REPORT GREELEY - Unique Properties · years in 2016 and 2017, four times the national average. In every other metro area in Colorado, population growth decelerated in 2017 compared

FULL-SERVICE COMMERCIAL REAL ESTATE SOLUTIONSPrivately-Owned and Operated for Over 40 Years

400 south broadway | denver, colorado 80209 | www.uniqueprop.com

OFFICEINDUSTRIAL RETAILMULTIFAMILY

MARKETREPORT

GREELEY

Q3|2019

MARKETREPORT

RETAIL MARKET REPORT

Market Key Statistics 2

Leasing 3

Rent 8

Construction 10

Under Construction Properties 11

Sales 13

Sales Past 12 Months 14

Economy 16

Market Submarkets 19

Supply & Demand Trends 21

Rent & Vacancy 24

Sale Trends 27

Greeley Retail

10/28/2019Copyrighted report licensed to Unique Properties, Inc. - 1010488.

OverviewGreeley Retail

201 K 263 K 2.8% 1.7%12 Mo Deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Rent Growth

The retail vacancy rate declined for a ninth straight yearin 2018, and has continued to trend downwards in 2019to-date, reaching new historic lows.

Greeley, which had the highest retail vacancy rate in theColorado Front Range as recently as 2013, now boaststhe lowest in the Front Range by roughly 100 basispoints.

Like virtually every metro, Greeley has endured a handfulof store closings from big-box retailers. But with someexceptions, these spaces are being re-leased quickly (orin some cases being repurposed for non-retail uses).

Encouragingly, several long-vacant larger blocks havefound tenants over the last year or two, playing anoutsized role in improved fundamentals.

A handful of smaller speculative developments areunderway, mostly on vacant lots at existing centers. Buton the whole, development remains limited, which hasbeen the case throughout this cycle. The rapidly growingsouthwestern extreme of Weld County, home to rapidlygrowing cities like Erie, Frederick, and Firestone,continues to be a destination for active smaller-scaleretail development.

KEY INDICATORS

Market RentVacancy RateRBACurrent Quarter Availability RateNet Absorption

SFDeliveries SF

UnderConstruction

$24.635.6%626,024Malls 5.6% 0 0 0

$20.367.3%1,432,209Power Center 0.8% 0 0 0

$17.362.5%2,579,300Neighborhood Center 3.4% (3,671) 0 20,911

$13.762.7%528,764Strip Center 3.9% 0 0 0

$12.081.6%6,733,624General Retail 4.8% 1,188 0 104,241

--0Other - 0 0 0

$14.942.8%11,899,921Market 4.0% (2,483) 0 125,152

ForecastAverage

HistoricalAverage

12 MonthAnnual Trends Peak When Trough When

1.9%6.0%-0.6%Vacancy Change (YOY) 9.7% 2010 Q2 2.7% 2019 Q3

159,229186,611263 KNet Absorption SF 473,956 2011 Q1 (70,797) 2009 Q2

140,442168,980201 KDeliveries SF 515,943 2006 Q4 10,201 2013 Q1

0.8%1.0%1.7%Rent Growth 2.8% 2017 Q4 -3.2% 2010 Q1

N/A$53.8M$46.7 MSales Volume $104.4M 2007 Q2 $10.6M 2009 Q3


Page 2

LeasingGreeley Retail

Across a host of key economic and demographic metricssuch as job, income, and population growth, Greeley isone of the top performers nationally. A rapidly growingworkforce should continue to benefit the retail sectormoving forward: Nonfarm payrolls in the metro havesoared by 4% annually on average over the past fiveyears (this includes a brief period of job losses followingthe 2015-2016 downturn in oil prices), and employmentgains are expected to continue to far outpace nationalgains over the forecast. Per capita incomes have jumpedby upwards of 4% annually over the past five years,roughly twice the national average.

Population growth is a key part of the retail demandequation in general, and Greeley has similarlyoutperformed here: Over the past five years, Greeley’spopulation has soared by an average of 2.8% per year,more than three times the national average. Moreover,population growth clocked in at 3.5% in back-to-backyears in 2016 and 2017, four times the national average.In every other metro area in Colorado, population growthdecelerated in 2017 compared to the prior year.Population growth again surpassed 3% in 2018.

E-commerce continues to pressure large block retailers,and a handful of large retailers have closed up shop inGreeley alongside national cutbacks. But as expandedupon in this section, large blocks are typically not stayingon the market for long in a market that has excellentdemographics and that is effectively at capacity. Nationalchains that have closed up shop include OfficeMax,which closed a 20,000 SF location at the Greeley

Commons shopping center in early 2016. SportsAuthority closed a 42,000 SF store in the Centerplace ofGreeley center in mid-2016. Sears closed a 87,000 SFshop and auto center in 2018 at the Greeley Mall. Thatspecific building at the mall was listed for sale around thestart of 2019.

In early 2017, Hobby Lobby signed a lease for the42,000 SF vacated by Sports Authority. This didrepresent a downsizing for Hobby Lobby, however: Uponthe opening of the new 42,000 SF location at theCenterplace of Greeley, the retailer closed a 52,000 SFstore located about a half-mile east of the new location.But in August 2018, a tenant that has yet to be disclosedsigned on for the entire space, taking what was themetro's second-largest block of space off the market.

A number of long-vacant spaces have found tenantsover the last two years, helping drive the availability ratebelow 5% by year-end 2017, where it has essentiallyheld since. In late 2015, At Home signed on for nearly100,000 SF at the Greeley Mall, taking a space that hadbeen vacant since a Dillards closed up shop all the wayback in 2008. In mid-2016, Vasa Fitness purchased andhas since renovated and occupied 2325 23rd Ave. inGreeley, a 41,000 SF building that had been vacant forabout four years.

Consistent with a trend playing out nationally, many ofthe largest recent leases have stemmed from gyms ordiscounters.


Page 3


NET ABSORPTION, NET DELIVERIES & VACANCY

VACANCY RATE


Page 4


AVAILABILITY RATE


Page 5


12 MONTH NET ABSORPTION SF IN SELECTED BUILDINGS

3rd QtrBuilding Name/Address Submarket Bldg SF Vacant SF

1st Qtr 2nd Qtr 4th Qtr 12 Month

Net Absorption SF

Greeley Ret 166,453 0 0 79,013 0 0 79,0132400 W 29th St

Greeley Ret 150,000 100,000 147,400 (97,400) 0 0 50,000Firestone City Centre (1)

Greeley Ret 87,897 0 0 0 0 0 35,8563001 S 23rd Ave

Greeley Ret 20,000 0 0 20,000 0 0 20,000Allnutt Funeral Services

Greeley Ret 31,434 0 0 19,394 0 0 19,394Windsor Tower Center

Greeley Ret 23,590 0 0 0 0 0 16,410Power Equipment Co.

Greeley Ret 17,296 0 0 14,865 0 0 14,865Industrial Complex

Greeley Ret 72,601 0 34,455 0 0 0 10,486Greeley Marketplace

Greeley Ret 7,300 0 7,300 0 0 0 7,300Hillside Shopping Center

Greeley Ret 503,845 35,185 0 (3,842) 7,760 0 6,443Greeley Mall

Greeley Ret 11,151 0 (3,421) (1,975) 11,151 0 5,7551042 Denver Ave

Greeley Ret 7,974 0 0 0 3,086 0 5,643Firestone City Centre (2)

Greeley Ret 9,000 1,140 (1,140) 0 0 0 5,120East Pointe Plaza

Greeley Ret 5,000 0 5,000 0 0 0 5,0001440 Skyway Dr

Greeley Ret 8,738 0 3,720 0 0 0 3,720Market Square

Greeley Ret 3,525 0 0 3,525 0 0 3,525182 Lincoln Ave

Greeley Ret 3,500 0 0 3,500 0 0 3,500Popeyes

1,129,304 136,325 193,314 37,080 21,997 0 292,030Subtotal Primary Competitors

10,770,617 192,520 (2,177) (22,448) 8,111 (2,483) (28,873)Remaining Greeley Market

11,899,921 328,845 191,137 14,632 30,108 (2,483) 263,157Total Greeley Market


Page 6


TOP RETAIL LEASES PAST 12 MONTHS

Building Name/Address Submarket Leased SF Tenant Name Tenant Rep Company Leasing Rep CompanyQtr

Firestone City Centre Greeley 100,000 - - The Staenberg GroupQ3 19

Windsor Tower Center Greeley 19,394 Foundations Church, Inc LC Real Estate Grou… Cushman & WakefieldQ1 19

Greeley Marketplace Greeley 10,800 - - GK Development, Inc.Q1 19


2435 8th Ave Greeley 4,900 Apex Collision Center LLC - RE/MAX Commercial A…Q1 19

South Center Plaza Greeley 4,130 Dudley's Discount Liquor - RE/MAX Commercial A…Q4 18

University Square Greeley 3,600 - - SullivanHayes BrokerageQ4 18

Greeley Mall Greeley 3,583 - - Moonbeam Leasing an…Q2 19

The Plantation Greeley 3,530 - - Red Rock Commercial…Q3 19

Highway 34 Retail Greeley 3,450 - - Wheeler Properties, IncQ4 18

Greeley Mall Greeley 3,215 - - Moonbeam Leasing an…Q2 19

Market Square Greeley 2,580 - - Emerald Real Estate G…Q1 19

Greeley Mall Greeley 2,511 Dance Studio: Inspire - Moonbeam Leasing an…Q3 19

3110 67th Avenue Pl Greeley 2,500 Clearwater Dentistry - Wheeler Properties, IncQ2 19


940 9th Ave Greeley 2,470 Points West Community B… - RE/MAX Commercial A…Q1 19


Firestone City Centre Greeley 2,053 Verizon Wireless - The Staenberg GroupQ4 18

University Square Greeley 2,048 - - SullivanHayes BrokerageQ4 18

Westlake Village Shopping Center * Greeley 2,000 Mail N Copy - -Q4 18

Hillcrest Shopping Center Greeley 1,950 - - Wheeler Properties, IncQ3 19

Centerplace of Greeley Greeley 1,805 - - David, Hicks & Lampert…Q1 19

905 16th St Greeley 1,805 Hog Wild Barbeque, Inc. - Cushman & WakefieldQ4 19

900-920 9th Ave Greeley 1,800 - - Jessie JacobsQ2 19

Erie Commons Greeley 1,700 Boulder Medical Center Richard D. Duryea I… Richard D. Duryea Inc.Q2 19

Firestone City Centre Greeley 1,623 Patio Splash - The Staenberg GroupQ4 18

NorthGate Village Greeley 1,600 Tri-City Pizza, Inc - Cushman & WakefieldQ4 19


Water Valley Village Greeley 1,564 Dickey's Barbecue Pit - Cushman & WakefieldQ3 19



University Square Greeley 1,435 GNC - -Q4 18


Windsor Town Center II Greeley 1,350 Joseph & Amanda Fuentz SVN l Denver Com… SVN l Denver Commer…Q3 19

Westmoor Plaza II Greeley 1,336 RN Medispa - Realtec Commercial R…Q2 19


NorthGate Village Greeley 1,300 R&R Corporation - Cushman & WakefieldQ2 19


11052 Cimarron St Weld County 1,240 - - Elevate Commercial Re…Q4 18

11052 Cimarron St Weld County 1,240 - - Elevate Commercial Re…Q4 18

*Renewal


Page 7

RentGreeley Retail

Strong fundamentals and solid demand drivers havetranslated into respectable, but not truly outsized rentgains this cycle. Rents have fallen off of peak growthrates, but have held above the national average since2018. Given how tight the market is, owners of well-located space should be in a good position when spacehits the market.

Greeley houses the cheapest retail space in theColorado Front Range: At about $15/SF triple-net, rentson average are priced at a 35% discount to Denver anda 15% discount to Colorado Springs, the next-cheapestFront Range metro.

MARKET RENT GROWTH (YOY)


Page 8

RentGreeley Retail

MARKET RENT PER SQUARE FOOT


Page 9

ConstructionGreeley Retail

Most projects constructed this cycle or now underwayhave been smaller built-to-suits. A handful ofspeculative projects are underway, mostly on smaller lotsat existing centers. Several slightly larger projects havebroken ground in 2019, concentrated in Weld County'sbooming southwest. Roughly 10,000 SF spread betweenseveral lots is underway at the Firestone City Centerdevelopment. Firestone was the third-fastest growingcity in Colorado according to the most recent censusdata, and this city may be primed for additional retaildevelopment over the forecast.

One 9,000-SF building underway is the first of fourproposed buildings at a new neighborhood center calledEast Pointe Plaza. The new center is located on an 11-

acre site, southeast of the Colo. 392 and Colo. 257intersection in Windsor.

Grocers have generally driven the handful of largersupply additions this cycle, including a 125,000-SF KingSooper's that opened in Erie in 2016. The city of Erieagreed to purchase a 30-acre site for $3 million tosweeten the deal for Dillon Companies, the parentcompany of King Sooper's. The store, which is roughlydouble the size of a standard King Soopers and servesas the anchor tenant for the Village Vista neighborhoodcenter, features additional items such as clothing andhome goods. One-hour grocery delivery is offeredthrough Instacart.

DELIVERIES & DEMOLITIONS

SUBMARKET CONSTRUCTION

Average Building Size

RankUnder Constr

Under Construction Inventory

All ExistingSF (000) Pre-Leased SF (000)SubmarketNo. RankBldgs Pre-Leased %

1 Greeley 8 125 15,64463.9% 1 10,27380 1

Totals 8 125 15,64463.9% 10,27380


Page 10

Under Construction PropertiesGreeley Retail

8 125,152 1.1% 63.9%Properties Square Feet Percent of Inventory Preleased

UNDER CONSTRUCTION PROPERTIES

UNDER CONSTRUCTION

Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner

Jan-20195900 Gateway Ct

45,000 1 Jan-2021-

-1

Feb-20194239 Centerplace Dr

25,000 2 Nov-2019-

-2

Apr-20191224 Automation Dr

Windsor Commons Retai…13,311 1 Jan-2020

-

Commercial Brokers Alliance NO…3

Jun-2019Erie Pky & County Line Rd

Coal Creek Center11,991 1 Mar-2020

Lone Star Partners

Irwin & Hendrick-East, LLC4

Jul-2019615 Briggs St

615 Briggs10,134 2 Dec-2019

-

Victoria Meyer5

Mar-20196130 Firestone Blvd

7,600 1 Nov-2019-

-6

Jun-2019Jake Jabs Blvd & City Cen

6,116 1 Jan-2020-

-7


Page 11

http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=PPW&redirUrl=%2Fredir%2Fdefault.aspx%3Feid%3D11124403%26ProductMode%3DProperty%26external%3D1







Under Construction PropertiesGreeley Retail

UNDER CONSTRUCTION

Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner

May-20182802 Ridgeview Cir

Taco Bell6,000 1 Nov-2019

-

Taco Bell (US)8


Page 12


SalesGreeley Retail

Greeley's retail market saw an inventory turnover ofabout 5% for a third straight year in 2018.

The largest single-asset trade in 2018 was the August2018 sale of a 22,600 SF strip portion of a neighborhoodcenter anchored by Safeway for $5 million (the sale didnot include the anchor space occupied by Safeway). Thisportion of the center had been acquired by Aurora, CO-based Western Centers for $2.4 million in 2010 prior tothe more recent sale.

For investors targeting growth potential, Firestone, and ingeneral the far southwestern portion of Weld County is acompelling location. Over the past five years, thepopulations of three cities located in this area, Frederick,Firestone and Erie, increased by 32%, 24%, and 22%,respectively. Residential and increasingly mixed-usedevelopment has reached historic levels in this part ofthe metro over the last several years. The amount ofopen land, coupled with proximity to the Boulder andDenver metros leaves plenty of room for additionalgrowth in the longer run.

Investment was on track to come in at a five year lowthrough the first three quarters of 2017, but dealmakingpicked up speed in 17Q4. In October 2017, San Diego,CA-based Christopher Weil & Company acquired the

three-building 37,200 SF Centennial Commons centerfor $5.5 million ($147/SF) at a 6.5% cap rate. A brokeron the deal noted substantial out-of-state interest and acorrespondingly competitive bidding environment,spurred by the center's national anchor tenant (O'ReillyAuto Parts) and a lack of competing properties in themarket.

Private investors have driven the bulk of investmentvolume this cycle, including a private Denver-basedbuyer’s April 2017 acquisition of 4650 Centerplace Drive.The 6,600 SF building is part of the 575,000 CenterplaceGreeley power center and was fully occupied by twotenants (Noodles & Co and Verizon Wireless) on long-term triple-net leases at the time of the sale. Thebuilding traded for $4 million (just over $600/SF) at a6.2% cap rate.

Only about 10 retail properties have ever traded at sub-6% cap rates in the metro, and all but one of thosetrades occurred after 2014. In 2015, a 15,000 SFfreestanding Walgreens at 3700 W. 10th St. traded at a5.5% cap rate ($484/SF). The same Walgreens traded ata 6.9% cap rate in 2007, around the peak of the previouscycle. At the time of both sales, Walgreens was signed toa triple-net lease with at least 20 years remaining.

SALES VOLUME & MARKET SALE PRICE PER SF


Page 13

Sales Past 12 MonthsGreeley Retail

58 6.5% $221 0.4%Sale Comparables Avg. Cap Rate Avg. Price/SF Avg. Vacancy At Sale

SALE COMPARABLE LOCATIONS

SALE COMPARABLES SUMMARY STATISTICS

Sales Attributes Low Average Median High

Sale Price $118,200 $956,817 $625,000 $5,500,000

Price Per SF $25 $221 $171 $982

Cap Rate 5.3% 6.5% 6.9% 7.5%

Time Since Sale in Months 0.6 6.3 7.0 11.9

Property Attributes Low Average Median High

Building SF 684 5,366 3,548 42,610

Stories 1 1 1 3

Typical Floor SF 684 5,278 3,319 42,610

Vacancy Rate At Sale 0% 0.4% 0% 100%

Year Built 1890 1973 1977 2018

Star Rating 2.1


Page 14

Sales Past 12 MonthsGreeley Retail

Property Name - Address Rating Yr Built Bldg SF Vacancy Price Price/SF

Property

Sale Date

Sale

Cap Rate

RECENT SIGNIFICANT SALES

-1 375 E Main St2018 5,600 0% $5,500,000 $9829/30/2019 6.0%

-2 Wendy's2003 3,599 0% $3,400,000 $945

4644 Centerplace Dr10/10/2019 -

-3 4330 Centerplace Dr2004 9,800 0% $3,150,000 $32111/13/2018 7.2%

-4 4555 Circle Centre Rd2018 4,935 0% $2,725,000 $5522/28/2019 5.3%

-5 Arby's2017 2,737 0% $2,203,800 $805

4413 Centerplace Dr12/5/2018 -

-6 4421 Centerplace Dr2016 4,373 0% $2,125,000 $4865/22/2019 6.7%

-7 1100 Broad St1987 3,270 0% $1,950,000 $5963/1/2019 5.3%

-8 Family Dollar2014 8,300 0% $1,833,000 $221

130 22nd St8/2/2019 6.2%

-9 Gateway Plaza2004 7,878 0% $1,600,000 $203

4637 W 29th St4/19/2019 7.3%

-10 Burger King2009 3,548 0% $1,575,000 $444

4485 City Centre Dr7/12/2019 5.4%

-11 Mobile Express Lube1997 2,286 0% $1,250,000 $547

2470 35th Ave Ct3/21/2019 7.5%

-12 Dollar General1948 9,800 0% $1,135,000 $116

1412 8th Ave12/12/2018 7.0%

-13 508 8th Ave1950 14,732 0% $1,106,584 $7511/9/2018 -

-14 The Goddard School- 7,530 0% $1,094,224 $145

3000 Village Vista Dr9/19/2019 -

-15 2886 County Road 412007 2,816 0% $1,000,000 $35510/30/2018 -

-16 245 Market St- 4,898 0% $850,000 $17412/6/2018 -

-17 2520 8th Ave1984 1,705 0% $803,500 $4711/9/2019 7.0%

-18 640 14th St1978 3,653 0% $800,000 $2193/29/2019 -

-19 Erie Commons- Building B2008 1,150 0% $762,750 $663

149 S Briggs St12/21/2018 -

-20 42942 County Road 37- 4,081 0% $750,000 $1846/3/2019 -


Page 15

http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=PPW&redirUrl=%2Fredir%2Fdefault.aspx%3Feid%3D11098014%26ProductMode%3DProperty%26SelectedTab%3Dsale%26external%3D1




















EconomyGreeley Retail

With oil prices broadly improved since late-2017 (evenafter some turbulence during the final quarter of 2018),Greeley's economy has fully returned to outsized growth.Employment rose by more than 4% on average in 2017and 2018, following actual job losses during parts of2015 and 2016. Employment continued to post solidgains during the first half of 2019.

After peaking at just over 9,000 jobs by year-end 2014,employment in the natural resources and mining sectorplummeted to just over 5,000 jobs by year-end 2016,and has only closed some of that gap since.Construction jobs took a hit as well, falling from a peak ofjust over 10,000 jobs as of year-end 2014, to about9,000 jobs at the start of 2016. This sector has picked upsteam, and by early 2018, construction jobs had justsurpassed the late-2014 peak.

Even after the drop in natural resources and miningemployment, nearly 6% of current non-farm jobs in themetro are in that sector, representing the second-highest concentration of such jobs out of the 200 largestmetro areas. Four of the 10 largest employers in themetro, Halliburton Energy Services, Noble Energy,Anadarko Petroleum, and Select Energy Services (allbased out of Houston, Texas), are oil and gasexploration and production companies.

Recent economic and demographic trends are alsoencouraging, and point to how the make-up of the metrohas dramatically changed this cycle. Over the last fiveyears, the metro’s population soared by nearly 14% (an

increase of about 36,000 people), the fastest growth inthe Front Range, and more than three times the nationalaverage. Moreover, Greeley was the only Colorado FrontRange metro that did not experience a population growthdeceleration in 2017, according to population datareleased in September 2018. Instead, the metro'spopulation grew by 3.5% for a second consecutive year,matching a 15-year high.

Meanwhile, population growth in the neighboring Bouldermetro (and to a lesser extent, Metro Denver) slowed fora second straight year. In Boulder, the population grewby just 0.4% in 2017, down from 1.0% in 2016 and 1.7%in 2015.

Much of the explosive growth in the Greeley metro isoccurring in far southwest Weld County, near Longmont,,and easily within commuting distance to central Boulder.Cities here such as Erie, Firestone, and Frederick eachsaw cumulative population growth of 22% or more overthe past five years, and residential development isexploding. The Southwest Weld County apartmentsubmarket illustrates the dramatic growth here: Themarket-rate apartment stock is slated to climb from lessthan 150 units at the start of 2016, to 1,500 units byyear-end 2019, with many of the smaller cities here nowseeing their first-ever large apartment developments.

In terms of driving distance, Weld County's far southwestis about 25 miles from Downtown Denver, 15 miles fromDowntown Boulder, and 40 miles from DowntownGreeley.


Page 16


GREELEY EMPLOYMENT BY INDUSTRY IN THOUSANDS

NAICS Industry Jobs LQ MarketUS USMarketUSMarket

Current Jobs Current Growth 10 Yr Historical 5 Yr Forecast

-0.21%0.59%1.06%3.02%1.07%2.93%1.514Manufacturing

0.36%1.66%1.23%3.95%0.56%3.16%0.920Trade, Transportation and Utilities

0.26%1.49%0.88%3.68%-0.33%2.82%0.911 Retail Trade

0.34%0.80%1.13%-0.07%1.21%-0.66%0.74Financial Activities

0.66%1.37%0.04%1.66%0.51%2.28%1.118Government

0.33%1.13%2.50%8.64%2.40%1.98%3.321Natural Resources, Mining and Construction

0.66%0.32%2.14%2.54%2.41%2.64%0.610Education and Health Services

0.93%1.53%2.72%5.25%2.06%1.92%0.711Professional and Business Services

0.50%0.41%0.23%-3.26%0.13%1.21%0.31Information

0.65%1.94%2.54%3.81%2.06%0.62%0.810Leisure and Hospitality

0.26%1.61%1.07%3.17%1.58%6.87%0.94Other Services

Total Employment 113 1.0 2.34% 1.44% 3.76% 1.53% 1.23% 0.52%

Source: Oxford Economics

LQ = Location Quotient


YEAR OVER YEAR JOB GROWTH


Page 17


DEMOGRAPHIC TRENDS

Current ChangeCurrent Level

Metro U.S.Metro U.S.Demographic Category

10-Year Change

Metro U.S. Metro U.S.

Forecast Change (5 Yrs)

Population 329,689,375320,984 1.9% 0.7% 2.6% 0.7% 1.8% 0.7%

Households 121,374,891109,689 1.8% 0.5% 2.5% 0.6% 1.7% 0.6%

Median Household Income $65,293$74,370 4.5% 4.2% 3.0% 2.6% 4.1% 4.2%

Labor Force 163,676,484169,305 1.2% 0.8% 3.4% 0.6% 1.4% 0.5%

Unemployment 3.7%2.9% -0.3% -0.1% -0.6% -0.6% - -


POPULATION GROWTH


LABOR FORCE GROWTH INCOME GROWTH


Page 18

SubmarketsGreeley Retail

GREELEY SUBMARKETS


Page 19

SubmarketsGreeley Retail

SUBMARKET INVENTORY

12 Month Deliveries Under Construction

Bldgs SF (000) Percent Rank

Inventory

Bldgs SF (000) Percent RankBldgs SF (000) % Market RankSubmarketNo.

1 Greeley 11,906 100% 1 8 125 1.1% 11,159 7 206 1.7% 1

SUBMARKET RENT

Growth

Market Rent

Per SFSubmarketNo.

12 Month Market Rent QTD Annualized Market Rent

RankRank GrowthRank

1 Greeley -1.4%1 1.7% 1$14.94 1

SUBMARKET VACANCY & NET ABSORPTION

12 Month Net Absorption

Rank Construct. Ratio

Vacancy

SF % of InvSF PercentSubmarketNo. Rank

1 Greeley 328,845 2.8% 0.7267,612 2.2% 11


Page 20

http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=CMA&redirUrl=%2F%23%2Fsearch%2Fdetail%2Fsubmarket%2Ftype%2F0%2Fproperty%2F6%2Fgeography%2F28449%3Fnested%3Dfalse



Supply & Demand TrendsGreeley Retail

OVERALL SUPPLY & DEMAND

Net AbsorptionInventory

% of Inv Construction RatioSF SF Growth % Growth SFYear

2023 149,595 1.2% 1.3%159,866 0.912,437,595

2022 137,144 1.1% 1.2%149,620 0.912,288,000

2021 157,918 1.3% 1.2%143,241 1.112,150,856

2020 54,417 0.5% 0.8%95,242 0.611,992,938

2019 217,100 1.9% 2.9%343,800 0.611,938,521

YTD 178,500 1.5% 2.0%233,394 0.811,899,921

2018 87,098 0.7% 1.1%126,179 0.711,721,421

2017 95,054 0.8% 1.0%118,010 0.811,634,323

2016 139,318 1.2% 1.6%180,318 0.811,539,269

2015 47,165 0.4% 1.0%116,993 0.411,399,951

2014 80,582 0.7% 1.4%159,205 0.511,352,786

2013 56,916 0.5% 2.5%282,043 0.211,272,204

2012 52,311 0.5% 0.8%84,805 0.611,215,288

2011 351,146 3.2% 3.9%433,645 0.811,162,977

2010 26,942 0.2% 0.6%67,559 0.410,811,831

2009 192,126 1.8% 0.7%80,861 2.410,784,889

2008 458,934 4.5% 0.8%89,429 5.110,592,763

2007 266,026 2.7% 4.4%445,504 0.610,133,829

MALLS SUPPLY & DEMAND



2023 0 0% 0.3%1,980 0626,024

2022 0 0% 0.5%2,843 0626,024

2021 0 0% 0.5%3,275 0626,024

2020 0 0% 0.4%2,422 0626,024

2019 0 0% 0.5%3,066 0626,024

YTD 0 0% 0.6%3,918 0626,024

2018 0 0% -1.2%(7,315) -626,024

2017 0 0% 1.5%9,424 0626,024

2016 0 0% -6.6%(41,212) -626,024

2015 0 0% -- -626,024

2014 0 0% -- -626,024

2013 0 0% -- -626,024

2012 0 0% -- -626,024

2011 0 0% -- -626,024

2010 0 0% -- -626,024

2009 0 0% -- -626,024

2008 0 0% -- -626,024

2007 0 0% 2.6%16,290 0626,024


Page 21


POWER CENTER SUPPLY & DEMAND



2023 59,238 3.9% 3.5%56,331 1.11,595,776

2022 54,321 3.7% 3.1%48,088 1.11,536,538

2021 44,718 3.1% 2.0%29,222 1.51,482,217

2020 5,290 0.4% 0.1%1,666 3.21,437,499

2019 150,000 11.7% 10.6%151,775 1.01,432,209

YTD 150,000 11.7% 3.7%53,702 2.81,432,209

2018 14,909 1.2% 1.1%13,847 1.11,282,209

2017 0 0% 3.6%45,983 01,267,300

2016 0 0% -3.2%(40,506) -1,267,300

2015 0 0% 0%(259) -1,267,300

2014 8,800 0.7% 1.1%13,629 0.61,267,300

2013 0 0% 2.3%28,751 01,258,500

2012 25,000 2.0% 2.6%32,146 0.81,258,500

2011 0 0% 1.0%12,467 01,233,500

2010 0 0% 0.5%6,279 01,233,500

2009 124,255 11.2% 10.7%131,466 0.91,233,500

2008 121,844 12.3% 5.2%58,025 2.11,109,245

2007 0 0% 1.1%10,804 0987,401

NEIGHBORHOOD CENTER SUPPLY & DEMAND



2023 7,783 0.3% 0.5%13,696 0.62,621,650

2022 7,131 0.3% 0.5%13,888 0.52,613,867

2021 5,875 0.2% 0.6%15,160 0.42,606,736

2020 13,961 0.5% 1.0%24,776 0.62,600,861

2019 7,600 0.3% 0.9%24,074 0.32,586,900

YTD 0 0% 1.0%25,225 02,579,300

2018 0 0% 3.2%82,501 02,579,300

2017 2,060 0.1% -1.2%(30,952) -2,579,300

2016 2,000 0.1% -1.2%(32,159) -2,577,240

2015 0 0% 0.3%7,937 02,575,240

2014 0 0% 1.8%45,934 02,575,240

2013 6,694 0.3% 1.0%26,285 0.32,575,240

2012 3,295 0.1% 0%252 13.12,568,546

2011 344,899 15.5% 13.0%332,279 1.02,565,251

2010 0 0% 0.5%11,304 02,220,352

2009 26,056 1.2% 0.2%4,693 5.62,220,352

2008 47,141 2.2% -0.7%(15,144) -2,194,296

2007 11,394 0.5% 4.3%92,075 0.12,147,155


Page 22


STRIP CENTER SUPPLY & DEMAND



2023 0 0% 0.3%1,350 0528,764

2022 0 0% 0.3%1,461 0528,764

2021 0 0% 0.3%1,726 0528,764

2020 0 0% 0.4%2,096 0528,764

2019 0 0% -0.8%(3,991) -528,764

YTD 0 0% -0.6%(3,258) -528,764

2018 0 0% 2.7%14,245 0528,764

2017 0 0% 0.2%801 0528,764

2016 0 0% 4.6%24,225 0528,764

2015 0 0% 1.2%6,287 0528,764

2014 0 0% 2.0%10,683 0528,764

2013 0 0% 2.0%10,431 0528,764

2012 0 0% 2.7%14,363 0528,764

2011 0 0% 3.6%18,936 0528,764

2010 6,500 1.2% 1.3%6,674 1.0528,764

2009 11,375 2.2% 1.2%6,422 1.8522,264

2008 2,508 0.5% -4.0%(20,453) -510,889

2007 44,512 9.6% 13.4%68,145 0.7508,381

GENERAL RETAIL SUPPLY & DEMAND



2023 82,574 1.2% 1.2%86,509 1.07,065,381

2022 75,692 1.1% 1.2%83,340 0.96,982,807

2021 107,325 1.6% 1.4%93,858 1.16,907,115

2020 35,166 0.5% 0.9%64,282 0.56,799,790

2019 59,500 0.9% 2.5%168,876 0.46,764,624

YTD 28,500 0.4% 2.3%153,807 0.26,733,624

2018 72,189 1.1% 0.3%22,901 3.26,705,124

2017 92,994 1.4% 1.4%92,754 1.06,632,935

2016 137,318 2.1% 4.1%269,970 0.56,539,941

2015 47,165 0.7% 1.6%103,028 0.56,402,623

2014 71,782 1.1% 1.4%88,959 0.86,355,458

2013 50,222 0.8% 3.4%216,576 0.26,283,676

2012 24,016 0.4% 0.6%38,044 0.66,233,454

2011 6,247 0.1% 1.1%69,963 0.16,209,438

2010 20,442 0.3% 0.7%43,302 0.56,203,191

2009 30,440 0.5% -1.0%(61,720) -6,182,749

2008 287,441 4.9% 1.1%67,001 4.36,152,309

2007 210,120 3.7% 4.4%258,190 0.85,864,868


Page 23

Rent & VacancyGreeley Retail

OVERALL RENT & VACANCY

Market Rent

Per SF Index % Growth Vs Hist PeakYear

Vacancy

SF Percent Ppts Chg

2023 115 0.6% 5.0%$15.45 205,183 1.6% -0.1%

2022 114 0.6% 4.4%$15.36 217,882 1.8% -0.1%

2021 113 0.7% 3.8%$15.27 232,288 1.9% 0.1%

2020 113 1.1% 3.0%$15.15 219,611 1.8% -0.3%

2019 111 1.8% 1.8%$14.98 260,167 2.2% -1.1%

YTD 111 1.5% 1.5%$14.94 328,845 2.8% -0.5%

2018 109 2.0% 0%$14.71 383,739 3.3% -0.4%

2017 107 2.8% -2.0%$14.43 422,820 3.6% -0.2%

2016 104 2.5% -4.7%$14.03 445,776 3.9% -0.4%

2015 102 2.8% -7.0%$13.69 486,776 4.3% -0.6%

2014 99 2.5% -9.5%$13.32 556,604 4.9% -0.7%

2013 97 1.5% -11.7%$13.00 635,227 5.6% -2.0%

2012 95 1.4% -13.0%$12.80 860,354 7.7% -0.3%

2011 94 -1.1% -14.2%$12.63 892,848 8.0% -1.0%

2010 95 -2.1% -13.2%$12.77 975,347 9.0% -0.4%

2009 97 -3.1% -11.4%$13.04 1,015,964 9.4% 0.9%

2008 100 0% -8.5%$13.46 904,699 8.5% 3.3%

2007 100 1.3% -8.5%$13.47 535,194 5.3% -2.0%

MALLS RENT & VACANCY

Market Rent


Vacancy

SF Percent Ppts Chg

2023 134 0.5% 9.0%$26.03 25,517 4.1% -0.3%

2022 133 0.7% 8.4%$25.89 27,497 4.4% -0.5%

2021 132 1.2% 7.6%$25.71 30,340 4.8% -0.5%

2020 131 2.5% 6.4%$25.42 33,615 5.4% -0.4%

2019 128 3.8% 3.8%$24.81 36,037 5.8% -0.5%

YTD 127 3.1% 3.1%$24.63 35,185 5.6% -0.6%

2018 123 4.8% 0%$23.89 39,103 6.2% 1.2%

2017 117 6.5% -4.6%$22.78 31,788 5.1% -1.5%

2016 110 2.5% -10.4%$21.39 41,212 6.6% 6.6%

2015 107 4.0% -12.7%$20.86 0 0% 0%

2014 103 4.4% -16.0%$20.07 0 0% 0%

2013 99 3.3% -19.5%$19.22 0 0% 0%

2012 96 1.8% -22.1%$18.61 0 0% 0%

2011 94 -1.6% -23.5%$18.28 0 0% 0%

2010 96 -1.2% -22.2%$18.57 0 0% 0%

2009 97 -3.2% -21.3%$18.80 0 0% 0%

2008 100 -1.6% -18.7%$19.42 0 0% 0%

2007 102 -0.9% -17.3%$19.75 0 0% -2.6%


Page 24


POWER CENTER RENT & VACANCY

Market Rent


Vacancy

SF Percent Ppts Chg

2023 127 0.8% 9.2%$21.61 34,470 2.2% 0.1%

2022 126 0.9% 8.3%$21.44 31,638 2.1% 0.3%

2021 125 1.4% 7.3%$21.24 25,482 1.7% 1.0%

2020 124 2.3% 5.9%$20.96 10,041 0.7% 0.2%

2019 121 3.5% 3.5%$20.48 6,427 0.4% -0.2%

YTD 120 2.9% 2.9%$20.36 104,500 7.3% 6.7%

2018 117 3.3% 0%$19.79 8,202 0.6% 0.1%

2017 113 4.4% -3.2%$19.17 7,140 0.6% -3.6%

2016 108 3.2% -7.2%$18.36 53,123 4.2% 3.2%

2015 105 3.8% -10.1%$17.80 12,617 1.0% 0%

2014 101 3.4% -13.4%$17.15 12,358 1.0% -0.4%

2013 98 2.5% -16.2%$16.58 17,187 1.4% -2.3%

2012 95 1.9% -18.3%$16.18 45,938 3.7% -0.7%

2011 94 -0.8% -19.8%$15.88 53,084 4.3% -1.0%

2010 94 -2.1% -19.1%$16.01 65,551 5.3% -0.5%

2009 96 -3.6% -17.4%$16.36 71,830 5.8% -1.3%

2008 100 -1.0% -14.3%$16.96 79,041 7.1% 5.6%

2007 101 0.9% -13.4%$17.14 15,222 1.5% -1.1%

NEIGHBORHOOD CENTER RENT & VACANCY

Market Rent


Vacancy

SF Percent Ppts Chg

2023 123 0.7% 7.7%$18.21 40,096 1.5% -0.2%

2022 122 0.8% 7.0%$18.09 46,226 1.8% -0.3%

2021 122 1.0% 6.2%$17.95 53,182 2.0% -0.4%

2020 120 1.8% 5.1%$17.77 62,659 2.4% -0.4%

2019 118 3.3% 3.3%$17.46 73,478 2.8% -0.6%

YTD 118 2.7% 2.7%$17.36 64,727 2.5% -1.0%

2018 114 2.8% 0%$16.91 89,952 3.5% -3.2%

2017 111 4.0% -2.7%$16.45 172,453 6.7% 1.3%

2016 107 3.1% -6.4%$15.82 139,441 5.4% 1.3%

2015 104 3.5% -9.2%$15.34 105,282 4.1% -0.3%

2014 100 2.9% -12.3%$14.82 113,219 4.4% -1.8%

2013 97 2.3% -14.8%$14.40 159,153 6.2% -0.8%

2012 95 1.6% -16.8%$14.07 178,744 7.0% 0.1%

2011 94 -0.3% -18.1%$13.85 175,701 6.8% -0.5%

2010 94 -2.5% -17.8%$13.90 163,081 7.3% -0.5%

2009 96 -3.5% -15.7%$14.25 174,385 7.9% 0.9%

2008 100 -1.2% -12.6%$14.77 153,022 7.0% 2.7%

2007 101 1.2% -11.6%$14.95 90,737 4.2% -3.8%


Page 25


STRIP CENTER RENT & VACANCY

Market Rent


Vacancy

SF Percent Ppts Chg

2023 110 0.6% 2.6%$14.06 8,263 1.6% -0.3%

2022 109 0.5% 2.1%$13.98 9,613 1.8% -0.3%

2021 108 0.5% 1.5%$13.91 11,074 2.1% -0.3%

2020 108 0.5% 1.1%$13.84 12,800 2.4% -0.4%

2019 107 0.6% 0.6%$13.78 14,896 2.8% 0.8%

YTD 107 0.5% 0.5%$13.76 14,163 2.7% 0.6%

2018 107 1.2% 0%$13.69 10,905 2.1% -2.7%

2017 105 2.4% -1.2%$13.53 25,150 4.8% -0.2%

2016 103 2.9% -3.5%$13.22 25,951 4.9% -4.6%

2015 100 3.5% -6.1%$12.85 50,176 9.5% -1.2%

2014 97 2.5% -9.3%$12.42 56,463 10.7% -2.0%

2013 94 2.0% -11.6%$12.11 67,146 12.7% -2.0%

2012 93 1.2% -13.3%$11.88 77,577 14.7% -2.7%

2011 91 -2.1% -14.3%$11.73 91,940 17.4% -3.6%

2010 93 -2.2% -12.5%$11.98 110,876 21.0% -0.3%

2009 96 -4.5% -10.5%$12.26 111,050 21.3% 0.5%

2008 100 -2.7% -6.3%$12.83 106,097 20.8% 4.4%

2007 103 0.8% -3.7%$13.19 83,136 16.4% -6.7%

GENERAL RETAIL RENT & VACANCY

Market Rent


Vacancy

SF Percent Ppts Chg

2023 104 0.5% 1.7%$12.25 96,837 1.4% -0.1%

2022 104 0.4% 1.1%$12.19 102,908 1.5% -0.2%

2021 103 0.3% 0.7%$12.14 112,210 1.6% 0.1%

2020 103 0.2% 0.4%$12.10 100,496 1.5% -0.4%

2019 103 0.2% 0.2%$12.08 129,329 1.9% -1.6%

YTD 103 0.2% 0.2%$12.08 110,270 1.6% -1.9%

2018 103 0.7% 0%$12.05 235,577 3.5% 0.7%

2017 102 1.2% -0.7%$11.97 186,289 2.8% 0%

2016 101 1.9% -1.9%$11.82 186,049 2.8% -2.1%

2015 99 1.8% -3.8%$11.60 318,701 5.0% -0.9%

2014 97 1.6% -5.5%$11.39 374,564 5.9% -0.3%

2013 96 0.5% -7.0%$11.21 391,741 6.2% -2.7%

2012 95 1.1% -7.5%$11.15 558,095 9.0% -0.3%

2011 94 -1.3% -8.5%$11.03 572,123 9.2% -1.0%

2010 95 -2.0% -7.2%$11.18 635,839 10.3% -0.4%

2009 97 -2.7% -5.3%$11.41 658,699 10.7% 1.4%

2008 100 1.3% -2.7%$11.73 566,539 9.2% 3.3%

2007 99 1.8% -3.9%$11.58 346,099 5.9% -1.1%


Page 26

Sale TrendsGreeley Retail

OVERALL SALES

Completed Transactions (1)

Turnover Avg Price/SFDeals VolumeYear

Market Pricing Trends (2)

Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate

2023 -- - -- 149- $187.54 7.0%

2022 -- - -- 149- $187.40 7.0%

2021 -- - -- 151- $189.48 6.8%

2020 -- - -- 149- $187.57 6.8%

2019 -- - -- 144- $180.64 6.9%

YTD $36.5 M47 1.9% $220.93$868,615 1436.2% $179.80 6.9%

2018 $54.5 M70 4.2% $139.73$1,005,988 1417.2% $177.19 6.9%

2017 $75.3 M86 5.2% $195.40$1,116,001 1406.7% $175.49 6.9%

2016 $59.2 M68 5.3% $107.01$1,034,332 1346.3% $168.24 6.9%

2015 $94.0 M56 6.0% $139.48$1,772,806 1366.1% $170.82 6.8%

2014 $57.5 M72 4.0% $147.98$1,003,762 1227.8% $153.19 7.2%

2013 $31.7 M58 3.3% $114.88$804,946 1086.8% $135.83 7.6%

2012 $86.7 M75 10.6% $76.13$1,313,851 1068.0% $133.03 7.7%

2011 $20.2 M34 2.0% $102.55$688,983 968.2% $120.14 8.1%

2010 $35.0 M28 1.9% $176.01$1,551,160 937.6% $116.31 8.3%

2009 $17.6 M29 2.9% $62.42$689,450 888.0% $110.83 8.5%

2008 $25.5 M26 1.7% $139.83$981,361 1007.9% $125.63 7.9%

(1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period.

(2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred.

MALLS SALES





2023 -- - -- 146- $220.32 6.6%

2022 -- - -- 146- $220.23 6.5%

2021 -- - -- 147- $222.46 6.4%

2020 -- - -- 145- $218.88 6.4%

2019 -- - -- 137- $206.99 6.5%

YTD -- - -- 137- $206.84 6.5%

2018 -- - -- 135- $203.30 6.5%

2017 -- - -- 134- $201.94 6.4%

2016 $0.4 M1 0.4% $145.83$350,000 128- $193.90 6.4%

2015 -- - -- 130- $195.77 6.3%

2014 $0.2 M1 0.4% $72.92$175,000 117- $176.91 6.7%

2013 -- - -- 106- $160.01 7.0%

2012 $6.2 M2 81.1% $12.21$6,150,000 106- $159.71 7.0%

2011 -- - -- 95- $142.90 7.5%

2010 -- - -- 94- $141.26 7.6%

2009 -- - -- 89- $134.13 7.8%

2008 -- - -- 100- $150.99 7.3%




Page 27


POWER CENTER SALES





2023 -- - -- 151- $204.36 6.9%

2022 -- - -- 150- $203.84 6.8%

2021 -- - -- 152- $205.45 6.7%

2020 -- - -- 149- $202.07 6.7%

2019 -- - -- 142- $192.10 6.8%

YTD $7.7 M5 1.4% $637.31$2,566,667 1405.3% $190.31 6.8%

2018 $3.2 M1 0.8% $321.43$3,150,000 1377.2% $186.16 6.8%

2017 $4.0 M1 0.5% $603.16$3,967,000 1366.3% $184.57 6.8%

2016 -- - -- 130- $175.82 6.8%

2015 $15.6 M3 8.0% $154.52$5,216,667 1366.9% $184.71 6.5%

2014 $2.6 M1 0.3% $718.22$2,584,856 120- $163.10 7.0%

2013 $1.2 M1 0.4% $224.35$1,150,000 107- $144.55 7.4%

2012 $1.4 M2 1.0% $521.97$1,437,500 1058.0% $142.21 7.4%

2011 -- - -- 96- $129.71 7.8%

2010 -- - -- 93- $126.06 8.0%

2009 -- - -- 89- $120.05 8.2%

2008 $1.2 M1 0.6% $174.85$1,150,000 100- $135.54 7.6%



NEIGHBORHOOD CENTER SALES





2023 -- - -- 155- $181.05 6.9%

2022 -- - -- 155- $180.80 6.9%

2021 -- - -- 156- $182.51 6.7%

2020 -- - -- 154- $180.01 6.7%

2019 -- - -- 147- $171.85 6.8%

YTD $1.8 M2 0.4% $180.34$889,362 146- $170.31 6.9%

2018 $7.8 M6 2.2% $222.46$2,354,333 1437.0% $166.89 6.9%

2017 $5.4 M3 1.4% $146.50$1,816,667 1428.1% $165.79 6.8%

2016 $11.6 M4 5.6% $79.46$2,891,125 1358.3% $157.81 6.9%

2015 $27.7 M6 11.8% $91.21$4,612,500 1425.7% $165.59 6.6%

2014 $6.4 M7 3.0% $119.23$1,593,750 1246.9% $144.57 7.1%

2013 $7.2 M5 2.5% $110.87$1,444,000 1096.4% $127.28 7.5%

2012 $41.5 M19 12.3% $131.65$2,186,579 1078.1% $124.66 7.6%

2011 $3.8 M4 1.2% $546.36$1,915,000 96- $112.58 8.0%

2010 $4.9 M4 1.8% $119.82$1,227,500 936.8% $108.73 8.3%

2009 $1.9 M3 6.9% $15.19$1,894,400 88- $103.03 8.5%

2008 $9.6 M2 2.3% $191.63$4,787,500 1008.1% $116.73 7.9%




Page 28


STRIP CENTER SALES





2023 -- - -- 140- $186.07 7.0%

2022 -- - -- 139- $185.91 7.0%

2021 -- - -- 141- $187.96 6.8%

2020 -- - -- 140- $186.32 6.8%

2019 -- - -- 135- $180.12 6.9%

YTD $0.3 M1 0.6% $100.90$335,000 136- $181.74 6.9%

2018 $7.6 M4 9.3% $155.07$2,466,333 1356.6% $179.61 6.9%

2017 $5.1 M5 7.7% $145.42$1,511,667 1337.6% $177.74 6.8%

2016 $0.7 M3 1.9% $92.77$499,800 128- $170.72 6.9%

2015 $1.5 M2 4.0% $69.39$730,000 1265.0% $168.39 6.9%

2014 $7.3 M3 8.4% $165.64$2,439,542 1178.4% $156.40 7.1%

2013 $0.6 M3 2.5% $54.72$590,800 104- $138.66 7.5%

2012 $1.2 M2 2.2% $100.17$577,500 101- $134.57 7.7%

2011 $2.4 M3 6.4% $71.70$1,122,500 92- $123.20 8.0%

2010 $3.5 M6 4.1% $181.56$1,441,500 929.0% $123.16 8.2%

2009 $7.2 M9 11.3% $122.42$801,891 887.3% $117.85 8.4%

2008 $1.4 M2 2.9% $95.91$720,000 1008.2% $133.36 7.8%



GENERAL RETAIL SALES





2023 -- - -- 148- $183.60 7.1%

2022 -- - -- 148- $183.58 7.1%

2021 -- - -- 150- $185.89 6.9%

2020 -- - -- 149- $184.63 6.9%

2019 -- - -- 144- $179.22 7.0%

YTD $26.7 M39 2.8% $190.67$740,781 1446.5% $178.59 7.0%

2018 $35.9 M59 5.6% $121.34$776,204 1427.5% $176.65 7.0%

2017 $60.8 M77 7.8% $198.27$1,013,668 1416.1% $174.69 7.0%

2016 $46.5 M60 6.9% $117.15$912,601 1365.8% $168.09 7.0%

2015 $49.2 M45 4.0% $198.35$1,170,803 1356.3% $167.80 6.9%

2014 $41.1 M60 5.1% $144.07$849,187 1237.8% $151.98 7.3%

2013 $22.8 M49 4.6% $116.67$701,003 1097.5% $134.82 7.7%

2012 $36.4 M50 5.4% $119.28$847,132 1067.8% $131.73 7.8%

2011 $13.9 M27 2.6% $89.26$556,220 968.2% $118.70 8.2%

2010 $26.5 M18 2.2% $191.88$1,645,782 927.5% $114.35 8.5%

2009 $8.5 M17 1.7% $86.30$541,655 888.2% $109.20 8.7%

2008 $13.4 M21 1.8% $120.36$635,733 1007.2% $124.03 8.1%




Page 29

Documents

REPORT GREELEY - Unique Properties · years in 2016 and 2017, four times the national average. In every other metro area in Colorado, population growth decelerated in 2017 compared