REBusinessOnline

Denver Industrial Market is Still Climbing

Denver’s industrial market has had an impressive run so far this economic cycle – so much so that the top-of-mind-question is, “Where do we go from here?” Last year was a prolific year, attracting new investors, delivering 4.5 million square feet of Class A space and posting the fifth straight year of sub-5 percent vacancy. But the outlook for 2017 is brighter given Denver’s strong economic foundation, the arrival of e-commerce users and delivery of much-needed warehouse …

Five Transformative Years Elevate Denver’s Office Market

The region is creating transformative projects that are substantially elevating the desirability of its office market five years into Denver’s strong development cycle. This trend — strongest in Denver’s Central Business District (CBD) and Southeast Suburban (SES) submarkets — is attracting a new breed of tenants to the Denver landscape. [caption id="attachment_181853" align="alignright" width="100"] Jamie Gard, Newmark Grubb Knight Frank[/caption] [caption …

Job Growth Encourages Industrial Development

Denver’s economic growth, its reputation as a commercial hub in the Rockies and the growth in e-commerce sales are all factors contributing to the metro’s strong industrial property performance. [caption id="attachment_182226" align="alignright" width="100"] Bob Kaplan, Marcus & Millichap[/caption] Denver employers are on track to add 39,000 new workers to their headcounts by year end, expanding the local workforce by 2.8 percent, with the professional and business services and …

Investor Demand Outpaces Retail Property Listings in Booming Denver Metro

[caption id="attachment_133205" align="alignright" width="100"] Richard Bird, Marcus & Millichap[/caption]A booming Denver economy has strengthened the local real estate market, creating strong demand across all property sectors, including multifamily, housing, office and retail. The wealth effect stemming from robust employment and rising home values will specifically drive retail sales in the Denver metro this year. A thriving retail market will attract new tenants to the metro, and …

Colorado Springs Industrial Market Looks Positive

[caption id="attachment_131832" align="alignright" width="150"] Andrew C. Oyler, Quantum Commercial Group [/caption] The Colorado Springs industrial real estate market continues to rebound with a decrease in vacancy to 8.1 percent, an increase in the average asking rate to $6.19 per square foot (NNN) and a net positive absorption of 199,101 square feet. Along with these improvements, there has been a healthy number of owner/user acquisitions in the industrial market that has created a more …

Apartment Construction Picks Up in Denver After a Lull

Construction of apartment buildings is leading the Denver metro area’s building boom, with more than 19,000 units starting construction in 2012 and 2013 that are expected to be delivered this year. This is the most apartments this market has added in such a short period of time in more than 40 years. This construction boom follows a stretch where we saw little multifamily development, which created a short-term need to catch up with current population growth demands. Some perceive …

Denver's Union Station Area Attracts Retailers Near and Far

Despite the continuing economic uncertainty, the Denver market is maintaining its status as a major thriving city with respect to all aspects of growth from commercial real estate sectors. This growth is clearly apparent by all the cranes in operation as you drive down Interstate 25—the main arterial highway that runs north and south bound through the entire state. Though 1.2 million square feet of retail was built in 2013 – and 197,000 square feet was delivered in the first …

Jobs, Strong Housing Market Drive New Retailers to Denver

Fueled by an increase in population and job growth, Denver’s robust housing market and the constant influx of young professionals to the region has attracted some attention. Both new and existing retailers and investors are now looking to either penetrate or expand within this ever-growing market. Metro Denver added a total of 37,300 jobs last year. This was an increase of 2.7 percent from 2011, according to the Metro Denver Economic Development Corp. The region’s growth rate has …

Options dwindling for large, Class A users.

After emerging from the downturn, Denver’s industrial market is well and truly back on its feet. As options for large, Class A industrial users of more than 200,000 square feet dwindle, build-to-suit projects are popping up at levels last seen in 2006 and 2007. This is a great sign for the overall health and recovery of the state’s industrial real estate market. Polystrand has almost completed a 120,000-square-foot manufacturing facility in southeast Denver; Interline …

Full recovery predicted by year's end.

The Denver office market ended the first quarter of 2012 with an overall vacancy rate that fell to 13.1 percent. According to CoStar, the vacancy rate was down from the previous quarter of 13.2 percent. Net absorption was more than 1.6 million square feet, which included 900,000 square feet in the central business district (CBD), and 700,000 square feet in the suburban markets. Sublease vacancies also declined from 950,000 square feet to 900,000 square feet. Overall rental rates averaged …

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