CBRE Updates 2020 Hotel Outlook
CBRE has updated its 2020 Hotel Outlook amidst the Covid-19 pandemic. While outbreaks of several forms of transmissible viruses such as SARS, Ebola, and H1N1 (Swine Flu) took a large human toll, they were not as impactful on the paid accommodation industry as the COVID-19 virus. CBRE expects GDP growth …
Global Revenue for Commercial Building Automation Solutions is Anticipated to Exceed $44B by 2029
A new report from Navigant Research states that global revenue for commercial building automation solution (BAS) products is anticipated to reach more than $44.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 3.2 percent between 2020 and 2029. The commercial BAS market is undergoing large structural change. …
Economic Forecast Predicts Possible Recession
The Office of State Planning and Budgeting released the March economic forecast showing the significant economic impact of COVID-19. While Colorado’s economy has expanded since the December forecast, the rapid spread of the COVID-19 virus poses a significant risk to the state’s economy. Economic activity is expected to slow sharply over the coming …
Interest Rates Hit All-Time Low as Coronavirus Spreads
While the coronavirus will weigh on the U.S. economy in the first quarter, growth should be sustained. According to the Marcus & Millichap special report on the virus outbreak, expectations of weaker exports, reduced tourism and supply chain-related shortfalls will moderate the pace of economic growth. However, low unemployment and comparatively strong consumption levels should …
Denver Industrial Development to See a 53% Boost in 2020
Commercial Café’s latest study compares the top 20 industrial markets in the U.S. Using data from Yardi Matrix, the study looks at how much industrial space we can expect to be added in 2020. Overall, U.S. industrial property completions are set to add 186 million square feet across 627 properties. This is …
Construction Job Openings Declined in 2019 but Remain Historically High
Accounting and advisory services firm Marcum LLP, today released its annual analysis of construction employment data from the U.S. Bureau of Labor Statistics’ Job Openings and Turnover Survey (JOLTS). The analysis is produced by Marcum’s national Construction Industry Group to uncover changes and identify emerging trends in construction hiring and jobs …
Light-Rail Expansion Highlights Office and Investor Demand in Denver
Denver’s office market is remarkably resilient and healthy, according to Marcus and Millichap’s 2020 Office Investment Forecast. Developers have remained disciplined when considering new projects over the past few years. Even speculative office space is largely focused in the major office districts of LoDo, the CBD and near the Denver …
Tech and Big Deals Dominate Office Leasing in Denver
2019 was another solid year for office leasing in the U.S., according to Cushman & Wakefield’s latest report. The tech-heavy West region, including Denver, recorded the largest volume of leasing. Key Takeaways Leasing activity was strong and stable in 2019, at roughly the same volume as in 2018. The West …
Colorado a Top 5 Market for Vacant Land Sales
Vacant land is a hot commodity in the commercial real estate sector. According to CRE data platform Reonomy, recent sales volume across the asset class has grown steadily over the past few years, with average sales price following suit in many markets. While national performance is strong, the national vacant …
Cherry Creek and Boulder Among Most Expensive U.S. Office Submarkets
According to a study conducted by CommercialCafé, both Cherry Creek and Boulder made the Top 100 list of the most expensive office submarkets in the nation. Here are a few key takeaways from the study: Denver’s Cherry Creek is the most expensive submarket in Colorado, and the 31st in the …