Denver Tops Multifamily Absorption List in November
According to the Yardi Matrix Multifamily National Report for November, demand for multifamily housing remains high nationwide. More than 320,000 multifamily units have been absorbed nationally. While it’s not expected that absorption will reach 2016’s cycle peak of 377,000 units, 2019 marks the sixth straight year with at least 250,000 multifamily units absorbed. …
Denver Ranks 3rd for Progress of Urban Sustainability
Commercial Cafè recently identified the 50 cities in America that are making the largest strides toward improving the lives of their residents, as well as the ease of doing business, by embracing urban sustainability. Placing third overall, Denver achieved top 10 scores for its increase in green jobs and in LEED-certified …
Tenant Favorable Office Market Conditions in Denver
According to Jones Lang Lasalle (JLL), Denver’s office market recorded 262,802 square feet of direct net absorption and 349,945 square feet of total net absorption (including subleases) in the 3rd quarter, bringing year-to-date direct net absorption to 1,525,447 square feet and total net absorption to 1,490,968 square feet. Three deals contributing to POSITIVE absorption …
Denver Developers Building Up Instead of Out
According to RENTCafé’s most recent study, mid-rise and high-rise buildings have taken over the apartment market scene, proving developers are building up instead of out, in their quest to provide a healthy supply of residential units. The study shows how apartment buildings have changed over the last 30 years, growing vertically …
Denver’s Affordability and Growing Tech Labor Force Continues to Attract Tech Firms, says CBRE Report
A new CBRE report affirms Denver as a top North American tech market, ranking the Denver/Boulder region 10th in high-tech job growth among the 30 leading North American technology markets. The Denver/Boulder region added 8,544 tech jobs from Q2 2017 to Q2 2019, which represents 42.2 percent of all new office jobs created …
Third Quarter Construction Economics: The Good, The Bad, and the Ugly
For the third quarter of 2019, the Marcum Commercial Construction Index finds the construction industry in overall good health as 2020 approaches, despite some causes for concern. Entitled The Good, The Bad, and The Ugly, the report is produced by Marcum LLP’s Construction Services Group. The Good On the positive side, …
Denver Apartment Absorption to Hit Record High
Increasing development remains overshadowed by strengthening demand as the Denver metro is on track to log a 130-basis-point drop in two years amid the completion of 19,000 units, according to Marcus & Millichap’s fourth quarter Multifamily Outlook report. High-wage jobs in the urban core and Tech Center continue to benefit Class A …
Trends Set to Influence Holiday Retail Season
According to the National Retail Federation’s forecast, the U.S. retail market is anticipating a 4 percent sales gain this November and December from last year’s season. A new report from CBRE highlights the trends in store for retailers and shoppers this shortened holiday retail season, including an earlier start to holiday promotions, new collaborations …
Denver Leads Nation for Green Multifamily Building
According to the inaugural Multifamily Green Building Adoption Index by CBRE, 7 percent of Denver’s multifamily apartment units are green certified, more than double the U.S. average. The Mile High City also ranked among the greenest office markets, coming in at No. 8 in the Office Green Building Adoption Index. “It’s no surprise …
Denver Remains a Top City for Attracting Tenants
Cushman & Wakefield recently released its Q3 Tenant Report which compares the Mile High City’s population growth, employment, education and cost of living to 12 other large U.S. cities. According to the report, Denver remains a desirable place to live and work. Report Highlights: Denver’s unemployment remains well below the …