September 3, 2025
Commercial real estate sales in Mesa County continued to mirror first-quarter trends through the second quarter of 2025. While overall sales volume increased 4% year over year from $94.9 million in the first half of 2025 compared to $91.7 million during the same period in 2024, the number of transactions were slightly less. Year to date, commercial transactions have decreased by 12%, dropping from 100 transactions in the first half of 2024 to 88 in the first half of 2025.
“Commercial product is still selling, but each deal is much more difficult and takes longer,” said Sid Squirrell, Commercial Broker at Bray Commercial Real Estate. “Those selling must have patience and work through the struggles, whether it be appraisals, due diligence, or financing, or in most cases, all three. Buyers’ confidence levels are lower than they have been in the past few years, but they can still see the opportunities. They are trying to be as cautious as possible in order to protect their assets and not make costly errors along the way.”
Several notable sales closed during the quarter including the QSR sales of the KFC on North Avenue (1111 North Avenue) selling April 30 for $1.8 million and the Clifton KFC (3219 F Road) selling May 21 for $1.65 million. The Silver Sage Residences 24-unit multifamily property located at 1251 Bookcliff Avenue sold May 1 for $5.23 million, followed by a portion of the Halliburton Campus that included 10.75 acres and a 58,275 square foot industrial building at 365 32 Road, which sold May 2 for $5.6 million. In addition, 13.3 acres southwest of the Grand Junction Regional Airport located at 2775 H Road sold for just under $1.6 million.
Active inventory increased over last quarter in both sales and leasing categories. Compared to a year ago, however, active commercial sales listings declined 6%, from 222 in Q2 2024 to 208 in Q2 2025. The leasing market told a different story, with available properties up 16% year over year – an increase from 165 in Q2 2024 to 195 in Q2 2025.
“Tenants are cognizant of the costs of operating their businesses and are making calculated decisions on the product that is available on the market,” said Brian Bray, Managing Broker of Bray Commercial Real Estate. “The market is working favorably for landlords with good quality product that is priced for the market.”
Mesa County’s broader economic indicators showed modest but steady performance. Sales tax collections were up 1.1%, increasing from $26.7 million in the first half of 2024 to $27.0 million in the first half of 2025. Commercial building permit activity remained consistent, with 18 permits issued year to date compared to 17 during the same timeframe in 2024.
Colorado Mesa University (CMU), celebrating its 100th year of higher education, has begun several major capital projects. Following its $54 million Asteria Theatre investment, CMU announced plans for the Formation District Food Hall, a dining facility designed to serve both the expanding campus and the wider community, as well as the Centennial Village Student Housing Project, a 100,000 square foot, 310 bed residence hall right next to Asteria Theatre.
Infrastructure investment is also underway at the Grand Junction Regional Airport, where runway construction is in full swing. The airport recently received a $12.5 million Airport Improvement Program grant from the Federal Aviation Administration on Aug. 18 to support its ongoing runway expansion, which is currently about a year ahead of schedule and now plans to be complete in 2029. In addition, the airport announced the return of Delta Airlines, which will enhance connectivity, giving Western Colorado travelers more choices and improved access to major hubs.
Population growth continues to be a significant factor shaping the region. A recent Common Sense Institute migration study reported that Mesa County’s net migration rose from 1,000 residents in 2019 to 1,806 in 2023 – an 80.6% increase in just four years. The study projects this trend will continue, with net migration nearly doubling again to approximately 3,037 by 2035.
“In Grand Junction and Mesa County, with rooftops growing, there is a positive correlation to employment growth ultimately reinforcing the fundamentals that support commercial activity growth. Driving unemployment down is always a positive trend for the community that is trying to attract a workforce as well.,” said Brian Bray. “The market is working through its adjustments, but by 2026 we anticipate a different landscape as the fundamentals fall into place for long-term growth.”
Overall, Mesa County’s commercial market is in a period of normalization, with sales activity slowing even as overall volume and leasing opportunities are holding steady. Economic indicators such as a slight increase in sales tax collections and consistent construction permits point to stability, suggesting that the base is being laid for long-term growth. While challenges in financing, the cost of capital, and buyer confidence continue to weigh on the market, the outlook for 2026 remains positive as adverse conditions gradually work themselves out.
About Bray Commercial Real Estate
Bray Commercial Real estate is proud to offer a broad spectrum of services, ensuring that every client’s unique real estate needs are met with unparalleled expertise. From commercial sales and leasing to property management and investment opportunities, our specialists are equipped to guide you through every step of the real estate journey.
Darah Galvin
Real Estate Analyst
Bray Commercial Real Estate