In a recent report put out by the Urban Land Institute, Denver proves its continued commercial strength by remaining in the top six cities with the best commercial real estate market in the nation. While the Emerging Trends report had Denver in fourth place in 2015, this year's report has it ranked as sixth following Dallas/Fort Worth holding first, Austin, Seattle, Charlotte and Atlanta.
A portion of Colorado's success has been attributed to its ability to sell public financing, pushing through numerous bond referendums for much needed infrastructure improvements. By taking advantage of its culture and location, Denver has developed a city that is attractive to the type of qualified workforce businesses want.
The report suggests that Denver has a strong perception of what investors are looking for and the strong economy and available capital to accommodate them. The overall outlook for Denver's commercial real estate market lies somewhere between good and excellent, and with Denver Business Journal reporting a good second quarter, it likely won't change.
While the report highlights the continued success of Denver's commercial real estate market, it also shows that in the homebuilding category Denver beat out Atlanta, Seattle and Charlotte for third. At 100 plus pages, the 2016 Emerging Trends report is a bit long for the casual read but outlines what it takes to make it as a top ranked city in the nation.
Although it doesn't seem to need much help with commercial growth, this report may prompt more business and industry to break ground in Denver. More growth means continued interaction with other companies, local agencies and the community that may be best handled with a trusted commercial real estate attorney.
Source: Denver Business Journal, "Denver is sixth-hottest US commercial real estate market: Report," Ben Miller, Oct. 8, 2015