Archive for May, 2015

Spotlight on Business in Denver

May 25th, 2015

Overview of Business in Denver

Over the past few years, Colorado’s capital city has been making great progress in diversifying its economic base, attracting an increasing number of new businesses in a variety of industries. As a result, Denver is currently considered one of the key commercial real estate markets to watch. A survey published by the Denver Business Journal in 2014 revealed that more than half of the interviewees gave a good rating to the city’s office and retail property market, classifying them as definite ‘buys’. The same report cites industrial diversity as one of the most attractive features of the local economy and as the principal driver of business in the city. These factors have positioned Denver as one of the best US cities for small-sized businesses, as the city ranks as high as New York and Miami in terms of business per capita, industry variety, and net growth.

Major Industries and Key Economic Drivers in Denver

Since the 1990s, new technologies have been driving growth in the local economy. High-tech companies are mainly clustered around the business parks located to the northwest of the city centre, such as the Westmoor Technology Park, Centennial Valley, and the Interlocken Advanced Technology Park. According to Forbes, over the past five years industry sectors like renewable energy, telecommunications, and aerospace have grown in importance and now constitute key economic drivers for the local economy. Read the rest of this entry »

Texas CRE: Office Space Trends & Statistics

May 6th, 2015

Overview of the office market in Texas

According to a recent Cushman and Wakefield report, the office market in the Lone Star state is robust and has been marked by a consistently high demand for Class A space and an expanding occupier base. This is particularly true of the Dallas-Fort Worth area, where a thriving job market has prompted several corporations to relocate to larger premises.

Towards the end of 2014, average vacancy rates in this area had dropped from 17.9 per cent to 16.6 per cent, thus reaching their lowest levels since 2010. By the end of Q4 2014, more than 13.8 million square feet had been leased or sold in the Dallas-Fort Worth area.

Strong demand in this area is also reflected in the speculative development pipeline, where 65 per cent of the more than 6 million square feet of office space under construction has already been pre-leased.

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