Property broker Travis Ackerman offers a closer look at the growing Fort Collins economy and its positive impact on real estate in Larimer County and across northern Colorado.
From Colorado State University’s research facilities and its steady supply of educated graduates to the billion-dollar local craft beer industry, leading North Colorado real estate broker Travis Ackerman delves into the Fort Collins property market and explores the thriving local economy’s impact upon the sector.
“While many might consider Fort Collins a college town, owing to Colorado State University, the city’s economic strength stems from the diversity of the employers located here,” suggests Ackerman, a director for Cushman & Wakefield Commercial Real Estate, himself based in the vibrant North Colorado municipality.
Colorado State University’s influence, however, he says, cannot be disregarded. “The university plays a vital role in drawing in the city’s broad range of high-paying employers,” Ackerman explains.
Because of Colorado State University’s resources, research facilities, and thanks to its constant supply of highly educated graduates, more than 20 Fortune 500 companies—including a number of big-name tech firms—are now based in the Fort Collins-Loveland metropolitan area, according to Ackerman. These include, he says, Hewlett-Packard, AMD, and Intel.
Ackerman believes that these firms are perfectly positioned to take advantage of partnerships with Colorado State University and its research laboratories, incubating an employee base already experienced in field work.
“Fort Collins has also developed a sizable craft beer scene and, with it, an incredibly significant craft beer industry, with the city and surrounding areas home to notable brewers including New Belgium, Odell, Black Bottle, and industry behemoth Anheuser-Busch,” reveals Ackerman. The local craft beer industry, he says, now accounts for more than $1 billion in annual economic impact upon Fort Collins and wider Larimer County, responsible for 3,000 jobs and around $175 million in wages.
Population growth data released last year suggested that the Fort Collins-Loveland metropolitan area’s population increased by around 1.7 percent for the second straight year during 2017, according to Ackerman. This, he says, while still twice the national average, remains lower than the 2.5 percent back-to-back yearly growth witnessed in the Fort Collins-Loveland metropolitan area during 2014 and 2015.
Despite this slight slow down, however, the Fort Collins leisure and hospitality, and education and health services sectors continue to grow rapidly, posting some of the strongest growth numbers witnessed anywhere nationally in recent years. “What’s more,” adds Ackerman, wrapping up, “a low cost of living and affordable home prices continue to make the local metro area attractive to both businesses and employees alike.”
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.