Niobrara Boom Heats Up Industrial Real Estate Market

June 27th, 2011
(Source: Greeley Tribune, Colorado) By Sharon Dunn, Greeley Tribune, Colo.

The impact of the Niobrara boom in northern Weld County is being felt throughout northern Colorado from the jobs it’s creating to the tax treasuries it’s fueling.
Its presence also is being felt increasingly in the northern Colorado real estate market, where many companies have been looking to relocate.
The past year, in fact, has seen a frenzy of industrial sales  in the Greeley area, all the way up the U.S. 85 corridor that traverses Greeley, as more companies jump in to get a piece of that Niobrara oil and gas pie.

Vacancy rates on industrial properties in Greeley likely haven’t been so low in years. Calls for industrial properties to the city of Greeley, likewise, have skyrocketed.

“We are definitely seeing more inquiries in office about locations for not only oil and gas headquarters and offices, but yards for storage and equipment and materials,” said Becky Safarik, community development director for the city of Greeley. “We are getting inquiries from people outside the area that we haven’t historically heard from, who are probably trying to make a play for the Niobrara.”

Realtors and developers are now working on options to beef up that industrial inventory in Greeley, what one is calling the epicenter of the Niobrara.

Continue Reading Article at the Greeley Tribune

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