Denver’s Commercial Retail Real Estate Market is on the Rise and There’s no Sign of Stopping!
Coming in second behind San Francisco, Denver is expected to outperform all other global retail markets at 7 percent for the years to come. Last year alone, 19 properties in the metro area sold for over $100 million, that’s a combined $2.6 billion. Surprisingly this is only the beginning for the mile high city.
As the technology and finance world continues to be in high demand, cities like Denver are at the forefront for high-end retailers to set up shop. Showing a promising future in e-commerce and the need for a company’s physical presence in the Rocky Mountains, Denver is the place to be. CBRE Industrial and Logistics’ executive vice president, Jim Bolt predicts the demand for bigger buildings for these such companies and Denver can provide just that; promising buildings as big or bigger than one million-square-feet.
Denver Attracts the Big Guys
Denver has already been able to attract a number of influential companies, one of them being IKEA. Who is currently in negotiations to open a new 123-acre location with predictions to employ over 250 people. In addition to this, Colliers International reports that, Denver has obtained the Bronco’s $351 million “Entertainment District” development project. Which not only includes retail and commercial developments, but residential developments as well.
Deemed the fastest growing large city in America and the third best state for business, Denver shows a continued demand and promising future within the commercial real estate market. Its diverse and thriving culture promises a community full of opportunity and continuous growth, one definitely worth pursuing.
If you’re interested in commercial real estate opportunities in the Denver area contact Lance Somerville at (303) 759-6663 or visit his website.
MyNOI connects investors with the knowledge they need to make smart decisions and the right brokers to reach their goals. As a team we gather & write timely and salient articles for you to develop your expertise as a commercial real estate investor and broker.