Commercial real estate finished stronger in 2011 and looks good for 2012... "depending on growth in key economic sectors such as housing, manufacturing and consumer spending." writes Dennis Huspeni for The Denver Business Journal.

Vacancies were down for business space and rental rates were stable by the end of 2011.  Kevin McCabe of Newmark, Knight, Frank, Frederick Ross, a Denver commercial Real Estate firm predicts; "I believe we'll look back on 2012 as the year we finally came out of this downturn. I'm bullish on all sectors of the Denver market for 2012."

Colorado's unemployment fell to 8% in November, which is the lowest rate since March 2009 and the energy, engineering and law sectors are expected to grow in 2012.

Denver's retail market ended the year with positive of absorption of vacant major retail space and seeing stable vacancy and rental rates.

Small strip and single tenant space was responsible for the absorption of 451,705 square feet of space with big box stores having the most negative absorption. 

Many large retailers are expanding into the Denver market and are expected to drive growth over the next few years.  WalMart, in particular, will be filling empty grocery spaces in 2012 with its 50,000 square foot Neighborhood Market concept.

Read the full story at The Denver Business Journal

photo credit: Max Claude Van Damme

Posted in Buyer Resources, Real Estate Trends, Real Estate Market Conditions

Comment on this article

Name

Email
Your email address will not be displayed.

Site/Url
Your URL will be displayed.

Your vote

Poor Excellent

Comment text

Options

  Line breaks become <br />

  Remember me

  Allow users to contact you through a message form.

Captcha

Please enter the characters from the image above. (case insensitive)

Captcha code