Commercial Vacancy Rates
- Analysis of Performance
- Metric Definition
- Why Is This Important?
- City Organization Impact on Performance
- Benchmark Information
Analysis of Performance
For Q1, Industrial vacancy rose by .5% to 2.2%, while Office dropped to 4.5% and Retail dropped to 5.3%. The average of the 3 measures is 4%, below our target of 5%.
Percentage of vacant, leasable commercial space within the city.
Why Is This Important?
Commercial property use provides a measure of economic activity and economic capacity. As the vacancy rate drops additional commercial space may be necessary to capture economic activity.
City Organization Impact on Performance
Medium - The activities of the Eonomic Health Office directly relate to users of commercial space, but actual leasing activity is also influenced by other outside factors.
This metric contains no benchmark data because the purpose of this metric is to track economic trends within Fort Collins over time. The internal focus of this metric limits the value of benchmarks; historical comparisons to the City’s past performance are more meaningful for this metric.