUILDING VALUE (SALE):
Information contained herein is from sources believed to be reliable. However, Cushman & Wakefield does not warrant or guarantee that the information is accurate and advises investors to perform their independent analysis of the property. Investors are stongly encouraged to seek appropriate tax and legal counsel.
PERMANENT DEBT SERVICE:
BEFORE TAX CASH FLOW:CASH FLOW + PRINCIPAL EQUITY GAIN:
CAP = 5.35% $31,303,426 $31,929,495 $32,568,085 $33,219,446 $33,883,835 $34,561,512LESS TOTAL PROJECT COST: -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111LESS SELLING EXPENSES: 3.00% -$939,103 -$957,885 -$977,043 -$996,583 -$1,016,515 -$1,036,845ESTIMATED GAIN ON SALE OF BLDG IF SOLD: $2,163,213 $2,770,499 $3,389,931 $4,021,752 $4,666,209 $5,323,556
NET CUMULATIVE GAIN IF SOLD: $2,637,248 $3,278,059 $3,931,687 $4,598,387 $5,278,421 $5,972,056
Commercial Unit 3Commercial Unit 4
Commercial Unit 6
Commercial Unit 4
Commercial Unit 6
Pro Forma Cash Flow Analysis
LEVERAGED ROI:
0
Less Operating Expenses:
Residential Gross Rental Income
Less Operating Expenses:
Operating Expense Reimbursements (NNN)Commercial Unit 1Commercial Unit 2Commercial Unit 3
Commercial Base RentCommercial Unit 1Commercial Unit 2
Top Floor Premium
Commercial Unit 5
Commercial Unit 5
BUILDING VALUE (SALE):
Information contained herein is from sources believed to be reliable. However, Cushman & Wakefield does not warrant or guarantee that the information is accurate and advises investors to perform their independent analysis of the property. Investors are stongly encouraged to seek appropriate tax and legal counsel.
PERMANENT DEBT SERVICE:
BEFORE TAX CASH FLOW:CASH FLOW + PRINCIPAL EQUITY GAIN:
CAP = 5.35% $31,303,426 $31,929,495 $32,568,085 $33,219,446 $33,883,835 $34,561,512LESS TOTAL PROJECT COST: -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111 -$28,201,111LESS SELLING EXPENSES: 3.00% -$939,103 -$957,885 -$977,043 -$996,583 -$1,016,515 -$1,036,845ESTIMATED GAIN ON SALE OF BLDG IF SOLD: $2,163,213 $2,770,499 $3,389,931 $4,021,752 $4,666,209 $5,323,556
NET CUMULATIVE GAIN IF SOLD: $2,637,248 $3,278,059 $3,931,687 $4,598,387 $5,278,421 $5,972,056
Commercial Unit 3Commercial Unit 4
Commercial Unit 6
Commercial Unit 4
Commercial Unit 6
Pro Forma Cash Flow Analysis
LEVERAGED ROI:
0
Less Operating Expenses:
Residential Gross Rental Income
Less Operating Expenses:
Operating Expense Reimbursements (NNN)Commercial Unit 1Commercial Unit 2Commercial Unit 3
Commercial Base RentCommercial Unit 1Commercial Unit 2
Top Floor Premium
Commercial Unit 5
Commercial Unit 5
BUILDING VALUE (SALE):
Information contained herein is from sources believed to be reliable. However, Cushman & Wakefield does not warrant or guarantee that the information is accurate and advises investors to perform their independent analysis of the property. Investors are stongly encouraged to seek appropriate tax and legal counsel.
PERMANENT DEBT SERVICE:
BEFORE TAX CASH FLOW:CASH FLOW + PRINCIPAL EQUITY GAIN:
CASH ON CASH ROI:
Information contained herein is from sources believed to be reliable. However, Cushman & Wakefield does not warrant or guarantee that the information is accurate and advises investors to perform their independent analysis of the property. Investors are strongly encouraged to seek appropriate tax and legal counsel.
Northern ColoradoNorthern Colorado is generally described as being along the I-25 corridor, north of Highway 119, continuing north to the Wyoming border. The two counties that make up the area are Larimer and Weld. There are over thirty communities — most of which are incorporated — in this area, but the largest are Fort Collins, Loveland, Windsor and Greeley. The combination of these coun-ties produces an impressive market area with a population of almost 600,000 and total private non-farm employment of over 180,000.
HEALTHCAREThere are many world class healthcare facilities within close proximity to Heron Lakes:
• Poudre Valley Health, Fort Collins
• McKee Medical Center, Loveland
• Medical Center of the Rockies, Loveland
• Northern Colorado Medical Center, Greeley
• Longs Peak Hospital, Longmont
ECONOMYThe economy of the area is strong, having reached and surpassed pre-recession employment levels. Diversity is the hallmark of the economy. No one sector exceeds 15% of the work force. The univer-sities provide a strong anchor and are supported by the oil and gas industry, technology, aerospace, and the largest concentration of microbreweries in the United States.
COLORADO STATE UNIVERSITY6,948 employees
HEWLETT PACKARD3,182 employees
POUDRE VALLEY HEALTH3,020 employees
POUDRE SCHOOL DISTRICT 3,014 employees
AGILENT2,800 employees
CITY OF FORT COLLINS1,864 employees
EASTMAN KODAK 1,700 employees
WOODWARD INC.1,475 employees
LARIMER COUNTY1,467 employees
AVAGO TECHNOLOGIES 1,200 employees
COLUMBINE HEALTH SYSTEMS1,200 Employees
Top Regional Employers
AIRPORTSNorthern Colorado Regional Airport (formerly the Fort Collins-Loveland Municipal Airport) is an FAA certi-fied general aviation airport located on the high plains along the Interstate 25 corridor approximately 55 miles north of Denver. The airport currently has limited commercial service and serves unscheduled commer-cial, corporate and general aviation needs, and has access to many convenient nearby accommodations and access to the area’s many recreational amenities, including Rocky Mountain National Park.
Denver International Airport is a 50 minute drive from Berthoud. It is the largest airport in the U.S. with a land size greater than New York City. DIA has 6 runways and is the world’s 18th busiest airport, and the 6th busiest in the U.S. DIA was voted Best Airport in North America by Business Traveler Magazine six years in a row (2005–2010) and was named “America’s Best Run Airport” by Time Magazine. The RTD A Line commuter rail from Denver recently opened, greatly expanding access from Denver and the metro area.
Northern ColoradoEDUCATIONNorthern Colorado has several four year state universities: Colorado State University in Fort Collins with an enrollment of over 32,000 students, the University of Colorado in Boulder with an enrollment of 32,775 students, and the University of Northern Colorado in Greeley, which has an enrollment of over 21,000 students.
7th Place Larimer County Ranking for Best Places for Business and Careers (Forbes Magazine, 2013)
3rd Place Larimer County Ranking for Best Places to do Business (Forbes Magazine, 2012)
2nd Place Best Place for Job Seekers in Colo-rado (NerdWallet)
2nd Place Top 10 Metro Areas for High Tech Startup (Kaufmann Foundation)
3rd Place Highest Well-Being for Mid-Size City in US (Gallup-Healthways Survey, 2013)
3rd Place Healthiest Mid-Size City in US (Gallup-Healthways Survey, 2013)
Editor’s Choice Best Towns in America (Outside Magazine, 2013)
Fort Collins is One of the Top 10 Best Places to Retire (CBS Money Watch, 2012)
Fort Collins is the Largest Beer Producer in Colorado and the state is ranked first in the country in volume produced by breweries (visitftcollins.com)
Media AccoladesOUTDOOR ACTIVITIESAbundant open space, parks, and trails provide ample opportunity to enjoy the Colorado lifestyle. Whether you prefer fishing on the adjacent reservoirs, biking the miles of local trails, or hiking in nearby Rocky Mountain National Park, it will be clear to see why Northern Colorado is consistently ranked in the Top Places to Live in the country.
Top 10 Healthiest Cities in the U.S. Livability.com, 2016
Majestic mountains and crystal clear lakes surround Fort Collins, Colorado, creating ideal conditions for outdoor lovers or just about anyone looking for an excuse to get some exercise. The city’s amazing recreational opportunities, highly active residents, low health-care costs and strong social support services make Fort Collins one of the Top 10 Healthiest Cities in the country.
What’s impressive is that despite numerous temptations to overindulge, from numerous craft breweries to a fantastic collection of restaurants, fewer than 19 percent of residents in Fort Collins and surrounding Larimer County are considered obese. More than 80 percent engage in overall healthy lifestyles, exercise on a regular basis, and only about 15 percent of the population smokes.
On top of magnificent areas to kayak, hike, and hike, fitness centers in Fort Collins provide various ways to burn calories and stay in shape. Throughout the year, five farmers markets in and around Fort Collins give people access to fresh, locally grown fruits and vegetables, as well as beef and other meats. Despite the absence of wide network of bike lanes and walking paths, Fort Collins is surrounded by natural areas with hiking trails, and many residents get to work or run errands on foot. The presence of Colorado State University brings many opportunities for social and cultural engagement. Downtown Fort Collins, one of the 2012 Best Downtowns, attracts many walkers who enjoy window shopping on their way to grabbing a bite to eat.
Fort Collins #13
Top 100 Best Places to Live in the U.S. Livability.com, 2016
From its thriving microbreweries to its mountain views and hiking trails, Fort Collins has an enticing assortment of amenities that draw talented workers to the high-tech companies located here. Those companies include Hewlett Packard, Intel and National Semiconductor. Colorado State University plays a major part in the city’s economy and entertainment scene, while schools in Fort Collins rank high. It’s been picked as one of the Healthiest Cities. Taking into account the city’s strong health-care options, diverse range of homes and recreational options, it’s easy to see why Fort Collins is one of the Top 100 Best Place to Live.
Fort Collins #4 Mid-Size Cities
Well-Being Rankings and Access to Care in the U.S. Gallup/Healthways, 2015
Fort Collins #10
Best Places For Business And Career Forbes 2015
Fueled by a diverse economy and an educated labor supply, Fort Collins, Colorado, remains in the Forbes annual look at the metros with the best business climates.
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms in the world with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global occupier services, investment management (branded DTZ Investors), tenant representation and valuations & advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Multi-family Snapshot Q4 2016Northern Colorado
MARKETBEAT
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
0
10
20
30
40
50
60
70
80
$0.0
$20,000.0
$40,000.0
$60,000.0
$80,000.0
$100,000.0
$120,000.0
$140,000.0
2012 2013 2014 2015 2016
Number of Sales & Average Unit Price
Average of Unit Price Number of Sales
Overall Sales Northern Colorado Overall Number of Sales and Average Unit Price
Top Sales By City
Fort Collins
Built Sold Units Price $/Unit
The Grove Apartments 2013 3/2/216 218 $80,253,871.00 $368,137.00
About Cushman & WakefieldCushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms in the world with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facilities services (branded C&W Services), global occupier services, investment management (branded DTZ Investors), tenant representation and valuations & advisory. To learn more, visit www.cushmanwakefield.com or follow @Cushwake on Twitter.
The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Multi-family Snapshot Q4 2016Northern Colorado
MARKETBEAT
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
$0
$100
$200
$300
$400
$500
$600
$700
$800
Fort Collins Greeley Loveland
Sales by City
2016
2015
2014
2013
2012
0
10
20
30
40
50
60
70
80
$0.0
$20,000.0
$40,000.0
$60,000.0
$80,000.0
$100,000.0
$120,000.0
$140,000.0
2012 2013 2014 2015 2016
Number of Sales & Average Unit Price
Average of Unit Price Number of Sales
Overall Sales Northern Colorado Overall Number of Sales and Average Unit Price
Top Sales By City
Fort Collins
Built Sold Units Price $/Unit
The Grove Apartments 2013 3/2/216 218 $80,253,871.00 $368,137.00
In the spring of 2016, the Fort Collins Area Chamber of Commerce brought together a group of partners to assess the region’s workforce, identify key challenges, and develop a regional talent strategy. The group included the Cities of Fort Collins and Loveland, Larimer County Workforce Center, Larimer County Economic Development, the Loveland Chamber of Commerce, Northern Colorado Economic Alliance, and United Way of Larimer County. TIP Strategies, an economic and workforce development strategy consultancy, was hired to assist in the effort. The resulting workforce strategy—Talent 2.0—is an extension of a study commissioned by the City of Fort Collins in 2014, also conducted by TIP Strategies.
As part of the process, TIP conducted a series of roundtable discussions with more than 50 employers from a wide range of industries across the region. These discussions provided insights into the current challenges that employers in the Fort Collins-Loveland Metropolitan Statistical Area (MSA) are facing. It also provided mechanisms for validating the findings from the quantitative labor analysis. The findings from this research are summarized in the following three key challenges:
THE CHALLENGES
Over the last five years, the Fort Collins–Loveland economy added almost 20,000 jobs but only 11,000 workers. This imbalance, combined with low unemployment and high underemployment, has resulted in many employers having difficulty finding the talent they need.
FIGURE 1. TOTAL EMPLOYMENT FORT COLLINS – LOVELAND MSA, 2006-2015
FIGURE 2. CIVILIAN LABOR FORCE FORT COLLINS – LOVELAND MSA, 2006 - 2015
Source: EMSI 2016.2 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
Source: US Bureau of Labor Statistics via Moody's Analytics.
In the spring of 2016, the Fort Collins Area Chamber of Commerce brought together a group of partners to assess the region’s workforce, identify key challenges, and develop a regional talent strategy. The group included the Cities of Fort Collins and Loveland, Larimer County Workforce Center, Larimer County Economic Development, the Loveland Chamber of Commerce, Northern Colorado Economic Alliance, and United Way of Larimer County. TIP Strategies, an economic and workforce development strategy consultancy, was hired to assist in the effort. The resulting workforce strategy—Talent 2.0—is an extension of a study commissioned by the City of Fort Collins in 2014, also conducted by TIP Strategies.
As part of the process, TIP conducted a series of roundtable discussions with more than 50 employers from a wide range of industries across the region. These discussions provided insights into the current challenges that employers in the Fort Collins-Loveland Metropolitan Statistical Area (MSA) are facing. It also provided mechanisms for validating the findings from the quantitative labor analysis. The findings from this research are summarized in the following three key challenges:
THE CHALLENGES
Over the last five years, the Fort Collins–Loveland economy added almost 20,000 jobs but only 11,000 workers. This imbalance, combined with low unemployment and high underemployment, has resulted in many employers having difficulty finding the talent they need.
FIGURE 1. TOTAL EMPLOYMENT FORT COLLINS – LOVELAND MSA, 2006-2015
FIGURE 2. CIVILIAN LABOR FORCE FORT COLLINS – LOVELAND MSA, 2006 - 2015
Source: EMSI 2016.2 – QCEW Employees, Non-QCEW Employees, and Self-Employed.
Source: US Bureau of Labor Statistics via Moody's Analytics.
FIGURE 3. AVERAGE ANNUAL UNEMPLOYMENT RATE FORT COLLINS – LOVELAND MSA, 2006 - 2015
Source: US Bureau of Labor Statistics, Local Area Unemployment Statistics (state and local), Current Population Survey (national).
This finding is consistent with what employers reported in each roundtable discussion held as part of the strategic planning process. Employers report that they are increasing expectations of existing employees’ productivity, choosing not to grow, or expanding in other communities.
When employers were asked about their current workforce challenges, a number of common themes emerged:
Hiring difficulty and retention challenges cut across skill and wage levels—from high-skilled professionals to low-wage service jobs. In high-skilled occupations, employers have trouble attracting C-level executives, young professionals, racially/ethnically diverse talent, and talent from the Denver metro area as well as the coasts. The perception that the Fort Collins-Loveland employment base lacks diversity and depth contributes to the challenge attracting skilled talent from larger markets. In addition, the difficulty finding employment for trailing spouses or partners also serves as a barrier.
For middle skills and low-skilled jobs, employers reported having difficulty finding workers to fill jobs with high physical requirements such as warehousing,
0
2
4
6
8
10
12
2006
2008
2010
2012
2014
AN
NU
AL
AV
ERA
GE
RA
TE
MSA Colorado United States
FIGURE 4. UNDEREMPLOYMENT: JOBS VS LABOR FORCE, FORT COLLINS-LOVELAND MSA EDUCATIONAL REQUIREMENTS AND ATTAINMENT
These challenges, however, are not necessarily unique to this region. In the most recent survey by Manpower, 46 percent of US employers report that they are having difficulty finding the talent they need. In particular, the top 10 occupations that employers have difficulty filling are listed in Figure 10.
In addition, the uptick of retirements is a national trend. However, the Fort Collins-Loveland region’s reputation as a retirement destination likely amplifies the challenge. The Colorado State Demography Office projects that the region’s senior population will increase by over 26 percent over the next five years while the working age population will increase by only 7 percent.
In summary, the continued strength of the regional economy, accompanied by a wave of retirements and a labor force that is not keeping pace with this demand has created a difficult hiring environment for local employers. The fact that these trends are mirrored at the national—and sometimes global—level further complicates the situation. As a result, employers in the Fort Collins-Loveland MSA are currently having difficulty accessing the talent they need, and this difficulty is likely to increase with the further tightening of the labor market over the near term.
0%
10%
20%
30%
40%
50%
60%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
US Global
FIGURE 11. POPULATION PROJECTIONS FORT COLLINS-LOVELAND MSA, RESIDENTS 16+, YEAR-OVER-YEAR CHANGE (#)
FIGURE 12. POPULATION TRENDS, MSA ANNUAL ESTIMATES JULY 1 OF EACH YEAR
Over the last 10 years, the Fort Collins-Loveland MSA has grown from 275,100 to 333,600. By 2020, the State Demography Office projects that the population will surpass 360,000.
Source: US Census Bureau, Population Estimates program. Projections from Colorado State Demography Office.
FIGURE 13. POPULATION TRENDS, MSA GROWTH SINCE 2005
Between 2005 and 2015, the Fort Collins-Loveland MSA grew 21 percent. At the same time, the State of Colorado increased 18 percent and the US increased 9 percent. Only the laborshed, which includes Weld County, grew faster than the MSA. It grew 24 percent over the ten-year period.
Source: US Census Bureau, Population Estimates program. Note: via Moody's Analytics.
FIGURE 14. POPULATION PROJECTIONS, MSA RESIDENTS 16+, YEAR-OVER-YEAR CHANGE (#)
The Colorado State Demography Office projects that the working age population will increase by almost 7 percent over the next five years, adding about 3,000 residents each year. By comparison, the senior population is expected to increase by over 26 percent, adding about 2,000 residents each year.
FIGURE 12. POPULATION TRENDS, MSA ANNUAL ESTIMATES JULY 1 OF EACH YEAR
Over the last 10 years, the Fort Collins-Loveland MSA has grown from 275,100 to 333,600. By 2020, the State Demography Office projects that the population will surpass 360,000.
Source: US Census Bureau, Population Estimates program. Projections from Colorado State Demography Office.
FIGURE 13. POPULATION TRENDS, MSA GROWTH SINCE 2005
Between 2005 and 2015, the Fort Collins-Loveland MSA grew 21 percent. At the same time, the State of Colorado increased 18 percent and the US increased 9 percent. Only the laborshed, which includes Weld County, grew faster than the MSA. It grew 24 percent over the ten-year period.
Source: US Census Bureau, Population Estimates program. Note: via Moody's Analytics.
FIGURE 14. POPULATION PROJECTIONS, MSA RESIDENTS 16+, YEAR-OVER-YEAR CHANGE (#)
The Colorado State Demography Office projects that the working age population will increase by almost 7 percent over the next five years, adding about 3,000 residents each year. By comparison, the senior population is expected to increase by over 26 percent, adding about 2,000 residents each year.
FIGURE 12. POPULATION TRENDS, MSA ANNUAL ESTIMATES JULY 1 OF EACH YEAR
Over the last 10 years, the Fort Collins-Loveland MSA has grown from 275,100 to 333,600. By 2020, the State Demography Office projects that the population will surpass 360,000.
Source: US Census Bureau, Population Estimates program. Projections from Colorado State Demography Office.
FIGURE 13. POPULATION TRENDS, MSA GROWTH SINCE 2005
Between 2005 and 2015, the Fort Collins-Loveland MSA grew 21 percent. At the same time, the State of Colorado increased 18 percent and the US increased 9 percent. Only the laborshed, which includes Weld County, grew faster than the MSA. It grew 24 percent over the ten-year period.
Source: US Census Bureau, Population Estimates program. Note: via Moody's Analytics.
FIGURE 14. POPULATION PROJECTIONS, MSA RESIDENTS 16+, YEAR-OVER-YEAR CHANGE (#)
The Colorado State Demography Office projects that the working age population will increase by almost 7 percent over the next five years, adding about 3,000 residents each year. By comparison, the senior population is expected to increase by over 26 percent, adding about 2,000 residents each year.
FIGURE 12. POPULATION TRENDS, MSA ANNUAL ESTIMATES JULY 1 OF EACH YEAR
Over the last 10 years, the Fort Collins-Loveland MSA has grown from 275,100 to 333,600. By 2020, the State Demography Office projects that the population will surpass 360,000.
Source: US Census Bureau, Population Estimates program. Projections from Colorado State Demography Office.
FIGURE 13. POPULATION TRENDS, MSA GROWTH SINCE 2005
Between 2005 and 2015, the Fort Collins-Loveland MSA grew 21 percent. At the same time, the State of Colorado increased 18 percent and the US increased 9 percent. Only the laborshed, which includes Weld County, grew faster than the MSA. It grew 24 percent over the ten-year period.
Source: US Census Bureau, Population Estimates program. Note: via Moody's Analytics.
FIGURE 14. POPULATION PROJECTIONS, MSA RESIDENTS 16+, YEAR-OVER-YEAR CHANGE (#)
The Colorado State Demography Office projects that the working age population will increase by almost 7 percent over the next five years, adding about 3,000 residents each year. By comparison, the senior population is expected to increase by over 26 percent, adding about 2,000 residents each year.
With over 15 years of commercial real estate experience, Brian has focused his business on investment real estate, specializing in the brokerage of multi-housing properties in Northern Colorado and Southern Wyoming. Brian has enjoyed helping investors maximize their returns through improved operations and top of the market sales.
For 17 years Jared Goodman has successfully negotiated hundreds of sale transactions representing Buyers and Sellers in the Northern Colorado area. His deal experience is broad, his acumen and negotiation skills have provided significant savings and benefit for his clients. With a strong financial background, Jared is particularly adept negotiating complex agreements.
