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Cityot <br />Louisville <br />COLORADO • SINCE 1878 <br />BUSINESS RETENTION AND <br />DEVELOPMENT COMMITTEE <br />SUBJECT: <br />LOUISVILLE ECONOMIC INDICATORS AND 2015 GOALS <br />DISCUSSION <br />DATE: JULY 7, 2014 <br />PRESENTED BY: AARON DEJONG, ECONOMIC DEVELOPMENT <br />SUMMARY: <br />With 2014 half over, staff wanted to provide a summary of the status of some economic <br />development indicators in Louisville. Also, with several planning efforts starting <br />(McCaslin and South Boulder Road small area plans), a description of economic <br />development issues are described. <br />DISCUSSION: <br />Vacancy Rates <br />The commercial database city staff subscribes to, Xceligent, provides broker submitted <br />information about many of the commercial, retail, and industrial properties in the city <br />and region. The information is updated frequently, but there may be some properties <br />that are not updated with current tenancy and ownership information. This information is <br />a good tool to identify vacancy rates within the City. The following are the property <br />statistics of non - residential property types in Louisville. <br />Louisville, CO Property Statistics by Use <br />July 1,2014 <br />Retail Industrial /flex Office <br /># of Properties 85 103 91 <br />Building Size 1,400,082 3,822,276 1,588,506 <br />Occupied SF 1,289,676 3,138,561 1,480,729 <br />Total Vacancy 7.89% 17.89% 6.78% <br />Total Vacant SF 110,406 683,715 107,777 <br />Direct Vacancy 7.79% 6.09% 6.65% <br />Direct Vacant SF 109,132 232,694 105,677 <br />Sublease Vacant SF 1,274 451,021 2,100 <br />Total Available SF 75,976 1,277,702 146,473 <br />Direct Available SF 74,702 807,882 115,794 <br />Sublease Available 1,274 469,820 30,679 <br />SF <br />NW Denver Market <br />8.28% 7.82% 12.02% <br />Total Vacancy <br />5 <br />