By the end of Q3 2019, Denver’s economy was more than healthy reaching a 2.8% unemployment rate, well below the national average of 3.7%. And despite signs of an economic slowdown, and the 2020 election looming ahead, Denver’s economy has been diversifying through its economic expansion period hedging it against some of the detriments a downturn may cause. In our experience, demand for commercial real estate remains positive. In Denver, and similar tier 2 metros like Atlanta, Dallas, and Phoenix, developer investments and incoming businesses are strong.
Denver, and Colorado, as a whole are a hotbed of activity for new companies moving into the market, professionals relocating to the area, and major growth in professional, scientific, and technical service sectors. Companies looking to on board new talent are vying for downtown office space to attract these employees. This is evidenced by the top markets for rent growth, Lower Downtown, River North, and the Denver Central Business District, which are all located downtown. Denver’s well-diversified economy continues to support the office sector.
As highlighted in our report, the commercial market in Colorado is going strong. At this time, building owners should be considering opportunities to cash out of their investment, and property buyers should take advantage of low commercial loan rates.
For more information on how to benefit from the current Denver market, contact Transworld Commercial Real Estate at 720-574-2953 or visit transworldcre.com.
Transworld is a boutique-style commercial real estate firm serving Colorado and the greater Rocky Mountain Region. Transworld provides clients a holistic suite of services for their commercial acquisitions and dispositions along with the unbiased and honest representation they deserve. Through their business brokerage partner, Transworld Business Advisors – Rocky Mountain, Transworld also advises clients on business mergers & acquisitions.
*This Commercial Market Report was compiled with data provided by Transworld Commercial Real Estate, and CoStar.