Commercial Vacancy Rates
- Analysis of Performance
- Metric Definition
- Why Is This Important?
- City Organization Impact on Performance
- Benchmark Information
Analysis of Performance
In Q4 of 2013, office vacancy dropped from 6.6% to 6.0%, and industrial vacancy remained essentially unchanged, dropping from 3.2% to 3.1%. Retail vacancy rose for the first time in 2 years, from 5.2% to 5.5%.
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.