Commercial Real Estate in Denver
Denver has an unlimited inventory of industrial and commercial real estate that includes suburban business parks, downtown high-rises, manufacturing facilities and warehouses. Denver land and existing structures are spread throughout Denver city, allowing companies to choose optimal sites that are determined by their exact needs. Firms in all sectors benefit from the competitive rent rates and sufficient purchase varieties.
Office: The Denver office availability decreased a little from 10.6 percent during the first quarter of the year 2015 to 10.4 percent during the second quarter of the same year. There was 550,000 square feet of net office space absorption during the second quarter of the year 2015 as compared to the low 400,000 square feet of net office space absorption during the first quarter.
Industrial: Denver’s industrial market opportunity rate decreased a bit from 3.3 percent during the first quarter of the year 2015 to 3.2 percent during the second quarter of the same year. The second quarter net absorption amounted to 840,000 square feet as compared to only 460,000 square feet during the first quarter of year 2015.
Across the US, the real GDP improved in 48 States including the District of Columbia. Additionally, the real GDP increased in 282 out of the nation’s 381 cities in the year 2014. That was mostly contributed by growth in many industry groups which includes: professional and business services, retail and wholesale trade, insurance, finance real estate, leasing and rental. Greeley and Boulder both surpassed the national average as per the real GDP growth. The Boulder real GDP rose to $22.3 billion consequently elevating the area to position 108 in GDP growth. Greeley’s real GDP increased to $10.1 billion ultimately uplifting the area to position 196. Pueblo’s real GDP hit $4.7 billion. That was a growth of 5.4 percent which put the area position 315 nationally.
The Colorado Springs’ real GDP grew by 4.4 percent to attain $29.3 billion mark, thereby earning the city a national economic ranking of position 86. The Grand Junction’s real GDP grew by 3.1 percent by reaching $5.3 billion and hence got ranked at number 293 in the US GDP growth.
