Weld sees boom in industrial space
email@example.com February 24, 2012
Industrial vacancy rates in the county have dropped from 8.4 percent just before the discovery of the Niobrara in September 2009 to 6.5 percent in the fourth quarter of 2011, according to data from CoStar.
CoStar's data also shows that of the total 18.6 million square feet of rentable building area in Weld County, only 1.2 million square feet is vacant.
Steve Kawulok, managing director at real estate brokerage Sperry Van Ness said the few industrial spaces that are available in Weld County don't meet the specifications of the oil and gas servicers that want to set up shop in the area.
"There is virtually no supply for what the market is demanding," Kawulok said.
Oil and gas giants Anadarko and Noble moved into the market in 2010, and the trickle-down has brought suppliers, servicers and distributors related to the energy industry in droves.
The influx has been a saving grace for Weld County real estate, with new companies picking up where others left off.
"What the construction industry left behind during the recession has
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