Commercial Vacancy Rates

Desired Result:  Below Target

 
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Analysis of Performance


  • This is a quarterly measure - data is available for 2Q21.
  • All vacancy rates have ticked up since January 2021 as a result of the COVID pandemic, although retail vacancy rates seem to be rebounding as of June 2021 and is currently under 5%. 
  • Office vacancy rate is a concern at this point with the shift in workspace needs


We will continue to monitor commercial vacancy rates, especially for office space, and will work with our regional partners as we move forward.

Metric Definition
Percentage of vacant, leasable commercial space within the city. This is divided into three categories: Industrial, Office, and Retail. The category with the worst vacancy rate is displayed and that is the value compared to our target.
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 Economic Health Office directly relate to users of commercial space, but actual leasing activity is also influenced by other outside factors.

Benchmark Information
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.