T
he Grand Junction commercial real estate market is stabilizing after a tumultuous period of high interest rates. While office spaces continue to struggle, industrial and retail areas are experiencing increased demand. According to Becca Posner, Commercial Broker with Coldwell Banker Distinctive Properties, the local market remains healthy due to its smaller size.

    "We're fortunate that we have a diverse economy," Posner said. "Even though some areas have low inventory or high vacancy rates, our overall commercial market is doing well."

    Sid Squirrell, Commercial Broker and Developer with Bray Commercial Real Estate, agrees that the market has adjusted to the recent interest rate fluctuations. "Interest rates are coming down, which will make borrowing cheaper," he said. "This will be a positive factor for buyers and sellers."

    However, both Posner and Squirrell acknowledge that the upcoming election and global conflicts have created uncertainty among potential buyers. Despite this, they remain optimistic about the market's future.

    Retail and industrial spaces are showing signs of recovery, with many vacancies being filled quickly. The 24 Road corridor is experiencing significant development, including new businesses and infrastructure projects. Additionally, medical offices are expanding throughout Grand Junction, and larger companies are establishing distribution hubs in the area.

    Posner notes that Grand Junction's proximity to major cities like Salt Lake City and Denver makes it an attractive location for businesses. However, developers face challenges such as high building costs, permitting timelines, and supply chain expenses.

    Squirrell suggests that construction costs may not reset until a market downturn occurs, which could lead to increased prices for new developments. To navigate these complexities, prospective buyers and sellers should work with experienced brokers who know the local market and can provide guidance throughout the process.

    Ultimately, Posner and Squirrell believe that Grand Junction's commercial real estate market will continue to grow, driven by its unique blend of natural beauty, recreational opportunities, and economic diversity.