Mesa County 2022 Q4 Market Update

Mesa County 2022 Q4 Market Update

market update bray real estate

2022 definitely felt some shock waves from the Fed’s manipulation of the market, but liquidity seems to be holding the foundation together. Hospitality groups are seeing record breaking revenues and Grand Junction still seems to be attracting lifestyle movement at a healthy rate. Business opportunities seem to be ripe for acquisition and with turmoil in the stock market, commercial real estate seems to be a great place to put your money these days!


  • Grand Junction High School: Construction has begun.
  • The Human Bean: Coffee shop franchise under construction at Teller Arms Plaza/2501 North Avenue in Grand Junction and 3222 F Road in Clifton.
  • Starbucks: 7,400 sq.ft retail building (to include drive-thru Starbucks) is under construction at 702 Horizon Drive.
  • Panera Bread: Construction for 4,000 sq.ft. QSR chain was approved at 2541 Hwy 6&50, Grand Junction.
  • Former Downtown City Market: Developer is proposing a 256-unit apartment complex.
  • Multifamily Development Projects: Two apartment buildings of 18 and 19 units at 111 South Mesa Street and 204 South Mulberry Street, Fruita are almost complete. 507 and 535 W. Aspen Street, Fruita, is slated for 72 apartment units and 16 townhomes. 72 units in two buildings on Market Street near 24 Road and F½ Road is under construction. Plans for 164 units on six acres at 111 Kimball Avenue, Grand Junction, the site of the old sugar beet factory. 240-unit complex proposed off F½ Road is also in the works.
2021 Q4 2022 Q4 %+-
VELOCITY (Source – Mesa County Assessor)

Commercial Sales Volume


$300,877,325 -7%
Commercial Transactions


338 -18%
CAP RATE 7.0% 7.0% -0.5%
SALES TAX INDICATORS (Source –City of Grand Junction)
All Sales Tax



Lodging Taxes




About The Author

Brian Bray, Bray Commercial Real Estate

Born and raised in western Colorado, Brian Bray is a fourth-generation member of Bray Commercial Real Estate, which was founded in 1946 by his great-grandfather, Sherman Bray. With over 13 years of commercial real estate experience, Brian Bray serves clients in the Grand Junction area.