What you need to know about Denver Commercial Real Estate

The mountain panorama visible from Denver is 140 miles long featuring 32 peaks that reach above 13,000 feet high which are all nestled among the 200 peaks in total. This creates in ambience hard to match anywhere.

Ranked in the top 7 growth states, the Colorado Population population has increased each year with major growth starting in 2010 when it stood at 5,048,644. Since then, population has increased by over 491,901 residents to over 5,540,545 in 2017, according to U.S. Census estimates.

Denver’s economy did slow a little in 2015 as employment growth fell below 3% for the first time in four years (but still came in at a solid 2.7%). Perhaps unexpectedly, especially given Denver’s moderate exposure to oil, employment growth rebounded in 2016: Revised numbers for 2016 put year-over-year employment growth at 3.2%. Moreover, unemployment in Denver remains exceptionally low while Denver’s population continues to grow at roughly twice the national average in 2017. Moderate living and business costs coupled with the metro’s high median household income will aid in fostering in-migration and continued growth.

The Denver office market remains more than 100 basis points above last cycle’s peak, propelled by Denver’s well-diversified economy and highly educated labor force. Office demand has capitalized on the metro’s outsized exposure in office-using sectors, including telecommunications, financial activities and more. Denver truly has its own brand of specialization in the high-value-add industries like engineering, energy, communications, and high tech which will also continue to drive growth.

Denver offers the 10th largest downtown in America which is one of the most exciting and walkable downtowns. Denver has three major sports stadiums, the nation’s second-largest performing arts center, and there are more than 8,400 hotel rooms and over 300 restaurants in Denver. Denver has a $140 million theme and water park, a $100 million aquarium, and various of History, Science, and Art Museums available in addition to all major outdoor activities available.

Denver has more than 200 parks within the city and 20,000 acres of parks in the nearby mountains, including spectacular Red Rocks Park & Amphitheatre. The parks are well utilized as Denver has a mild, dry and sunny climate with more annual hours of sun than San Diego or Miami Beach. Even in the winter, Denver is dryer than Phoenix with an average daily high of 45 degrees making year-round gold and trips to the park feasible.
Denver has the second highest educated population in America with an appetite for learning and all things popular culture. The Denver Performing Arts Complex has nine theaters seating 10,000 people and is second only to New York’s Lincoln Center. The seven-county metro area has a self-imposed sales tax for the arts that raises up to $40 million a year, which is distributed to 300 arts organizations and facilities. Denver’s live music scene entertains year-round, ranging from intimate venues like the Paramount Theatre to legendary open-air spots like Red Rocks Park & Amphitheater.

Denver is among only a few cities to have seven professional sports teams ranging from basketball, football, baseball, and soccer. There are 85 miles bike paths in Denver, 90 golf courses all of which can easily be explored within the city.

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.

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