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Energy Slump Doesn't Bother Greeley Apartments

Energy Slump Doesn't Bother Greeley Apartments

Has the turmoil in the oil and gas industry affected the Greeley apartment market? Not at all, Marcus & Millichap's Nick Steele tells us. Greeley's one of the tightest rental markets in Colorado (now under 5% vacancy), with a lot of owners experiencing little or even no vacancies. That's because Greeley's still a highly desirable place to live, and the local economy's diverse enough to sustain the apartment market.

Energy Slump Doesn't Bother Greeley Apartments

Recently Nick and colleague Jacob Steele oversaw the sale of the 108-unit Columbine Apartments in Greeley for $6.7M to a private investor. Nick says the property, a garden-style complex at 3208 West 7th St, will benefit from the strength of the overall market, but also an anticipated renovation.